New Concept Energy, Inc. Reports Fourth Quarter and Full Year 2024 Results
New Concept Energy (NYSE American: GBR) reported its Q4 and full-year 2024 financial results. The company reduced its net loss to $19,000 in Q4 2024 from $39,000 in Q4 2023. For the full year 2024, net loss improved to $18,000 compared to $21,000 in 2023.
Key financial highlights for 2024:
- Rental revenue remained stable at $101,000
- Oil and gas management fees decreased to $45,000 from $51,000 due to lower oil and gas prices
- Operating expenses for real estate decreased to $48,000 from $57,000
- General and administrative expenses slightly decreased to $335,000 from $338,000
- Interest income declined to $213,000 from $222,000
The Dallas-based company owns 191 acres in Parkersburg, West Virginia, featuring four structures totaling approximately 53,000 square feet.
New Concept Energy (NYSE American: GBR) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024. L'azienda ha ridotto la sua perdita netta a $19.000 nel quarto trimestre del 2024, rispetto ai $39.000 nel quarto trimestre del 2023. Per l'intero anno 2024, la perdita netta è migliorata a $18.000 rispetto ai $21.000 del 2023.
Principali evidenze finanziarie per il 2024:
- Le entrate da affitto sono rimaste stabili a $101.000
- Le commissioni di gestione di petrolio e gas sono diminuite a $45.000 da $51.000 a causa del calo dei prezzi del petrolio e del gas
- Le spese operative per il settore immobiliare sono diminuite a $48.000 da $57.000
- Le spese generali e amministrative sono leggermente diminuite a $335.000 da $338.000
- Le entrate da interessi sono scese a $213.000 da $222.000
L'azienda con sede a Dallas possiede 191 acri a Parkersburg, Virginia Occidentale, con quattro strutture che totalizzano circa 53.000 piedi quadrati.
New Concept Energy (NYSE American: GBR) reportó sus resultados financieros del cuarto trimestre y del año completo 2024. La compañía redujo su pérdida neta a $19,000 en el cuarto trimestre de 2024, desde $39,000 en el cuarto trimestre de 2023. Para el año completo 2024, la pérdida neta mejoró a $18,000 en comparación con $21,000 en 2023.
Aspectos financieros clave para 2024:
- Los ingresos por alquiler se mantuvieron estables en $101,000
- Las tarifas de gestión de petróleo y gas disminuyeron a $45,000 desde $51,000 debido a la caída de los precios del petróleo y del gas
- Los gastos operativos de bienes raíces disminuyeron a $48,000 desde $57,000
- Los gastos generales y administrativos disminuyeron ligeramente a $335,000 desde $338,000
- Los ingresos por intereses cayeron a $213,000 desde $222,000
La empresa con sede en Dallas posee 191 acres en Parkersburg, Virginia Occidental, con cuatro estructuras que totalizan aproximadamente 53,000 pies cuadrados.
New Concept Energy (NYSE American: GBR)는 2024년 4분기 및 연간 재무 결과를 발표했습니다. 이 회사는 2023년 4분기 $39,000에서 2024년 4분기 $19,000으로 순손실을 줄였습니다. 2024년 전체 연도에 대한 순손실은 2023년의 $21,000에 비해 $18,000으로 개선되었습니다.
2024년 주요 재무 하이라이트:
- 임대 수익은 $101,000으로 안정적으로 유지되었습니다.
- 석유 및 가스 관리 수수료는 석유 및 가스 가격 하락으로 인해 $51,000에서 $45,000으로 감소했습니다.
- 부동산 운영 비용은 $57,000에서 $48,000으로 감소했습니다.
- 일반 관리 비용은 $338,000에서 $335,000으로 소폭 감소했습니다.
- 이자 수익은 $222,000에서 $213,000으로 감소했습니다.
달라스에 본사를 둔 이 회사는 웨스트버지니아주 파커스버그에 191에이커를 소유하고 있으며, 총 약 53,000 평방피트의 네 개의 구조물이 있습니다.
New Concept Energy (NYSE American: GBR) a annoncé ses résultats financiers du quatrième trimestre et de l'année entière 2024. L'entreprise a réduit sa perte nette à 19 000 $ au quatrième trimestre 2024 contre 39 000 $ au quatrième trimestre 2023. Pour l'année entière 2024, la perte nette s'est améliorée à 18 000 $ par rapport à 21 000 $ en 2023.
Principaux faits financiers pour 2024 :
- Les revenus locatifs sont restés stables à 101 000 $
- Les frais de gestion des hydrocarbures ont diminué à 45 000 $ contre 51 000 $ en raison de la baisse des prix du pétrole et du gaz
- Les dépenses d'exploitation pour l'immobilier ont diminué à 48 000 $ contre 57 000 $
- Les frais généraux et administratifs ont légèrement diminué à 335 000 $ contre 338 000 $
- Les revenus d'intérêts ont chuté à 213 000 $ contre 222 000 $
La société basée à Dallas possède 191 acres à Parkersburg, en Virginie-Occidentale, avec quatre structures totalisant environ 53 000 pieds carrés.
New Concept Energy (NYSE American: GBR) hat seine finanziellen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht. Das Unternehmen reduzierte seinen Nettoverlust im vierten Quartal 2024 auf 19.000 $ gegenüber 39.000 $ im vierten Quartal 2023. Für das gesamte Jahr 2024 verbesserte sich der Nettoverlust auf 18.000 $ im Vergleich zu 21.000 $ im Jahr 2023.
Wichtige finanzielle Highlights für 2024:
- Die Mieteinnahmen blieben stabil bei 101.000 $
- Die Verwaltungsgebühren für Öl und Gas sanken aufgrund niedrigerer Öl- und Gaspreise auf 45.000 $ von 51.000 $
- Die Betriebskosten für Immobilien sanken auf 48.000 $ von 57.000 $
- Die allgemeinen und administrativen Ausgaben sanken leicht auf 335.000 $ von 338.000 $
- Die Zinserträge fielen auf 213.000 $ von 222.000 $
Das in Dallas ansässige Unternehmen besitzt 191 Acres in Parkersburg, West Virginia, mit vier Gebäuden, die insgesamt etwa 53.000 Quadratfuß umfassen.
- Reduced net loss by 14.3% for full year 2024
- Decreased real estate operating expenses by 15.8%
- Maintained stable rental revenue
- 11.8% decline in oil and gas management fees
- 4.1% decrease in interest income
- Continued operating at a net loss
Insights
New Concept Energy's Q4 and full-year 2024 results reveal marginal improvements in an otherwise struggling operation. The company narrowed its quarterly net loss by
The company's revenue profile remains concerning. Rental income from its 191-acre West Virginia property with 53,000 square feet of structures stayed flat at
Cost control appears to be management's primary strategy. Real estate operating expenses decreased to
With a market cap of
During the three months ended December 31,2024 the Company reported a net loss of
For the full year ended December 31, 2024 the Company reported a net loss of
Fiscal 2024 as compared to 2023
Revenues: Revenues from rent for the leased property was
Operating Expenses: Operating expenses for the real estate property was
Interest Income: Interest Income was
About New Concept Energy, Inc.
New Concept Energy, Inc. is a
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY |
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CONSOLIDATED BALANCE SHEETS |
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(amounts in thousands) |
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At December 31, |
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|
2024 |
|
2023 |
||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ |
363 |
$ |
447 |
||
| Other current assets |
|
9 |
|
12 |
||
| Total current assets |
|
372 |
|
459 |
||
| Property and equipment, net | ||||||
| Land, buildings and equipment |
|
636 |
|
629 |
||
| Note and Interest Receivable - related party | ||||||
| Note Receivable |
|
3,542 |
|
3,542 |
||
| Interest Receivable |
|
44 |
|
- |
||
|
3,586 |
|
3,542 |
|||
| Total assets | $ |
4,594 |
$ |
4,630 |
||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY |
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CONSOLIDATED BALANCE SHEETS - CONTINUED |
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(amounts in thousands, except share amounts) |
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|
|
|
|
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|
|
At December 31, |
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|
2024 |
|
|
|
2023 |
|
| Liabilities and stockholders' equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable - trade (including |
$ |
20 |
|
$ |
36 |
|
||
| Accrued expenses |
|
37 |
|
|
39 |
|
||
| Total current liabilities |
|
57 |
|
|
75 |
|
||
| Stockholders' equity | ||||||||
| Series B convertible preferred stock, |
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| of |
|
1 |
|
|
1 |
|
||
| Common stock, |
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| shares; issued and outstanding, 5,131,934 shares | ||||||||
| at December 31, 2024 and 2023 |
|
51 |
|
|
51 |
|
||
| Additional paid-in capital |
|
63,579 |
|
|
63,579 |
|
||
| Accumulated deficit |
|
(59,094 |
) |
|
(59,076 |
) |
||
|
4,537 |
|
|
4,555 |
|
|||
| Total liabilities & stockholders' equity | $ |
4,594 |
|
$ |
4,630 |
|
||
NEW CONCEPT ENERGY, INC. AND SUBSIDIARY |
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CONSOLIDATED STATEMENTS OF OPERATIONS |
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(amounts in thousands, except per share data) |
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Year Ended December 31, |
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|
2024 |
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|
2023 |
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| Revenue | ||||||||
| Rent | $ |
101 |
|
$ |
101 |
|
||
| Management Fee |
|
45 |
|
|
51 |
|
||
|
146 |
|
|
152 |
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| Operating Expenses | ||||||||
| Operating Expenses |
|
48 |
|
|
57 |
|
||
| Corporate general and administrative |
|
335 |
|
|
338 |
|
||
| Total Operating Expenses |
|
383 |
|
|
395 |
|
||
| Operating loss |
|
(237 |
) |
|
(243 |
) |
||
| Other Income | ||||||||
| Interest income from a related party |
|
196 |
|
|
213 |
|||
| Interest income |
|
17 |
|
|
9 |
|
||
| Other income |
|
6 |
|
|
- |
|
||
| Total Other income |
|
219 |
|
|
222 |
|
||
| Net loss applicable to common shares | $ |
(18 |
) |
$ |
(21 |
) |
||
| Net loss per common share-basic and diluted | $ |
(0.01 |
) |
$ |
(0.01 |
) |
||
| Weighted average common and equivalent shares outstanding - basic and diluted |
|
5,132 |
|
|
5,132 |
|
||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250320401716/en/
New Concept Energy Inc.
Gene Bertcher
(800) 400-6407
info@newconceptenergy.com
Source: New Concept Energy, Inc.
FAQ
What were New Concept Energy's (GBR) full-year 2024 financial results?
How did GBR's rental revenue perform in 2024?
Why did GBR's oil and gas management fees decline in 2024?
What are New Concept Energy's (GBR) real estate holdings?
How much did GBR reduce its operating expenses in 2024?
