ARL Q2 net income falls to $0.1M ($0.01 EPS) vs $16.3M ($1.01); rental rev up

AMERICAN REALTY INVESTORS INC

2023-Q2 EPS reported $0.19 revenue$23,927,000

Net income attributable to common shares $0.1M ($0.01 diluted EPS) vs $16.3M ($1.01) in Q2 2022.
Rental revenues rose to $11.4M from $7.3M YoY, primarily from multifamily acquisitions.
Net operating loss widened to $3.9M from $3.0M due to higher legal costs.
Paid off $67.5M Series C bonds in Jan and $42.9M Series A/B bonds in May; exit from TASE.
Portfolio occupancy 81% (multifamily 93%, commercial 59%).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN REALTY INVESTORS INC reported the quarter ended June 30, 2023 results: revenue $11.4 million, net income $0.1 million, EPS $0.01 per diluted share.

Period: the quarter ended June 30, 2023
Revenue: $11.4 million
Net income: $0.1 million
EPS: $0.01 per diluted share
Result: reported results

Exact text from the filing

Ltd. withdrew from the Tel Aviv Stock Exchange (“TASE”). Financial Results Rental revenues increased $4.1 million from $7.3 million for the three months ended June 30, 2022 to $11.4 million for the three months ended June 30, 2023 . The increase in rental revenue is primarily due to $4.7 million increase at our multifamily properties offset in part by a decrease of

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Source: SEC EDGAR

accession 0001102238-23-000020

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