Quarterly ResultMay 8, 2026, 04:09 PM
Star Holdings Q1 Net Loss Widens to $(10.3)M; EPS $(0.85)
AI Summary
Star Holdings reported a widened net loss allocable to common shareholders of $(10.3) million, or $(0.85) per share, for the first quarter of 2026, compared to a net loss of $(7.6) million, or $(0.57) per share, in the prior year period. Total revenues increased to $20.9 million, driven by higher land development revenue, but this was offset by a significant increase in total costs and expenses, including a negative swing in unrealized gains/losses on equity investments. The company also deconsolidated a venture in March 2026, which contributed to land development revenue but resulted in a loss on deconsolidation.
Key Highlights
- Net loss allocable to common shareholders widened to $(10.3) million in Q1 2026 from $(7.6) million in Q1 2025.
- Basic and diluted loss per share increased to $(0.85) in Q1 2026 from $(0.57) in Q1 2025.
- Total revenues rose 43.2% to $20.9 million in Q1 2026, up from $14.6 million in Q1 2025.
- Total costs and expenses increased 28.6% to $33.2 million in Q1 2026 from $25.8 million in Q1 2025.
- Unrealized losses on equity investments were $(2.2) million in Q1 2026, compared to gains of $3.2 million in Q1 2025.
- A venture was deconsolidated in March 2026, recognizing $10.6 million land development revenue and a $0.4 million loss.
- Cash flows used in operating activities increased to $(8.4) million in Q1 2026 from $(6.3) million in Q1 2025.
- The company repurchased $2.0 million of common stock during Q1 2026.