Stratus Properties reports record FY2022 net income of $90.4M; sells Block 21 for $260M

STRATUS PROPERTIES INC

2023-Q1 EPS reported -$0.71 revenue$5,802,000

Record net income attributable to common stockholders of $90.4M ($10.99 diluted EPS) vs $57.4M ($6.90) in 2021.
Completed sale of Block 21 for $260M, recording pre-tax gain of $119.7M in discontinued operations.
Paid special cash dividend of $4.67/share ($40M total) and initiated $10M share repurchase program (bought $8.7M through March 27, 2023).
Total stockholders' equity rose to $207.2M from $158.1M; after-tax NAV per share $42.94 vs $48.80 (decrease due to dividend).
New projects: Holden Hills (475 residences) broke ground in Q1 2023; The Saint George (316 units) construction started; The Saint June (182 units) expected completion Q3 2023.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STRATUS PROPERTIES INC reported year ended December 31, 2022 results: revenue 37,498, net income 90,400,000, EPS 10.99.

Period: year ended December 31, 2022
Revenue: 37,498
Net income: 90,400,000
EPS: 10.99
Result: reported results

Exact text from the filing

Year Ended December 31, 2022 2021 Revenues Real estate operations $ 24,750 $ 8,466 Leasing operations 12,754 19,787 Eliminations and other (6) (17) Total consolidated revenue $ 37,498 $ 28,236 Operating (loss) income Real estate operations $ 164 $ (3,272) Leasing operations a 9,621 111,369 Corporate, eliminations and other b (17,548) (24,437) Total consolidated

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Source: SEC EDGAR

accession 0000885508-23-000019

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