J.W. Mays, Inc. announced its financial results for the fiscal year ended July 31, 2024, reporting a net loss of US$0.20 per share. This represents an increase in loss compared to the US$0.041 loss per share recorded in fiscal year 2023. The company's total revenue for the fiscal year stood at US$21.6 million.
Revenue for fiscal year 2024 decreased by 4.4% compared to the previous fiscal year. The company's annual report highlighted ongoing risks, including increasing costs for property improvements and a decline in demand for commercial real estate rental space since 2020, exacerbated by remote work trends.
As of September 3, 2024, J.W. Mays had 2,015,780 shares of common stock outstanding. The company also noted that its Chief Financial Officer, Ward Lyke, assumed the role of Vice President, Chief Financial Officer, and Treasurer in January 2024, overseeing key financial and cybersecurity risk management functions.
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