Stratus Properties posts net loss of $14.8M in 2023 vs net income of $90.4M in 2022

STRATUS PROPERTIES INC

Revenue fell to $17.3M from $37.5M; real estate ops revenue dropped to $2.6M from $24.8M.
EBITDA totaled -$10.7M in 2023 vs -$3.1M in 2022; operating loss widened to $16.9M.
After-tax NAV per share declined to $39.40 from $42.94; cash $31.4M, no revolver draws.
New $5M share repurchase program; completed prior $10M buyback at avg $25.68/share.
In Feb 2024 sold 47 acres at Magnolia Place for $14.5M; exploring sale of five retail properties.

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 year ended December 31, 2023 results: revenue $17,270, net income $(14.8) million, or $(1.85) per diluted share, EPS $(1.85) per diluted share.

Period: year ended December 31, 2023
Revenue: $17,270
Net income: $(14.8) million, or $(1.85) per diluted share
EPS: $(1.85) per diluted share
Result: reported results

Exact text from the filing

Year Ended December 31, 2023 2022 Revenues Real estate operations $ 2,551 $ 24,750 Leasing operations 14,719 12,754 Eliminations and other — (6) Total consolidated revenue $ 17,270 $ 37,498 Operating (loss) income Real estate operations $ (7,218) $ 164 Leasing operations a 5,410 9,621 Corporate, eliminations and other b (15,138) (17,548) Total consolidated

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Source: SEC EDGAR

accession 0000885508-24-000026

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