Revenue and Income - Rental revenues for Q3 2024 were $119,992, a decrease of 3.2% from $124,783 in Q3 2023[6] - Total revenues for the nine months ended September 30, 2024, were $383,871, down 3.0% from $395,577 in the same period of 2023[6] - Net income for Q3 2024 was $15,753, an increase of 22.0% compared to $12,875 in Q3 2023[8] - Basic earnings per share for Q3 2024 were $0.52, up from $0.41 in Q3 2023, representing a 26.8% increase[6] - Comprehensive income for Q3 2024 was $15,755, compared to $13,493 in Q3 2023, reflecting a 16.8% increase[9] - Net income for the nine months ended September 30, 2024, was $19,570, compared to a net loss of $(9,274) for the same period in 2023, representing a significant turnaround[15] - Total revenues for the three months ended September 30, 2024, were $63,450, an increase of approximately 1.8% from $62,354 in the same period of 2023[43] - Net income for the nine months ended September 30, 2024, was $42,170, compared to $27,435 for the same period in 2023, indicating a significant increase[43] Expenses and Financial Performance - Total expenses for the nine months ended September 30, 2024, decreased to $291,980, down 13.5% from $337,739 in the same period of 2023[6] - Interest expense for Q3 2024 was $38,849, a decrease of 9.5% from $42,891 in Q3 2023[6] - Total expenses for the three months ended September 30, 2024, decreased to $93,227 from $102,358 in 2023, a reduction of 8.9%[6] - Interest expense for the nine months ended September 30, 2024, was $118,068 million, a decrease from $130,588 million in the same period of 2023[55][56] Cash Flow and Investments - Net cash provided by operating activities increased to $156,023 for the nine months ended September 30, 2024, up from $134,155 in the prior year, reflecting a growth of approximately 16.5%[15] - Net cash provided by investing activities increased significantly to $57,595 for the nine months ended September 30, 2024, compared to $18,099 in the same period of 2023[15] - Cash and cash equivalents at the end of the period were $141,468, up from $119,676 at the end of September 30, 2023, showing an increase of approximately 18.2%[15] Shareholder Equity and Stock Activity - As of September 30, 2023, total equity stands at $328,970,000, a decrease from $367,129,000 on December 31, 2022[11] - The company repurchased 300,652 shares of common stock, totaling $7,933,000, during the quarter ending September 30, 2024[14] - Dividends declared for common stock totaled $12,011,000 for the quarter ending June 30, 2023, consistent with previous quarters[11] - The company issued 145,352 shares of restricted common stock and 164,837 shares associated with performance stock units during the quarter ending December 31, 2023[14] Real Estate and Asset Management - The company owned interests in a total of 87 properties as of September 30, 2024, including 39 malls and 2 centers[18] - The company reported a gain on sales of real estate assets of $12,816 in Q3 2024, compared to $3,414 in Q3 2023[6] - The company reported a gain on sales of real estate assets of $(16,487) for the nine months ended September 30, 2024, compared to $(4,896) in 2023, indicating a worsening in asset sales performance[15] - The total undiscounted future fixed lease payments to be received under operating leases as of September 30, 2024, amount to $1,435,675 million[26] Debt and Liabilities - Total mortgage and other indebtedness, net, as of September 30, 2024, is $1,775,119, down from $1,888,803 as of December 31, 2023, reflecting a decrease of approximately 6%[47] - The Company’s consolidated debt is non-recourse as of September 30, 2024, with no indebtedness directly held by the Company[46] - Scheduled principal payments for the remainder of 2024 total $7,877, with total mortgage and other indebtedness scheduled for future years amounting to $1,812,862[48][49] Compensation and Stock Awards - Share-based compensation expense for restricted stock awards was $2,110 thousand and $6,187 thousand for the three and nine months ended September 30, 2024, respectively, compared to $1,835 thousand and $5,475 thousand for the same periods in 2023, reflecting an increase of 15.0% and 12.9% year-over-year[12][65] - The total grant-date fair value of restricted stock awards granted during the nine months ended September 30, 2024, was $3,398 thousand, while the total fair value of awards that vested during the same period was $2,229 thousand[66] - The unrecognized compensation expense related to PSUs was $12,125 thousand as of September 30, 2024, expected to be recognized over a weighted-average period of 2.1 years[67] Market and Economic Conditions - The company is involved in litigation expected to be covered by liability insurance, with no material adverse effect anticipated on its financial condition[60] - The company has a master insurance policy for environmental claims providing coverage up to $40,000 per occurrence, which is not expected to materially impact its financial condition[61]

Core Viewpoint - CBL International Limited reported significant revenue growth in the first half of 2024, driven by increased sales volume and expansion of its global supply network, despite facing challenges with gross profit margins and net income loss [2][4]. Financial Highlights - Revenue for 1H 2024 increased by 44.4% to approximately $277.23 million from $191.96 million in 1H 2023, attributed to a 39.4% year-over-year increase in sales volume [2]. - Gross profit decreased by 32.2% to approximately $2.72 million compared to $4.01 million in 1H 2023, primarily due to reduced premiums sold [2]. - Operating expenses rose by 64.0% to approximately $4.12 million from $2.51 million in 1H 2023, driven by higher selling and distribution expenses [2]. - The company reported a net loss of approximately $1.62 million, a decline from a net income of $1.15 million in 1H 2023, due to lower gross margins and higher operating costs [2]. - Net cash provided by operating activities improved to approximately $2.30 million from a cash outflow of $7.24 million in 1H 2023, indicating better working capital management [2]. - As of June 30, 2024, the consolidated cash balance increased by approximately $2.29 million, or 30.9%, to $9.69 million compared to $7.40 million as of December 31, 2023 [2]. Operational Highlights - The global service network expanded from 36 ports at IPO in March 2023 to over 60 ports across Asia, Europe, and Africa, enhancing market coverage and local sourcing capabilities [3]. - The company commenced biofuel bunkering services in Hong Kong, China, and Malaysia, positioning itself as a pioneer in sustainable fuel solutions with a B24 biofuel blend that reduces greenhouse gas emissions by 20% [3]. - Banle adapted to macroeconomic challenges by coordinating increased fuel supplies in Asian ports to meet heightened demand amid ongoing disruptions in major trade routes [3]. Management Commentary - The Chairman & CEO expressed satisfaction with revenue growth and sales volume despite challenging market conditions, emphasizing the company's strategic initiatives in service network expansion and sustainable fuel solutions [4]. Outlook - The company aims to continue expanding its market presence, particularly in the biofuel sector, while enhancing its global supply network and driving operational efficiency [5].

Core Viewpoint - CBL International Limited has successfully completed a private placement to enhance its service offerings in port network development and alternative energy sectors, reflecting investor confidence in its strategic direction [1][4]. Group 1: Private Placement Details - The company issued 2,500,000 shares of common stock, generating gross proceeds of approximately $1.375 million before expenses [2]. - The net proceeds will be allocated to network development, alternative energy and biofuel supply development, future acquisitions, working capital, and general corporate purposes [3]. Group 2: Management Commentary - Mr. Teck Lim Chia, Chairman & CEO, emphasized that the capital raise is a positive step for CBL, supporting growth in new energy and biofuel projects [4]. Group 3: Regulatory and Compliance - CBL has entered into a Registration Rights Agreement with the purchasers, committing to file a registration statement with the SEC within 30 days of the private placement closing [5]. - The shares issued in the private placement are not registered under the Securities Act of 1933 and cannot be offered or sold in the U.S. without registration or an exemption [6]. Group 4: Company Overview - CBL International Limited, listed on NASDAQ as BANL, is a marine fuel logistic company established in 2015, operating in over 55 major ports across the Asia-Pacific region [8]. - The company promotes the use of alternative fuels and holds ISCC EU and ISCC Plus certifications [8].

Wipada Wipawin/iStock via Getty Images Introduction CBL & Associates Properties (NYSE:CBL) has marginally outperformed the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, delivering a circa 7% total return against the 5% gain in the benchmark ETF: CBL vs VNQ in 2024 (Seeking Alpha) I also covered the shares back in March 2024, arguing they were undervalued before Fed rate cuts. While interest rate cuts have not materialized yet, I believe they will start soon, boosting the company's cash flows giv ...

Exhibit 99.1 Earnings Release and Supplemental Financial and Operating Information For the Three and Six Months Ended June 30, 2024 Earnings Release and Supplemental Financial and Operating Information Table of Contents | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------|-------| | | Page | | Earnings Release | 1 | | Consolidated Statements of Operations | 6 | | Reconciliations of Supplementary Non-GAAP F ...

UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____________ TO _______________ COMMISSION FILE NO. 1-12494 (CBL & ASSOCIATES PROPERTIES, INC.) CBL & ASSOCIATES PROPERTIES, INC. (Exact Name of registrant as ...

Earnings Release and Supplemental Financial and Operating Information | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------|-------| | | Page | | Earnings Release | 1 | | Consolidated Statements of Operations | 6 | | Reconciliations of Supplementary Non-GAAP Financial Measures: | | | Funds from Operations (FFO) | 7 | | Same-center Net Operating Income (NOI) | 9 | | Share of Consolidated and Unconsolidated D ...

Washington, D.C. 20549 COMMISSION FILE NO. 1-12494 (CBL & ASSOCIATES PROPERTIES, INC.) Delaware 62-1545718 1 | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------|-------|-------------------------------------|-------|--------------| | REVENUES: | | Three Months Ended March 31, \n2024 | | 2023 | | Rental revenues | $ | 124,027 | $ | 130,324 | | Management, development and leasing fees | | 1,905 | | 2,434 | | Other | | 3,185 | | 3,601 | | Total revenues | | 1 ...

iantfoto Overall, I have done quite well over the long run. I have managed to outperform my real estate investment trust, or REIT, sector (VNQ) benchmarks by a large margin, all while earning a much higher dividend yield: 2023 3 Year 5 Year 10/2018–2024 VNQ 12.81% 18.72% 44.89% 41.09% RMZ 9.77% 12.62% 19.97% 15.58% Core Portfolio 10.27% 30.52% 65.60% 64.26% But it wasn't without some hiccups along the way. We take risks to earn returns and sometimes, risk factors play out. Then at other tim ...

uschools Introduction CBL & Associates (NYSE:CBL) recently reported its Q4 2023 results, which I will discuss below. I will also flag the company's capitalization rate, which I estimate at 14.3%, and some risks related to the investment case. In a nutshell, I think that the shares are a buy as CBL is set to benefit from FED interest rate cuts on its floating rate debt. Company Overview You can access CBL quarterly results here. The company derived 69% of its 2023 net operating income (NOI) from enclosed ...