Star Equity Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 06:29 am
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Star Equity Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 24.24 million compared to USD 28.86 million a year ago. Revenue was USD 24.24 million compared to USD 28.86 million a year ago. Net loss was USD 1.88 million compared to USD 2.14 million a year ago. Basic loss per share was USD 0.15 compared to USD 0.51 a year ago.
For the nine months, sales was USD 80.01 million compared to USD 77.02 million a year ago. Revenue was USD 80.01 million compared to USD 77.02 million a year ago. Net loss was USD 7.16 million compared to net income of USD 1.44 million a year ago. Basic loss per share was USD 0.59.
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.