Transcontinental Realty Investors(US:TCI)2024-05-09 18:00Financial Performance - Net income attributable to the Company decreased by $1.0 million from $3.5 million in Q1 2023 to $2.5 million in Q1 2024, representing a decline of approximately 28.6%[4] - Total revenue for Q1 2024 was $11.9 million, compared to $11.7 million in Q1 2023, reflecting a growth of approximately 1.8%[7] - Earnings per diluted share decreased from $0.41 in Q1 2023 to $0.30 in Q1 2024, a decline of approximately 26.8%[1] Revenue and Occupancy - Rental revenues increased by $0.3 million from $11.0 million in Q1 2023 to $11.3 million in Q1 2024, an increase of approximately 2.7%[2] - Total occupancy was reported at 79% as of March 31, 2024, with multifamily properties at 94% and commercial properties at 49%[6] Operating Loss and Expenses - Net operating loss decreased by $1.2 million from $2.6 million in Q1 2023 to $1.3 million in Q1 2024, a reduction of approximately 46.2%[3] - General and administrative expenses decreased significantly from $2.9 million in Q1 2023 to $1.3 million in Q1 2024, a reduction of approximately 55.2%[3] Interest and Currency Transactions - Interest income decreased by $2.7 million from $8.8 million in Q1 2023 to $6.1 million in Q1 2024, a decline of approximately 30.6%[7] - The Company reported a gain on foreign currency transactions of $0 in Q1 2024, compared to a gain of $0.971 million in Q1 2023[7] Loan and Financing - The Company extended the maturity of its loan on Windmill Farms to February 28, 2026, at an interest rate of 7.50%[6]