Tue, Nov 12, 2:32 PM (239 days ago)
Great Elm Group, Inc. (GEG), ticker GEG, reported its financial results for the quarter ending September 30, 2024. Revenues increased to $3,992,000, up 21% from $3,310,000 in the same period last year, driven by real estate property sales and higher management fees despite a decline in incentive fees. Operating costs rose to $5,353,000, leading to an operating loss of $1,996,000, compared to a loss of $1,450,000 in 2023. Net income from continuing operations was $2,974,000, slightly up from $2,758,000, with earnings per share remaining steady at $0.09. Cash flow from operations showed a decrease, with $5,787,000 used in the current quarter, compared to $6,126,000 in 2023. The company maintained a cash balance of $44,150,000 and marketable securities totaling $7,500,000. Long-term debt stood at $26,160,000, with a debt-to-equity ratio of 0.3:1. GEG continues to explore investment opportunities while managing risks associated with market conditions and operational uncertainties. Overall, the quarter reflects a stable financial position amid strategic growth efforts.