Comstock Q1 revenue rises driven by expansion of managed portfolio

Comstock Holding Companies, Inc. Class A

CHCI

0.00

Overview

US real estate asset manager's Q1 revenue rose 38% yr/yr
Q1 net income increased 25% yr/yr
Adjusted EBITDA for Q1 grew 6%, driven by recurring fee-based revenue

Outlook

Company did not provide specific guidance for the current quarter or full year

Result Drivers

PORTFOLIO EXPANSION - Co said revenue growth was driven by expansion of managed portfolio, including new asset acquisitions and increased assets under management
FEE-BASED REVENUE - Higher recurring fee-based revenue from property management subsidiaries and asset management fees contributed to results
NEW CONTRACTS AND HIGH OCCUPANCY - ParkX subsidiary secured 13 new contracts and commercial and residential portfolios remained above 90% leased

Company press release: ID:nBw4kdgsba

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$17.45 mln
Q1 EPS		$0.19
Q1 Net Income		$1.99 mln
Q1 Adjusted EBITDA		$2.17 mln

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