Stratus Properties Q2 2023 net loss $5.3M; revenue down 68% on no property sales

STRATUS PROPERTIES INC

2023-Q2 EPS reported -$1.35 revenue$9,332,000

Net loss of $5.3M ($0.64/diluted share) vs net income of $96.6M ($11.53) in Q2 2022; six-month loss $11.1M.
Total revenue fell to $3.53M from $11.1M; leasing revenue up to $3.47M but real estate ops revenue near zero.
EBITDA was negative $3.84M vs positive $1.46M a year ago; operating loss widened to $5.35M.
The Saint June (182-unit multifamily) began occupancy July 2023, completion expected Sept 2023.
Share buybacks consumed $9.8M of $10M authorization; cash $44.1M, no revolver drawn, debt $137.4M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STRATUS PROPERTIES INC reported second-quarter 2023 results: net income Net loss attributable to common stockholders totaled $5.3 million, or $0.64 per diluted share, in second-quarter 2023.

Period: second-quarter 2023
Net income: Net loss attributable to common stockholders totaled $5.3 million, or $0.64 per diluted share, in second-quarter 2023
Result: reported results

Exact text from the filing

Stratus Properties Inc. issued a press release dated August 14, 2023, announcing its second-quarter 2023 results.

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Source: SEC EDGAR

accession 0000885508-23-000033

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