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 EDT
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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 1.62 compared to basic loss per share of USD 0.13 a year ago. Diluted earnings per share was USD 1.59 compared to diluted loss per share of USD 0.13 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 1.62 compared to basic loss per share of USD 0.44 a year ago. Diluted earnings per share was USD 1.6 compared to diluted loss per share of USD 0.44 a year ago.
Star Equity Holdings, Inc. is a diversified holding company. The Company operates through two divisions: Construction and Investments. The Construction division manufactures modular housing units for commercial and residential applications. Its Construction division operates in two businesses: modular building manufacturing, and structural wall panel and wood foundation manufacturing, including building supply retail operations. 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). Its Investments division holds its corporate-owned real estate, which includes its two manufacturing facilities in Maine that are leased to KBS and one manufacturing facility in Minnesota that is leased to Glenbrook.
STAR EQUITY HOLDINGS, INC. 
