Core Viewpoint - Star Equity Holdings, Inc. has announced preliminary key financial metrics for Q4 2024, indicating a strong performance compared to Q4 2023, driven by increased activity in the Building Solutions segment and the signing of two significant commercial contracts by its subsidiary KBS Builders, Inc. [1][2] Financial Metrics - For Q4 2024, Star expects to report revenues of approximately $17.1 million, an increase of 21.3% from $14.1 million in Q4 2023 [2][5] - Gross profit for Q4 2024 is projected to be around $4.4 million, up from $2.9 million in Q4 2023, reflecting improved margins [2][5] - Adjusted EBITDA from continuing operations is expected to be approximately $1.1 million, a turnaround from a loss of $0.1 million in Q4 2023 [2][5] Business Developments - KBS Builders, Inc. has signed two large commercial contracts valued at $3.1 million and $2.1 million for the construction of housing units in Maine, with manufacturing expected to begin in Q1 and Q2 of 2025 [2][5] - The company anticipates strong demand for new projects due to an ongoing housing shortage and increasing acceptance of modular construction methods [2][5] Company Overview - Star Equity Holdings, Inc. operates through three divisions: Building Solutions, Energy Services, and Investments [3] - The Building Solutions division includes modular building manufacturing, structural wall panel manufacturing, and glue-laminated timber manufacturing [4]
KBS Builders Wins Two Large Commercial Contracts Totaling $5.2 Million for Multifamily Construction Projects in Maine