Q2 net income drops to $0.5M ($0.06/diluted) from $16.5M ($1.91) a year ago

TRANSCONTINENTAL REALTY INVESTORS INC

2023-Q2 EPS reported $0.47 revenue$23,927,000

Net income fell $15.9M year-over-year due to $14.1M decrease in gain on foreign currency transactions.
Rental revenues rose to $11.4M from $7.3M, driven by multifamily acquisitions.
Net operating loss increased to $3.5M from $2.8M, partly on higher legal costs.
Total occupancy 81% (multifamily 93%, commercial 59%) at June 30, 2023.
Repaid $67.5M Series C bonds in Jan and $42.9M Series A/B bonds in May; subsidiary exited TASE.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TRANSCONTINENTAL REALTY INVESTORS INC reported three months ended June 30, 2023 results: revenue 11.4 million, net income 0.5 million, EPS 0.06.

Period: three months ended June 30, 2023
Revenue: 11.4 million
Net income: 0.5 million
EPS: 0.06
Result: reported results

Exact text from the filing

Ltd. withdrew from the Tel Aviv Stock Exchange (“TASE”). Financial Results Rental revenues increased $4.1 million from $7.3 million for the three months ended June 30, 2022 to $11.4 million for the three months ended June 30, 2023. The increase in rental revenue is primarily due to $4.7 million increase at our multifamily properties offset in part by a decrease of

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Source: SEC EDGAR

accession 0000733590-23-000017

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