Canada's Becker Milk nine-month net income drops sharply on property value adjustments
Overview
Canada real estate firm's nine-month revenue rose slightly yr/yr
Net income fell more than 50% in the nine months ended Jan. 31 due to lower fair value adjustment gains
Adjusted funds from operations saw a slight decrease from prior year
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
PROPERTY REVENUE - Revenue growth was driven by higher property revenue, partially offset by reduced finance income
FAIR VALUE ADJUSTMENT - Net income fell mainly due to a $2,135,443 unfavourable change in the fair value adjustment to investment properties
GAINS FROM CLAIMS - Gains from an expropriation settlement and insurance recovery following a fire contributed positively to results
Company press release: ID:nACSsc4RWa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Adjusted FFO Per Share |
| C$0.32 |
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