TCI posts Q1 net income of $2.5M ($0.30 EPS), down from $3.5M ($0.41 EPS) YoY

TRANSCONTINENTAL REALTY INVESTORS INC

2024-Q1 EPS reported $0.30 revenue$11,899,000

Net income attributable to common shares $2.5M ($0.30 diluted EPS) vs $3.5M ($0.41) in Q1 2023.
Rental revenue up $0.3M to $11.3M; total occupancy 79% (multifamily 94%, commercial 49%).
Net operating loss improved from $2.6M loss to $1.3M loss due to lower G&A from bonds repaid in 2023.
Extended Windmill Farms loan maturity to Feb 2026 at 7.50% interest rate.
Decrease in net income driven by lower interest income and foreign currency gains.

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 March 31, 2024 results: net income $2.5 million or $0.30 per diluted share, EPS $0.30 per diluted share.

Period: three months ended March 31, 2024
Net income: $2.5 million or $0.30 per diluted share
EPS: $0.30 per diluted share
Result: reported results

Exact text from the filing

Transcontinental Realty Investors, Inc. reports Earnings for Q1 2024 DALLAS (May 9, 2024) -- Transcontinental Realty Investors, Inc. (NYSE:TCI) is reporting its results of operations for the three months ended March 31, 2024. For the three months ended March 31, 2024, we reported net income attributable to common shares of $2.5 million or $0.30 per diluted share, compared to a net income of $3.5 million or $0.41 per diluted share for the same period in 2023.

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Source: SEC EDGAR

accession 0000733590-24-000013

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