CBL & Associates Properties, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:15 pm EDT
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CBL & Associates Properties, 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 124.84 million compared to USD 131.83 million a year ago. Revenue was USD 129.87 million compared to USD 137.02 million a year ago. Net loss was USD 20.79 million compared to USD 41.39 million a year ago. Basic loss per share from continuing operations was USD 0.67 compared to USD 1.34 a year ago. Diluted loss per share from continuing operations was USD 0.67 compared to USD 1.34 a year ago.
For the six months, sales was USD 255.17 million compared to USD 267.16 million a year ago. Revenue was USD 266.23 million compared to USD 277.12 million a year ago. Net loss was USD 18.53 million compared to USD 82.11 million a year ago. Basic loss per share from continuing operations was USD 0.61 compared to USD 2.83 a year ago. Diluted loss per share from continuing operations was USD 0.61 compared to USD 2.83 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.
CBL & ASSOCIATES PROPERTIES, INC. 
