CBL & Associates Properties, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 16, 2022 at 04:15 pm EDT
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CBL & Associates Properties, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 135.33 million compared to USD 128.18 million a year ago. Revenue was USD 140.1 million compared to USD 133.18 million a year ago. Net loss was USD 40.72 million compared to USD 26.76 million a year ago. Basic loss per share from continuing operations was USD 1.45 compared to USD 0.14 a year ago.
CBL & Associates Properties, Inc. is a self-managed, self-administered, fully integrated real estate investment trust (REIT). The Company owns, develops, acquires, leases, manages, and operates various properties. Its segments include Malls and All Other. The Malls segment includes malls, lifestyle centers and outlet centers. The All Other segment includes open-air centers, outparcels, office buildings, hotels, self-storage facilities, corporate-level debt and the Management Company. The Company primarily conducts its business through CBL & Associates Limited Partnership (the Operating Partnership), which is a variable interest entity. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. It owns and manages a portfolio, which is comprised of approximately 94 properties totaling 58.5 million square feet across 22 states, including 56 enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets.