Core Viewpoint - Boston Omaha reported third-quarter earnings that fell short of analyst expectations, leading to a decline in stock price, but the stock is considered undervalued and may present a buying opportunity [1][5]. Financial Performance - Boston Omaha reported revenue of $27.7 million for the third quarter, representing a year-over-year increase of 12.8%, surpassing revenue expectations of $27.1 million [3]. - The company experienced a net loss per share of $0.05, which was worse than the estimated loss of $0.01 per share [3]. Business Operations - Boston Omaha operates in various sectors including billboard advertising, fiber broadband, and insurance, and was previously co-run by Warren Buffett's great-nephew, Alex Rozek, who has since stepped down [2]. - The company has significant noncash depreciation charges in its billboard and broadband businesses, which obscure its underlying cash generation [3]. Investment Insights - The stock is currently trading almost 70% below its all-time highs and is valued at less than its book value, indicating potential for investment [5]. - Boston Omaha's stake in Sky Harbour is recorded at its initial investment value, while its market value is actually $64.5 million higher, suggesting that the book value may be understated and could increase by approximately 15% [6]. - The diverse portfolio of stable businesses positions Boston Omaha as a potential buy on the dip [6].

Business Operations - As of September 30, 2024, the company operates approximately 4,000 billboards with about 7,600 advertising faces, having increased from approximately 2,900 billboards since 2015[187]. - The broadband services segment has approximately 45,600 broadband customers, including 14,000 fiber subscribers, and 37,200 fiber passings completed as of September 30, 2024[189]. - The company has expanded its surety insurance business to all 50 states and the District of Columbia, increasing its market reach significantly[188]. - The company aims to expand its geographic reach and market share in outdoor advertising and broadband services, with a focus on acquisitions and sustainable earnings[198]. - Future expansions may include additional services in the insurance sector and potential acquisitions in other sectors, emphasizing growth in existing business lines[198]. Financial Performance - Total revenues for the third quarter of fiscal 2024 were $27,700,936, representing a 12.8% increase from $24,548,101 in the same quarter of fiscal 2023[203]. - Net billboard rentals increased by 5.6% to $11,503,915, accounting for 41.5% of total revenues in the third quarter of fiscal 2024[204]. - Revenue from broadband services rose by 7.4% to $9,664,074, making up 34.9% of total revenues[205]. - Premiums earned from the UCS insurance subsidiary surged by 45.6% to $5,425,052, representing 19.6% of total revenues[206]. - The company reported total revenues of $80,341,450 for the first nine months of fiscal 2024, representing a 12.2% increase from $71,580,280 in the same period of fiscal 2023[223]. Costs and Expenses - Total costs and expenses for the third quarter of fiscal 2024 were $28,440,958, with a decrease in total costs as a percentage of total revenues from 107.9% to 102.7%[209]. - Employee costs decreased to $8,311,882, or 30.0% of total revenues, down from 32.9% in the same quarter of fiscal 2023[212]. - Total costs and expenses for the first nine months of fiscal 2024 were $87,536,368, up from $78,142,705 in the same period of fiscal 2023[230]. - Employee costs rose to $28,764,730, or 35.8% of total revenues, primarily due to one-time severance and bonus payments[233]. Net Income and Loss - Net loss from operations improved to $740,022, or 2.7% of total revenues, compared to a net loss of $1,942,729, or 7.9% of total revenues in the prior year[217]. - The net loss attributable to common stockholders for Q3 fiscal 2024 was $1,595,136, consistent with a loss per share of $0.05[221]. - Net loss from operations for the first nine months of fiscal 2024 was $7,194,918, or 9.0% of total revenues, compared to a loss of $6,562,425, or 9.2% in the prior year[238]. - The net loss attributable to common stockholders for the first nine months of fiscal 2024 was $6,638,436, or a loss per share of $0.21, compared to a net loss of $3,422,048, or a loss per share of $0.11 in the same period of fiscal 2023[242]. Investments - The company invested approximately $5 million in cash and stock to acquire 100% of the membership interests in 24th Street, enhancing its asset management capabilities[190]. - The investment in Crescent Bank represents 15.6% of its outstanding common stock, focusing on subprime automobile lending across the U.S.[192]. - The company invested approximately $55 million in Sky Harbour, converting this investment into 5,500,000 shares of Class A common stock upon the business combination completion[195]. - Investment and other income increased to $1,852,354 in the first nine months of fiscal 2024, up from $1,576,963 in the same period of fiscal 2023[228]. Cash Flow and Financing - Net cash provided by operating activities was $12,117,191 for the first nine months of fiscal 2024, down from $12,241,695 in fiscal 2023[284]. - Net cash provided by investing activities was $29,893,384 in fiscal 2024, a significant improvement from net cash used of $48,959,016 in fiscal 2023[285]. - Net cash used in financing activities was $48,879,743 in fiscal 2024, compared to net cash provided of $34,115,891 in fiscal 2023[286]. - The company plans to finance future acquisitions and investments through cash, debt, and seller or third-party financing[287]. Debt and Equity - As of September 30, 2024, long-term debt included Link's Term Loan borrowings of $26,731,376, with $9,600,000 related to the revolving line of credit[305]. - The Term Loan has a fixed interest rate of 4.00% per annum and is payable in full on December 6, 2028[304]. - The company registered for a shelf registration statement allowing it to raise up to $500 million for future acquisitions and investments[290]. - A share repurchase program was authorized for up to $20 million of Class A common stock, effective August 15, 2024[288]. Market and Risk Factors - The company anticipates continued growth in the outdoor billboard and broadband service markets due to technological advancements and increased demand[199]. - Existing credit facilities impose restrictions that could limit the company's flexibility in responding to economic changes, including limits on incurring additional indebtedness and making acquisitions[321]. - The company operates entirely within the U.S., resulting in no significant exposure to foreign currency exchange rate risk[328]. - The preparation of financial statements requires estimates that may differ from actual results, impacting reported amounts of assets and liabilities[329].

Core Viewpoint - BOC Aviation Limited's aircraft deliveries for Q3 2024 were lower compared to both year-over-year and quarter-over-quarter, falling short of expectations, leading to an unchanged investment rating of "Hold" for the company's shares [1]. Group 1: Company Performance - BOC Aviation Limited's aircraft deliveries decreased in Q3 2024, indicating a potential slowdown in operational performance [1]. Group 2: Investment Strategy - The research service Asia Value & Moat Stocks focuses on identifying value investment opportunities in Asia, particularly in Hong Kong, targeting deep value balance sheet bargains and wide moat stocks [1].

Group 1 - The article highlights the addition of a new aircraft leasing company to the coverage, alongside AerCap and Air Lease Corporation, indicating a bullish outlook on these companies' prospects [2] - The investing group, The Aerospace Forum, aims to identify investment opportunities within the aerospace, defense, and airline sectors, leveraging data analytics for informed analysis [2] - The analyst has a beneficial long position in AerCap shares, indicating confidence in the company's performance [2] Group 2 - The article emphasizes the limited number of publicly traded aircraft leasing companies, which may present unique investment opportunities [2] - The analyst's background in aerospace engineering provides a solid foundation for understanding the complexities and growth potential of the industry [2] - The investing group offers direct access to data analytics monitors, enhancing the investment research process [2]

Core Insights - True value in investments is derived from growth rather than short-term gains, emphasizing a long-term perspective on evaluation [1] - Great businesses provide significant societal value and exhibit durability, deserving of substantial growth [1] - Key characteristics sought in investments include selection, convenience, value, and durability, with a preference for non-cyclical businesses [1] Business Characteristics - Businesses that consistently outperform competitors through superior products and services are favored, with a focus on multiple revenue streams and anti-fragile structures [1] - The ability to recover from adversity is a critical test of a business's durability [1] - Uniqueness is identified as the primary driver of value, with low maintenance costs allowing for high reinvestment potential [1] Management and Strategy - Trust and network effects are essential indicators of a business's durability, alongside the importance of aligned management interests [1] - Effective management is characterized by continuous learning and a focus on empowering talent, avoiding political dynamics [1] - Successful examples, such as Amazon, illustrate the benefits of a customer-centric approach leading to extraordinary investor returns [1] Investment Timing and Strategy - The optimal investment period is when negative news is fully recognized, allowing real value to emerge [1] - Companies that initiate buybacks when they possess durable business models are seen as making sound strategic decisions [1] - Price movements are influenced by expectations and surprises, with a focus on undervalued factors amidst negative pricing [1]

Core Viewpoint - The article emphasizes the importance of identifying and maintaining trends in short-term investing, highlighting that sound fundamentals and positive earnings estimates are crucial for sustaining momentum in stocks [1]. Group 1: Stock Screening and Selection - The "Recent Price Strength" screen is a unique short-term trading strategy that helps identify stocks with strong fundamentals capable of maintaining an uptrend [2]. - BOC Hong Kong Ltd. (BHKLY) is highlighted as a suitable candidate that has shown a solid price increase of 2.3% over the past 12 weeks, indicating investor confidence [3]. - A price increase of 6.2% over the last four weeks further confirms that the upward trend for BHKLY is still intact [4]. Group 2: Fundamental Analysis - BHKLY currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [5]. - The Zacks Rank system has a strong track record, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988, indicating the effectiveness of this ranking system [6]. - The Average Broker Recommendation for BHKLY is 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [6]. Group 3: Investment Strategy - The article suggests that BHKLY's price trend is unlikely to reverse soon, and encourages investors to explore other stocks that meet the "Recent Price Strength" criteria [7]. - It also mentions the availability of over 45 Zacks Premium Screens tailored to different investing styles, which can assist in identifying potential winning stocks [7].

Boston Omaha (NYSE: BOC ) is invested in a diversified collection of business interests across several industries, including several publicly traded positions that are much easier to value than the wholly owned subsidiary businesses. I believe the intrinsic values Compounding Chef combines a business education background with professional experience in a variety of industries to find opportunities across the investing universe including… Media, Marketing, and Public Relations Travel, Tourism, and Hospitalit ...

BOC Hong Kong Ltd. (BHKLY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Since ...

The young holding company is making an effort to improve investor communication. To say that Boston Omaha (BOC 0.14%) has historically been short on investor communication would be an understatement. But the good news is that management is trying to change that, and we recently saw Boston Omaha's first-ever investor presentation. In this video, I'll break down all the important highlights and takeaways. *Stock prices used were the morning prices of Aug. 26, 2024. The video was published on Aug. 27, 2024. ...

I haven't been thrilled with this unique holding company recently, but the latest developments are good news. Boston Omaha Corporation (BOC -1.42%) hasn't exactly made many investors happy in 2024. It pulled the plug on arguably the most exciting part of the business, one of its co-CEOs abruptly left the company, and to call executive compensation of the past few years excessive would be an understatement. However, as I explain in this short video, two big recent news items should make investors smile. *Sto ...