New England Real Asso | 10-Q: FY2025 Q3 Revenue: USD 23.69 M

Revenue: As of FY2025 Q3, the actual value is USD 23.69 M.

EPS: As of FY2025 Q3, the actual value is USD -4.48.

EBIT: As of FY2025 Q3, the actual value is USD 10.16 M.

Segment Revenue

• Rental Income: For the nine months ended September 30, 2025, rental income was $65,025,406, an increase of $5,452,281 or 9.2% compared to the same period in 2024. Excluding revenues from Hill Estates, 26 Brighton Avenue, and 90 Concord properties, rental income increased by $2,087,000 or 3.5%.

Operational Metrics

• Net Income: The Partnership reported net income of $7,423,771 for the nine months ended September 30, 2025, a decrease of $4,021,949 or 35.1% compared to the same period in 2024.
• Income Before Other Income (Expense): For the nine months ended September 30, 2025, income before other income (expense) was $18,041,321, a decrease of $719,292 or 3.8% compared to the same period in 2024.

Cash Flow

• Operating Cash Flow: Net cash provided by operating activities was $20,355,501 for the nine months ended September 30, 2025, compared to $19,965,878 for the same period in 2024.
• Investing Activities: Net cash used in investing activities was $44,941,261 for the nine months ended September 30, 2025, compared to $9,570,177 for the same period in 2024.

Unique Metrics

• Interest Expense: Interest expense for the nine months ended September 30, 2025 was $13,377,493, an increase of $1,739,773 or 14.9% compared to the same period in 2024.
• Interest Income: Interest income for the nine months ended September 30, 2025 was $1,765,468, a decrease of $1,648,152 or 48.3% compared to the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: The Partnership anticipates that cash from operations will be sufficient to fund its current operations, pay distributions, and make required debt payments. The Mill Street Development project is expected to be completed during the fourth quarter of 2025, with a total investment anticipated to be approximately $33 million.
• Non-Core Business: The Partnership has a stock repurchase program in place, with the authorization to repurchase up to $5 million worth of Depositary Receipts and Partnership Units within 12 months of the effective date of the plan.