Latest news with #ComstockHoldingCompanies
Yahoo
6 days ago
- Business
- Yahoo
Comstock Q2 Earnings Surge Y/Y on Recurring Fee Growth
Shares of Comstock Holding Companies, Inc. CHCI have gained 10.9% since the company reported its earnings for the quarter ended June 30, 2025, outperforming the S&P 500 index's 0.5% growth over the same period. Over the past month, the stock has advanced 24.2%, again topping the S&P 500's 2.1% gain, indicating strong investor enthusiasm following the release. Comstock reported second-quarter 2025 earnings per share of 14 cents, up from 9 cents in the prior-year quarter. The company's revenues rose 21% to $13 million from $10.8 million, while net income increased 53% to $1.4 million compared with $1 million a year earlier. Adjusted EBITDA also improved, climbing 39% to $2.2 million from $1.6 million in the same period last year, reflecting the company's expanding recurring, fee-based revenue streams and disciplined cost structure. Comstock Holding Companies, Inc. Price, Consensus and EPS Surprise Comstock Holding Companies, Inc. price-consensus-eps-surprise-chart | Comstock Holding Companies, Inc. Quote Other Key Business Metrics Recurring, fee-based revenues from property management and operating subsidiaries surged 42%, supported by a 124% increase in third-party revenue from the ParkX parking management business. ParkX alone reported a 55% year-over-year revenue gain and expanded its service portfolio to include porter and janitorial offerings, positioning it for further growth in 2025 and beyond. Comstock's managed portfolio expanded to 82 assets from 69 a year earlier, with its stabilized commercial portfolio 93% leased and residential portfolio 97% leased. Notably, average in-place rents for residential assets rose 3% over last year. Leasing momentum remained solid, with seven commercial leases totaling 33,000 square feet signed in the quarter and 118,000 square feet leased year-to-date. On the residential side, 296 units were leased year to date, underlining healthy demand across asset classes. Management Commentary Chairman and CEO Christopher Clemente emphasized that the company's double-digit growth in all major financial metrics underscored the effectiveness of its strategic plan and low-risk, high-reward business model. He highlighted the company's debt-free balance sheet, more than $2 million in operating cash generated in the quarter, and the stability offered by its long-term asset and property management agreements. Clemente also pointed to the continued appeal of Comstock's high-quality, mixed-use, transit-oriented properties in the Washington, D.C. area, which are benefiting from growing return-to-office mandates. Factors Influencing Headline Numbers The significant increase in recurring fee-based revenue was a primary driver of the earnings gains. In particular, strong growth from ParkX and supplemental asset management fees contributed to higher Adjusted EBITDA. High leasing activity across commercial and residential portfolios, combined with steady rent growth and expansion of service offerings, further supported the top and bottom lines. Guidance The company outlined key operational milestones for the remainder of 2025. These include the delivery of Phase II of Reston Station — The Row — beginning in the third quarter. This phase features high-profile assets such as a JW Marriott luxury hotel and condominiums, a luxury residential tower, trophy-class office buildings, and premium retail spaces. Management also cited ongoing advanced lease negotiations for the office buildings and strong pre-sales for both condominiums (approximately $78 million) and hotel event space (around $1.7 million) ahead of their respective deliveries in late 2025. Other Developments The Row at Reston Station, recognized as the largest privately funded development in the Washington, D.C. region, represents a major development milestone for Comstock. The project will bring diverse offerings to market over the next several quarters, including high-demand office space, upscale dining establishments like Tous les Jour, Noku Sushi, and Ebbitt House, and two ParkX-managed parking garages with more than 2,600 spaces serving residents and visitors. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comstock Holding Companies, Inc. (CHCI): Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Business Wire
07-08-2025
- Business
- Business Wire
Comstock Reports Second Quarter 2025 Results
RESTON, Va.--(BUSINESS WIRE)--Comstock Holding Companies, Inc. (Nasdaq: CHCI) ('Comstock' or the 'Company'), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced its financial results for the second quarter ended June 30, 2025. 'I am pleased to report that we continue to deliver on the growth objectives that have been the central theme of our strategic plan, best evidenced by achieving double-digit growth across each one of our key financial metrics in Q2,' - Chris Clemente, CEO Share 'I am pleased to report that we continue to deliver on the growth objectives that have been the central theme of our strategic plan, best evidenced by achieving double-digit growth across each one of our key financial metrics in Q2,' said Christopher Clemente, Comstock's Chairman and Chief Executive Officer. 'The strength of our business model is characterized by the upward trajectory of our top and bottom lines and underpinned by its low-risk, high reward philosophy. With zero debt and a pristine balance sheet, we were able to generate over $2 million of operating cash in Q2 alone. This success was directly fueled by the growing fee-based revenue streams that we earn from our long-term asset and property management agreements, providing us with a stable foundation for growth and clear visibility into our future earnings potential.' Mr. Clemente continued, 'The high quality assets we manage continue to be amongst the most sought-after in the D.C. region, supported by our hard-working team of professionals that show up every day and are frequently recognized as best-in-class. The second half will see the official delivery of The Row at Reston Station - a remarkable project that is a significant development milestone for Comstock and will make what is already one of Virginia's premier destinations even better.' Key Performance Metrics Additional Information Stabilized Commercial managed portfolio leased percentage of 93%; 7 commercial leases executed in Q2, representing 33,000 sqft. of office and retail spaces; 118,000 sqft. leased YTD. Residential managed portfolio leased percentage of 97%; average in-place rents up 3% vs. prior year; 296 units leased YTD. ParkX subsidiary revenue increased 55% vs. prior year; announced expansion of service offerings to include porter and janitorial services, which is anticipated to drive additional growth in 2025 and beyond. The Row at Reston Station, the 2 nd of five development phases for Reston Station, was recently recognized by Washington Business Journal as the largest privately-funded development in the Washington, D.C. region. The development includes: JW Marriott luxury hotel and condominium tower Condominium pre-sales have generated approximately $78 million to-date and are scheduled to begin delivery in September 2025. Hotel includes Virginia's largest luxury conference and event space that is already in high demand - approximately $1.7 million in event pre-sale contracts secured, events commencing in September 2025. BLVD Haley luxury residential tower that is scheduled to begin delivery in early Q425 and be fully delivered (420 units) by Q126 2 Trophy-class office buildings Currently represent the only new Trophy office space in Northern Virginia and are in high-demand Advanced negotiations with major tenants underway to secure leases for significant square footage. Premium retail offerings set to open in H2-2025 and early 2026, including: Tous les Jour - Q325 Noku Sushi - Q425 Ebbitt House - Q126 2 ParkX-managed parking garages with a total of 2,600+ spaces that will serve all residents and visitors. Cautionary Statement Regarding Forward-Looking Statements This release may include "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by use of words such as "anticipate," "believe," "estimate," "may," "intend," "expect," "will," "should," "seeks" or other similar expressions. Forward-looking statements are based largely on our expectations and involve inherent risks and uncertainties, many of which are beyond our control. You should not place any undue reliance on any forward-looking statement, which speaks only as of the date made. Any number of important factors could cause actual results to differ materially from those projected or suggested by the forward-looking statements. Comstock specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments, or otherwise. About Comstock Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio that includes approximately 10 million square feet of stabilized, under construction, and planned assets that are strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in one of the nation's best real estate markets. Comstock's developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit COMSTOCK HOLDING COMPANIES, INC. Consolidated Statements of Operations (Unaudited; In thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue $ 12,972 $ 10,753 $ 25,611 $ 21,391 Operating costs and expenses: Cost of revenue 10,502 8,907 20,789 17,792 Selling, general, and administrative 609 546 1,144 1,081 Depreciation and amortization 78 73 158 141 Total operating costs and expenses 11,189 9,526 22,091 19,014 Income (loss) from operations 1,783 1,227 3,520 2,377 Other income (expense): Interest income 220 166 404 307 Gain (loss) on real estate ventures 9 (101 ) 18 (294 ) Other income (expense), net 73 11 55 33 Income (loss) from operations before income tax 2,085 1,303 3,997 2,423 Provision for (benefit from) income tax 639 357 962 567 Net income (loss) $ 1,446 $ 946 $ 3,035 $ 1,856 Weighted-average common stock outstanding: Net income (loss) per share: Basic $ 0.14 $ 0.10 $ 0.30 $ 0.19 Diluted $ 0.14 $ 0.09 $ 0.29 $ 0.18 Expand COMSTOCK HOLDING COMPANIES, INC. Non-GAAP Financial Measures (Unaudited; In thousands) Expand Adjusted EBITDA The following table presents a reconciliation of net income (loss) from continuing operations, the most directly comparable financial measure as measured in accordance with GAAP, to Adjusted EBITDA: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) $ 1,446 $ 946 $ 3,035 $ 1,856 Interest income (220 ) (166 ) (404 ) (307 ) Income taxes 639 357 962 567 Depreciation and amortization 78 73 158 141 Stock-based compensation 288 290 539 536 (Gain) loss on real estate ventures (9 ) 101 (18 ) 294 Adjusted EBITDA $ 2,222 $ 1,601 $ 4,272 $ 3,087 Expand The increase in Adjusted EBITDA for the three months ended June 30, 2025 is primarily driven by significant increases in recurring fee-based property and parking management revenue and supplemental asset management fee revenue. We define Adjusted EBITDA as net income (loss) from continuing operations, excluding the impact of interest expense (net of interest income), income taxes, depreciation and amortization, stock-based compensation, and gain or loss on equity method investments in real estate ventures. We use Adjusted EBITDA to evaluate financial performance, analyze the underlying trends in our business and establish operational goals and forecasts that are used when allocating resources. We expect to compute Adjusted EBITDA consistently using the same methods each period. We believe Adjusted EBITDA is a useful measure because it permits investors to better understand changes over comparative periods by providing financial results that are unaffected by certain non-cash items that are not considered by management to be indicative of our operational performance. While we believe that Adjusted EBITDA is useful to investors when evaluating our business, it is not prepared and presented in accordance with GAAP, and therefore should be considered supplemental in nature. Adjusted EBITDA should not be considered in isolation, or as a substitute, for other financial performance measures presented in accordance with GAAP. Adjusted EBITDA may differ from similarly titled measures presented by other companies.
Business Wire
27-05-2025
- Entertainment
- Business Wire
Comstock Announces Lineup for Summerbration 2025 at Loudoun Station
RESTON, Va.--(BUSINESS WIRE)--Comstock Holding Companies, Inc. (Nasdaq: CHCI) ('Comstock'), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced the full lineup for the Summerbration 2025 concert and event series that will be held at Loudoun Station. The free events, which include signature concerts, outdoor movies on Sundays, car shows, family-friendly activities, and wellness events, will kick off on Saturday, May 31 st and run through September 28 th. The first signature event of Summerbration 2025 will take place on Saturday, May 31 st and feature a free concert from Bruce in the USA, the nation's top Bruce Springsteen tribute band. On July 5 th, the energy of The Eras Tour will come to Loudoun Station with A Tribute to the Music of Taylor Swift featuring Kanin Wren, an event that will include a host of festive on-site activities that are sure to please fans of all ages. Wrapping up the signature concert events for Summerbration 2025 will be a highly anticipated performance on August 23 rd from The Legwarmers as part of an 80s Mayhem Event that will feature a photobooth, an 80s costume contest, and more. Sundays at Loudoun Station will feature Movies & More: A Wonderful Family Adventure, a weekly series of free outdoor movie screenings paired with themed activities for all ages. Highlights include a petting zoo, pet adoption event, karaoke night, a visit from Disney's Princess Jasmine, a foam party, Hawaiian dance lessons, and more fun surprises. Automotive enthusiasts will gather at Loudoun Station for a series of three car shows that will be held on Saturdays: June 14 th, August 16 th, and September 13 th. These events will spotlight some of the best cars in the D.C. Metro area and feature a live DJ as car lovers unite. 'We love seeing the community come together at Loudoun Station each summer,' said Tracy Schar, Chief Marketing Officer at Comstock. 'From live concerts to family movie nights and wellness events, Summerbration is all about creating moments that bring people joy. We can't wait to welcome everyone back for another great summer.' Rounding out the Summerbration 2025 lineup are free wellness-themed classes held each week, including Zumba classes each Tuesday and yoga classes hosted by YogaSix each Wednesday evening. There will also be Pop Up Zumba classes hosted by Rochi B Fitness on Sundays June 22 nd and September 28 th. New this year to Summerbration will be a unique Broadway-style circus performance from Vernardos Circus that will run from Thursday, September 18 th through Sunday September 28 th. Separate tickets are required to attend this event, please see the Summerbration 2025 website for details. Finally, Summerbration 2025 will also bring the return of the crowd-favorite Silent Dance Party on Saturday, September 12 th. All Summerbration attendees may enjoy up to three hours of free parking in the 9-story Metro Garage, courtesy of ParkX. For a full listing of Summerbration 2025 events and further information, please visit: About Comstock Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet at full build-out and including stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest-growing segments of one of the nation's best real estate markets. Comstock's developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit
Yahoo
15-05-2025
- Business
- Yahoo
Comstock Shares Decline 17% Despite Y/Y Increase in Q1 Earnings
Shares of Comstock Holding Companies, Inc. CHCI have declined 17.4% since the company reported its earnings for the quarter ended March 31, 2025. This compares to the S&P 500 index's 4.1% growth over the same time frame. Over the past month, the stock has declined 0.8% against the S&P 500's 4.5% growth, highlighting investor caution despite continued growth across Comstock's key metrics. Comstock reported first-quarter 2025 earnings per share of 15 cents, up from 9 cents in the prior-year quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.) The company posted revenues of $12.6 million, reflecting a 19% increase from $10.6 million in the year-ago quarter. This top-line expansion was driven by 20% growth in total recurring fee-based revenues. Net income rose sharply by 75% to $1.6 million compared to $0.9 million in the prior-year period. Adjusted EBITDA, a key profitability metric, grew 38% year over year to $2.1 million, primarily attributable to gains in property and parking management fees and supplemental asset management revenues. Comstock Holding Companies, Inc. price-consensus-eps-surprise-chart | Comstock Holding Companies, Inc. Quote Comstock's managed portfolio expanded to 76 assets in the first quarter, up from 65 a year ago. The company executed eight commercial leases totaling 85,000 square feet, maintaining a 93% leased rate across its stabilized commercial properties. Residential leasing performance remained equally strong, with a 96% leased rate and a 4% year-over-year increase in average in-place rents. A total of 143 residential units were leased year to date, underscoring sustained demand across both asset classes. ParkX, Comstock's parking management subsidiary, delivered a standout performance, posting a 56% increase in total revenue, driven by growth in third-party assets under management. This subsidiary's outperformance contributed meaningfully to consolidated financials and is expected to play a pivotal role in 2025 expansion plans. Chairman and CEO Christopher Clemente emphasized that first-quarter results were aligned with the company's long-term strategic objectives. He noted that Q1 marked the 25th consecutive quarter of topline revenue growth, a reflection of Comstock's recurring revenue model and operational efficiency. Clemente highlighted strong leasing momentum, citing new tenants such as commercial property insurance provider FM and high occupancy rates across premium residential properties. He also pointed to the forthcoming launch of The Row at Reston Station as a transformative milestone, reinforcing management's optimistic outlook for the remainder of the year. Comstock's revenue and earnings growth in the first quarter were propelled by steady increases in fee-based recurring revenue streams. The company benefited from stable operating cost controls, with selling, general and administrative expenses flat at $0.5 million compared to the year-ago period. Depreciation and amortization costs saw a modest year-over-year rise. A gain of $0.01 million from real estate ventures, reversing a $0.2 million loss in the prior-year period, also contributed to earnings growth. Tax provisions increased to $0.3 million from $0.2 million, consistent with higher pretax income. Comstock's expansion efforts during the quarter were concentrated on advancing construction at The Row at Reston Station. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Comstock Holding Companies, Inc. (CHCI): Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-05-2025
- Business
- Business Wire
Comstock Releases 2025 Investor Presentation
RESTON, Va.--(BUSINESS WIRE)-- Comstock Holding Companies, Inc. (Nasdaq: CHCI) ('Comstock' or the 'Company'), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today the public release of its 2025 Investor Presentation. The 2025 Investor Presentation has been posted to the ' Events & Presentations ' section of the Company's investor relations website. Full link: Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet at full build-out and including stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest-growing segments of one of the nation's best real estate markets. Comstock's developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit
