InterGroup Q3 revenue rises on hospitality gains

InterGroup Corporation

INTG

0.00

Overview

US diversified holding company's fiscal Q3 revenue rose 21% yr/yr, driven by hospitality gains
Net income turned positive from a loss last year, helped by improved hotel performance
Real estate revenues fell 16% yr/yr, partially offsetting overall gains

Outlook

Company remains cautiously optimistic about San Francisco recovery, citing business travel and event demand
Company says it will continue to focus on liquidity and risk awareness in investment activities

Result Drivers

HOTEL PERFORMANCE - Higher room revenues, improved ADR and occupancy, and increased room availability drove stronger hospitality results
EVENT-RELATED DEMAND - Quarter benefited from event-related activity in San Francisco, including the Super Bowl
LOWER INVESTMENT LOSSES - Results benefited from substantially lower losses in marketable securities compared with the prior-year quarter

Company press release: ID:nGNXcgv1n6

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue		$20.4 mln

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