Quarterly ResultJun 11, 2026, 08:07 AM
J.W. Mays Q3 Net Loss $(216.9K); 9-Month Loss $(1.06M); New $6.2M Loan
AI Summary
J.W. Mays, Inc. reported a net loss of $(216,863) or $(0.11) per share for the three months ended April 30, 2026, a significant decline from net income of $86,784 in the prior year period. For the nine months, the company posted a net loss of $(1,059,850) or $(0.53) per share, compared to a net loss of $(44,240) in the same period last year, driven by decreased rental income and increased expenses. The company secured a new $6.2 million mortgage loan in March 2026, partially used to repay an existing loan, and also extended a key operating lease.
Key Highlights
- Net loss for three months ended April 30, 2026, was $(216,863) or $(0.11) per share, down from $86,784 income.
- Net loss for nine months ended April 30, 2026, was $(1,059,850) or $(0.53) per share, compared to $(44,240) loss.
- Total revenues decreased by 5.6% to $5,314,751 for the three months and 6.2% to $15,777,647 for nine months.
- Secured a new $6,200,000 mortgage loan in March 2026 at 7.00% interest, repaying $3,126,576 of an old loan.
- Cash used in investing activities increased to $(4,145,391) for nine months, up from $(1,723,076) last year.
- Rent concessions increased significantly to $544,351 for the nine months ended April 30, 2026.
- Exercised a five-year option to extend the Jamaica Avenue lease through May 31, 2040.
- Company is actively marketing 25 Elm Place, Brooklyn, New York for sale.
Price Impact
More from MAYS