Quarterly ResultMay 14, 2026, 04:08 PM
Clipper Realty Q1 Net Loss Narrows to $4.24M; EPS $(0.30)
AI Summary
Clipper Realty Inc. reported a reduced net loss of $4.24 million, or $(0.30) per share, for the first quarter of 2026, significantly improving from a net loss of $13.35 million, or $(0.86) per share, in Q1 2025. This improvement was primarily due to the absence of a $33.78 million impairment loss recorded in the prior year. Total revenues decreased to $38.12 million from $39.40 million, driven by a substantial decline in commercial rental income, partially offset by growth in residential rental income. The company also recognized $3.60 million from a litigation settlement.
Key Highlights
- Net loss narrowed to $4.24 million in Q1 2026 from $13.35 million in Q1 2025.
- Basic and diluted net loss per share improved to $(0.30) from $(0.86) YoY.
- Total revenues decreased to $38.12 million in Q1 2026 from $39.40 million YoY.
- Residential rental income increased to $31.90 million from $29.19 million YoY.
- Commercial rental income decreased to $6.21 million from $10.21 million YoY.
- Operating expenses significantly decreased to $30.11 million from $62.98 million YoY.
- Company recognized $3.60 million income from litigation settlement in Q1 2026.
- Interest expense, net, increased to $15.55 million from $11.52 million YoY.