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J. W. Mays Inc. (MAYS0.00%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in revenues to $5,643,444 from $5,414,843 in the same quarter the previous year. This increase is attributed to higher rent from existing tenants and new leases.
Real estate operating expenses for the quarter increased to $4,128,415 from $3,826,998 in the previous year, primarily due to higher real estate taxes, maintenance, and insurance expenses.
Administrative and general expenses decreased to $1,251,875 from $1,486,632, mainly due to a reduction in executive payroll costs.
The company reported a net loss of $157,681 for the quarter, compared to a net loss of $98,059 in the previous year. The increased loss is attributed to higher operating expenses.
Cash provided by operating activities was $1,419,209, while cash used in investing and financing activities was $662,849 and $575,339, respectively.
J. W. Mays had a working capital of $1,490,663 as of January 31, 2025. The company anticipates incurring additional capital expenditures of $1.5 million over the next twelve months.
The filing also details various leasing activities, including new leases and lease extensions at properties in Brooklyn, New York, and Circleville, Ohio.
J. W. Mays continues to focus on maintaining its real estate operations, with a significant portion of its revenue coming from rental income.
The company faces risks related to economic conditions, regulatory changes, and tenant lease cancellations, as outlined in the risk factors section of the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the J. W. Mays Inc. quarterly 10-Q report dated March 13, 2025. To report an error, please email earnings@qz.com.