Star Holdings reports Q1 net loss of $49M, EPS loss of $3.68

Star Holdings

2024-Q1 EPS reported -$3.68 revenue$25,436,000

Net loss attributable to common shareholders of $49.0M, EPS loss of $3.68.
Non-cash mark-to-market adjustment of $37.9M on 13.5M SAFE shares reduced EPS by $2.84.
Land revenue of $16.6M primarily from Asbury Park land parcel and 52 lots at Magnolia Green.
No guidance updates; company focuses on asset monetization and maximizing cash flows.

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

Star Holdings reported the quarter ended March 31, 2024 results: revenue $16.6 million, net income ($49.0 million), EPS ($3.68).

Period: the quarter ended March 31, 2024
Revenue: $16.6 million
Net income: ($49.0 million)
EPS: ($3.68)
Result: reported results

Exact text from the filing

by ($2.84) with respect to our investment in approximately 13.5 million shares of SAFE based on a mark-to-market at quarter end. During the first quarter, the Company recorded $16.6 million of land revenues, which was primarily comprised of a land parcel at Asbury Park and 52 lots at Magnolia Green. Further details regarding the Company's results of operations,

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Source: SEC EDGAR

accession 0001953366-24-000015

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