Comstock Q2 revenue rises 74% on portfolio expansion - CHCI News | RalliesComstock Q2 revenue rises 74% on portfolio expansion
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CHCI• Outlook
- Company did not provide specific guidance for future quarters or the full year
Overview
- US real estate developer's Q2 revenue rose 74% yr/yr, net income up 512%
- Adjusted EBITDA for Q2 increased 231% yr/yr, driven by managed portfolio expansion
- Quarter included $4.3 mln gain from Jericho Energy Ventures equity investments
Key details
| Metric | Actual |
|---|
| Q2 Revenue | $22.58 mln |
| Q2 EPS | $0.84 |
| Q2 Net Income | $8.85 mln |
| Q2 Adjusted EBITDA | $7.36 mln |
Result Drivers
- Portfolio expansion - Co said recurring fee-based revenue rose due to growth in managed portfolio and new management contracts
- Equity investment gains - Net income included $4.3 mln unrealized gain on Jericho Energy Ventures equity investments
- Fee revenue increase - Higher asset management, leasing, and acquisition fees contributed to profit growth
