Centerspace | 10-Q: FY2025 Q2 Revenue: USD 68.55 M

LB filings
2025.08.04 20:35
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Revenue: As of FY2025 Q2, the actual value is USD 68.55 M.

EPS: As of FY2025 Q2, the actual value is USD -0.87, missing the estimate of USD -0.1267.

Segment Revenue

  • Total Revenue: $68.5 million for the three months ended June 30, 2025, compared to $65.0 million for the same period in 2024, representing a 5.4% increase.

Operational Metrics

  • Net Loss: $16.8 million for the three months ended June 30, 2025, compared to $1.7 million for the same period in 2024.
  • Operating Income (Loss): - $6.8 million for the three months ended June 30, 2025, compared to $7.2 million for the same period in 2024.
  • Net Operating Income (NOI): $42.0 million for the three months ended June 30, 2025, compared to $39.9 million for the same period in 2024, representing a 5.4% increase.

Cash Flow

  • Net Cash Provided by Operating Activities: $50.7 million for the six months ended June 30, 2025, compared to $47.3 million for the same period in 2024.
  • Net Cash Used by Investing Activities: - $164.5 million for the six months ended June 30, 2025, compared to - $28.4 million for the same period in 2024.
  • Net Cash Provided by Financing Activities: $118.8 million for the six months ended June 30, 2025, compared to - $12.7 million for the same period in 2024.

Unique Metrics

  • Impairment of Real Estate Investments: $14.5 million for the three and six months ended June 30, 2025.

Future Outlook and Strategy

  • Core Business Focus: Centerspace aims to enhance resident satisfaction and drive profitability by investing in high-quality assets in desirable locations and creating vibrant apartment communities.
  • Non-Core Business: Centerspace did not dispose of any real estate during the six months ended June 30, 2025, but classified 12 properties as held for sale during the second quarter of 2025.

Priority

  • Strategic Acquisitions: Centerspace acquired Sugarmont, its first apartment community in Salt Lake City, Utah, consisting of 341 homes for an aggregate purchase price of $149.0 million.
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