Comstock Holding Companies, Inc. issued a corrected press release for its fourth quarter and fiscal year ended December 31, 2024, rectifying an understatement of Q4 2024 Adjusted EBITDA. The company's actual Q4 2024 Adjusted EBITDA was $5.377 million, representing a 148% increase from $2.165 million in Q4 2023.
For the fourth quarter of 2024, revenue increased to $16.908 million, up 53.5% from $11.016 million in Q4 2023. Net income surged to $10.327 million, a 452.2% increase from $1.870 million in the prior year, and diluted EPS rose to $0.99 from $0.18. For the full fiscal year 2024, revenue grew 14.7% to $51.294 million, net income increased 87.0% to $14.560 million, and diluted EPS was $1.41, up 83.1% from $0.77 in FY 2023.
The company's managed portfolio grew to 72 assets in Q4 2024 from 49 assets in Q4 2023. Stabilized commercial and residential properties in the managed portfolio are more than 90% leased. The Row at Reston Station, a 1.5 million square foot development, is expected to be substantially delivered by the second half of 2025, including Virginia’s first JW Marriott hotel and branded residential tower.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.