Star Equity Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 08:30 am
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Star Equity Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 8.89 million compared to USD 16.81 million a year ago. Revenue was USD 8.89 million compared to USD 16.81 million a year ago. Net income was USD 25.59 million compared to net loss of USD 1.58 million a year ago. Basic earnings per share was USD 8.1 compared to basic loss per share of USD 0.65 a year ago. Diluted earnings per share was USD 7.95 compared to diluted loss per share of USD 0.65 a year ago.
For the six months, sales was USD 21.24 million compared to USD 28.44 million a year ago. Revenue was USD 21.24 million compared to USD 28.44 million a year ago. Net income was USD 26.03 million compared to net loss of USD 5.28 million a year ago. Basic earnings per share was USD 8.1 compared to basic loss per share of USD 2.2 a year ago. Diluted earnings per share was USD 8 compared to diluted loss per share of USD 2.2 a year ago.
Star Equity Holdings, Inc. is a diversified holding company. The Company operates through two divisions: Building Solutions and Investments. The Building Solutions division operates in three businesses: modular building manufacturing; structural wall panel and wood foundation manufacturing, including building supply distribution operations; and glue-laminated timber (glulam) column, beam, and truss manufacturing. The modular building manufacturing business services the northeast United States and is operated by KBS Builders, Inc. (KBS) in Maine. The structural wall panel and wood foundation manufacturing business is operated by EdgeBuilder, Inc., and the retail building supplies are sold through Glenbrook Building Supply, Inc. (Glenbrook). The Companyâs Investments division manages and finances the Companyâs real estate assets as well as its investment positions in private and public companies. Its Investments division also holds and manages two manufacturing facilities in Maine.