Veris Residential(VRE) - 2025 Q1 - Quarterly Results
2025-04-23 20:32
Financial Performance - For Q1 2025, Veris Residential reported a net loss per diluted share of $(0.12), compared to $(0.04) in Q1 2024[6]. - Core FFO per diluted share increased to $0.16 from $0.14 year-over-year, while Core AFFO per diluted share decreased slightly to $0.17 from $0.18[6]. - Total revenues for Q1 2025 increased to $67,756 thousand, up from $67,340 thousand in Q1 2024, representing a growth of 0.6%[33]. - Net loss available to common shareholders for Q1 2025 was $(10,699) thousand, compared to $(3,903) thousand in Q1 2024, indicating a deterioration of 173.1%[35]. - Core Funds from Operations (Core FFO) rose to $15,840 thousand in Q1 2025, compared to $14,179 thousand in Q1 2024, reflecting an increase of 11.7%[37]. - Adjusted EBITDA for Q1 2025 was $36,675 thousand, up from $33,177 thousand in Q1 2024, marking an increase of 10.5%[37]. - Total expenses for Q1 2025 were $62,226 thousand, compared to $60,981 thousand in Q1 2024, an increase of 2.0%[33]. - Interest expense increased to $(22,960) thousand in Q1 2025 from $(21,500) thousand in Q1 2024, a rise of 6.8%[33]. - Basic earnings per common share for Q1 2025 was $(0.12), compared to $(0.04) in Q1 2024, reflecting a decline of 200%[35]. - The Company reported a net loss of $13,730,000 for Q1 2025, compared to a net loss of $14,023,000 in Q4 2024[69]. Operational Metrics - Same Store NOI growth was 3.2% year-over-year, with total property revenue increasing by 2.4% to $75.761 million[10]. - Same Store occupancy improved to 94.0% from 93.9% quarter-over-quarter[9]. - The New Jersey Waterfront portfolio achieved an average occupancy rate of 93.4% in Q1 2025, a slight decrease of 0.3% from Q4 2024[53]. - Massachusetts properties reported an occupancy rate of 95.0% in Q1 2025, up 1.2% from 93.9% in Q4 2024[53]. - The total NOI for the operating portfolio was $56,900 in Q1 2025, showing a marginal increase of 0.1% compared to $56,955 in Q4 2024[53]. - Year-over-year, the NOI for New Jersey Waterfront increased by 2.7% from $36,698 in Q1 2024 to $37,673 in Q1 2025[54]. - The total number of apartments in the operating portfolio was 7,621, with an average revenue per home of $4,019 in Q1 2025[55]. - The total multifamily properties occupied rate was 94.6% as of March 31, 2025, with a total of 2,087 units[75]. - The average occupancy rate for the multifamily properties was 94.6%, with the highest occupancy at Riverpark at Harrison at 97.6%[75]. Asset Management - The Company sold $45 million of non-strategic assets year-to-date, with an additional $34 million under binding contract[10]. - The acquisition of the remaining 15% interest in the Jersey City Urby joint venture for $38.5 million is expected to generate over $1 million in annualized synergies[16][18]. - The estimated value of land under binding contract is $34,250 thousand, with an additional estimated value of remaining land at $115,194 thousand[41]. - The company has 2,174 developable land parcel units remaining, after accounting for 544 units under binding contract[50]. - The Company completed land dispositions totaling $44,800,000 in 2025 to date[67]. - The Company acquired the Sable property in Jersey City for $38,500,000, adding 762 units to its portfolio[67]. - The company completed the purchase of its joint venture partner's interest in the Jersey City property, now named "Sable," subsequent to the quarter-end[80]. Financial Guidance and Liquidity - The Company maintains its 2025 guidance for Same Store Revenue Growth between 2.1% and 2.7%[22]. - A dividend of $0.08 per share was paid on April 10, 2025, for shareholders of record as of March 31, 2025[20]. - As of April 21, 2025, the Company had liquidity of approximately $146 million, including funds available on the revolver and cash on hand[12]. - The weighted average effective interest rate on the Company's debt is 4.96%, with a weighted average maturity of 2.8 years[12]. - Total Debt as of March 31, 2025, was $1,667,208,000, a slight decrease from $1,672,313,000 at the end of 2024[59]. - The Company’s Secured Permanent Loans Outstanding totaled $1,331,673,000 as of March 31, 2025[59]. - The secured revolving credit facility balance as of March 31, 2025, was $148 million, with an effective rate of 6.23%[77]. - The Company’s total debt as of March 31, 2025, included a secured term loan of $200 million, also at an effective rate of 6.23%[77]. Company Overview - The company is listed on the New York Stock Exchange under the trading symbol VRE[92]. - The corporate headquarters is located in Jersey City, New Jersey[92]. - The executive team includes Mahbod Nia as CEO and Amanda Lombard as CFO, among others[93]. - The company engages with several equity research firms, including Bank of America Merrill Lynch and Citigroup[93]. Performance Metrics - FFO per share is a key performance measure for the company, defined as net income before noncontrolling interests, excluding gains or losses from property transactions and impairments[88]. - The company believes FFO per share facilitates comparison of operating performance between equity REITs, although it may not be comparable to other real estate companies' definitions[89]. - NOI is considered a meaningful non-GAAP financial measure for assessing unlevered performance and making investment decisions[90]. - Same Store NOI is reported for properties owned throughout both reporting periods, providing insights into consistent performance[90].
Vertiv(VRT) - 2025 Q1 - Quarterly Report
2025-04-23 20:32
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q 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. 001-38518 Vertiv Holdings Co (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 81-2376902 (I.R.S Employer Identification No.) 505 N. Cleveland Ave., Westerville, Ohio 43082 (Address of principal execu ...
Live Oak(LOB) - 2025 Q1 - Quarterly Results
2025-04-23 20:32
Live Oak's performance in the quarter compared to the fourth quarter of 2024, includes these notable items: Exhibit 99.1 Live Oak Bancshares, Inc. Reports First Quarter 2025 Results WILMINGTON, NC, April 23, 2025 - Live Oak Bancshares, Inc. (NYSE: LOB) ("Live Oak" or "the Company") today reported first quarter of 2025 net income attributable to the Company of $9.7 million, or $0.21 per diluted share. "Live Oak Bank demonstrated strong growth across our lending and deposit franchises in the first quarter, al ...
Columbia Banking System(COLB) - 2025 Q1 - Quarterly Results
2025-04-23 20:32
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Baker Hughes(BKR) - 2025 Q1 - Quarterly Report
2025-04-23 20:31
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CACI(CACI) - 2025 Q3 - Quarterly Results
2025-04-23 20:31
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Weatherford International(WFRD) - 2025 Q1 - Quarterly Report
2025-04-23 20:30
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Meritage Homes(MTH) - 2025 Q1 - Quarterly Results
2025-04-23 20:30
Exhibit 99.1 Contacts: Emily Tadano, VP Investor Relations and External Communications (480) 515-8979 (office) investors@meritagehomes.com Meritage Homes reports first quarter 2025 results SCOTTSDALE, Ariz., April 23, 2025 - Meritage Homes Corporation (NYSE: MTH), the fifth-largest U.S. homebuilder, reported first quarter results for the period ended March 31, 2025. | | | | | Three Months Ended March 31, | | | --- | --- | --- | --- | --- | --- | | | | 2025 | | 2024 | % Chg | | Homes closed (units) | | 3,416 ...
Chemed(CHE) - 2025 Q1 - Quarterly Results
2025-04-23 20:30
CONTACT: Michael D. Witzeman (513) 762-6714 Chemed Reports First-Quarter 2025 Results CINCINNATI, April 23, 2025—Chemed Corporation (Chemed) (NYSE: CHE), which operates VITAS Healthcare Corporation (VITAS), one of the nation's largest providers of end-of-life care, and Roto-Rooter, the nation's largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its first quarter ended March 31, 2025, versus the comparable prior-year period. Results for Quarter En ...
Colony Bank(CBAN) - 2025 Q1 - Quarterly Results
2025-04-23 20:30
For additional information, contact: Derek Shelnutt EVP & Chief Financial Officer 229-426-6000, extension 6119 COLONY BANKCORP REPORTS FIRST QUARTER 2025 RESULTS DECLARES QUARTERLY CASH DIVIDEND OF $0.1150 PER SHARE FITZGERALD, GA. (April 23, 2025) – Colony Bankcorp, Inc. (NYSE: CBAN) ("Colony" or the "Company") today reported financial results for the first quarter of 2025. Financial highlights are shown below. Financial Highlights: The Company also announced that on April 23, 2025, the Board of Directors ...