Stratus swings to Q1 net income of $4.6M; revenue jumps to $26.5M on land sale

STRATUS PROPERTIES INC

2024-Q1 EPS reported $0.56 revenue$26,507,000

Net income attributable to common stockholders $4.6M ($0.56 diluted) vs net loss of $5.8M ($0.73 loss) in Q1 2023.
Revenue surged to $26.5M from $5.8M YoY, driven by $14.5M sale of 47 acres at Magnolia Place.
Sold two Amarra Villas homes for total $7.6M at higher per-sq-ft vs one home for $2.5M a year ago.
Under contract to sell West Killeen Market for $12.8M; expected close Q2 2024 with ~$7.2M pre-tax net proceeds.
Cash $20.7M, no revolver drawn, $39.6M available; total debt $168.2M down from $175.2M.

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 first-quarter 2024 results: revenue $26.5 million, net income $4.6 million, EPS $0.56 per diluted share.

Period: first-quarter 2024
Revenue: $26.5 million
Net income: $4.6 million
EPS: $0.56 per diluted share
Result: reported results

Exact text from the filing

Net income attributable to common stockholders totaled $4.6 million, or $0.56 per diluted share, in first-quarter 2024, compared to net loss attributable to common stockholders of $(5.8) million, or $(0.73) per diluted share, in first-quarter 2023. • Revenues for first-quarter 2024 were $26.5 million compared to revenues of $5.8 million for first-quarter 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STRATUS PROPERTIES INC reported first-quarter 2023 results: revenue $5.8 million, net income $(5.8) million, EPS $(0.73) per diluted share.

Period: first-quarter 2023
Revenue: $5.8 million
Net income: $(5.8) million
EPS: $(0.73) per diluted share
Result: reported results

Exact text from the filing

Net income attributable to common stockholders totaled $4.6 million, or $0.56 per diluted share, in first-quarter 2024, compared to net loss attributable to common stockholders of $(5.8) million, or $(0.73) per diluted share, in first-quarter 2023. • Revenues for first-quarter 2024 were $26.5 million compared to revenues of $5.8 million for first-quarter 2023

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Source: SEC EDGAR

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