Veris Residential, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 05:06 pm EDT
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Veris Residential, 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 61.91 million compared to USD 47.31 million a year ago. Revenue was USD 68.73 million compared to USD 53.81 million a year ago. Net loss was USD 27.43 million compared to net income of USD 26.37 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to basic earnings per share from continuing operations of USD 0.24 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to diluted earnings per share from continuing operations of USD 0.24 a year ago. Basic loss per share was USD 0.3 compared to basic earnings per share of USD 0.25 a year ago. Diluted loss per share was USD 0.3 compared to diluted earnings per share of USD 0.25 a year ago.
For the six months, sales was USD 121.75 million compared to USD 91.26 million a year ago. Revenue was USD 135.69 million compared to USD 103.31 million a year ago. Net loss was USD 47.41 million compared to net income of USD 17.28 million a year ago. Basic loss per share from continuing operations was USD 0.56 compared to USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.56 compared to USD 0.11 a year ago. Basic loss per share was USD 0.56 compared to basic earnings per share of USD 0.12 a year ago. Diluted loss per share was USD 0.56 compared to diluted earnings per share of USD 0.12 a year ago.
Veris Residential, Inc. is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company owns, operates, and develops multifamily rental properties located primarily in the Northeast, as well as a portfolio of non-strategic land and commercial assets. The Company operates through two segments: multifamily real estate and services and commercial and other real estate. The Company provides property management, leasing, acquisition, development, construction and tenant-related services for its multifamily real estate portfolio and commercial and other real estate located in the United States. The Company owns and has interests in 24 multifamily rental properties as well as non-strategic assets comprised of one office property, four parking/retail properties, and developable land. It seeks to own a portfolio comprised primarily of Class A multifamily properties with premium amenities and offerings that reflect its commitment to sustainability.
VERIS RESIDENTIAL, INC. 
