Income Opportunity Realty Investors, Inc. reports Earnings for Quarter Ended September 30, 2022

Rhea-AI Summary

Income Opportunity Realty Investors, Inc. (IOR) reported strong financial results for the quarter ended September 30, 2022, with net income reaching $1.2 million, or $0.29 per diluted share, compared to $0.7 million or $0.17 per share for the same quarter in 2021. This reflects a significant increase in net income, demonstrating the company's solid performance in the real estate market.

Positive

• Net income increased to $1.2 million from $0.7 million YoY.
• Earnings per share rose to $0.29 compared to $0.17 in the previous year.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Income Opportunity Realty Investors, Inc. (NYSE American:IOR) is reporting its results of operations for the quarter ended September 30, 2022. For the three months ended September 30, 2022 and 2021, we reported net income attributable to common shares of $1.2 million or $0.29 per diluted share compared to a net income of $0.7 million or $0.17 per share for the same period in 2021.

About Income Opportunity Realty Investors, Inc.

Income Opportunity Realty Investors, Inc., a Dallas-based real estate investment company, currently holds a portfolio of notes receivable. The Company invests in real estate through direct equity ownership and partnerships. For more information, visit the Company’s website at www.incomeopp-realty.com.

INCOME OPPORTUNITY REALTY INVESTORS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Revenues:
Other Income		$	-			$	-			$	-			$	-
Expenses:
General and administrative			114				88				374				376
Advisory fee to related party			283				257				824				849
Total operating expenses			397				345				1,198				1,225
Net operating loss			(397	)			(345	)			(1,198	)			(1,225	)
Interest income from related parties			1,821				1,248				4,506				3,697
Other Income			-				-				-				1,179
Income tax provision			(236	)			(191	)			(646	)			(768	)
Net income applicable to common shares			1,188				712				2,662				2,883
Earnings per share
Basic and diluted		$	0.29			$	0.17			$	0.64			$	0.69
Weighted average common shares used in computing earnings per share
Basic and diluted			4,168,414				4,168,414				4,168,414				4,168,414

 

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Income Opportunity Realty Investors, Inc.

Investor Relations

Erik Johnson (469) 522-4200

Investor.relations@incomeopp-invest.com

Source: Income Opportunity Realty Investors, Inc.

FAQ

What are Income Opportunity Realty Investors' earnings for Q3 2022?

For Q3 2022, Income Opportunity Realty Investors reported a net income of $1.2 million, or $0.29 per diluted share.

How does IOR's Q3 2022 net income compare to Q3 2021?

In Q3 2022, IOR's net income was $1.2 million, a significant increase from $0.7 million in Q3 2021.

What is the significance of IOR's earnings per share for Q3 2022?

IOR's earnings per share for Q3 2022 were $0.29, up from $0.17 in Q3 2021, indicating improved profitability.

How has IOR performed financially in recent quarters?

IOR has shown growth in net income and earnings per share in recent quarters, suggesting strong operational performance.