Stratus Properties Q3 2023 net loss $2.8M ($0.35/share) vs loss $2.4M; revenue down 63% to $3.7M

STRATUS PROPERTIES INC

2023-Q3 EPS reported -$1.69 revenue$13,001,000

Net loss attributable to common stockholders $2.8M ($0.35 diluted) vs $2.4M loss ($0.29) in Q3 2022.
Total revenue $3.7M, down from $10.0M; no real estate sales in Q3 2023 vs $6.9M in prior year.
EBITDA negative $1.9M vs negative $1.2M in Q3 2022.
Completed construction of The Saint June; 25% of units leased with rents above initial projections.
Board authorized new $5M share repurchase program; prior $10M program completed with 389,378 shares repurchased at avg $25.68.

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 third-quarter 2023 results: revenue $3,669 $ 9,977 $ 13,001 $ 24,201, net income Net loss attributable to common stockholders totaled $2.8 million, or $0.35 per diluted share, EPS $0.35 per diluted share.

Period: third-quarter 2023
Revenue: $3,669 $ 9,977 $ 13,001 $ 24,201
Net income: Net loss attributable to common stockholders totaled $2.8 million, or $0.35 per diluted share
EPS: $0.35 per diluted share
Result: reported results

Exact text from the filing

30, September 30, 2023 2022 2023 2022 (In Thousands, Except Per Share Amounts) (Unaudited) Revenues Real Estate Operations $ — $ 6,887 $ 2,551 $ 14,837 Leasing Operations 3,669 3,090 10,450 9,370 Eliminations and other — — — (6) Total Consolidated Revenue $ 3,669 $ 9,977 $ 13,001 $ 24,201 Operating (loss) income Real Estate Operations a $ (1,505) $ (89)

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Source: SEC EDGAR

accession 0000885508-23-000053

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