Star Equity Q4 revenue down 19.8% but net income improves; cash quadruples to $18.9M

STAR EQUITY HOLDINGS, INC.

Q4 2023 revenue $14.1M (-19.8% YoY); net income from continuing ops $1.8M ($0.11 EPS) vs $0.9M.
FY 2023 revenue $45.8M (-19.9% YoY); net loss from continuing ops $1.9M ($0.12 loss) improved from $5.8M loss.
Construction gross margin for FY 2023 improved to 26.5% from 22.2% due to pricing and mix.
Cash and equivalents grew to $18.9M at year-end from $4.5M; generated $2.7M cash from continuing ops.
Closed Big Lake Lumber bolt-on acquisition in Q4; maintained $0.25 quarterly preferred dividend.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STAR EQUITY HOLDINGS, INC. reported the fourth quarter (Q4) and fiscal year (FY) ended December 31, 2023 results: revenue $14.1 million, net income $1.8 million, EPS $0.11 income per basic and diluted share.

Period: the fourth quarter (Q4) and fiscal year (FY) ended December 31, 2023
Revenue: $14.1 million
Net income: $1.8 million
EPS: $0.11 income per basic and diluted share
Result: reported results

Exact text from the filing

continuing operations, which currently include two divisions: Construction and Investments. Q4 2023 Financial Highlights vs. Q4 2022 (unaudited) • Revenues decreased by 19.8% to $14.1 million from $17.6 million. • Gross profit decreased by 47.0% to $2.9 million from $5.4 million. • Net income from continuing operations was $1.8 million (or $0.11 income per basic and

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Source: SEC EDGAR

accession 0000707388-24-000019

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