Exhibit 99.1
BBX Capital, Inc. Reports Financial Results
FORT LAUDERDALE, Florida – May 10, 2024 -- BBX Capital, Inc. (OTCQX: BBXIA) (PINK: BBXIB) (“BBX Capital” or the “Company”) reported today its financial results for the first quarter of 2024.
Selected highlights of BBX Capital’s consolidated financial results include:
First Quarter 2024 Compared to First Quarter 2023
● | Total consolidated revenues of $81.0 million vs. $95.0 million |
● | Loss before income taxes of $(15.4) million vs. income before taxes of $9.2 million |
● | Net loss attributable to shareholders of $(13.0) million vs. net income attributable to shareholders of $7.9 million |
● | Diluted loss per share of ($0.94) vs. diluted earnings per share of $0.55 |
Balance Sheet as of March 31, 2024
● | Cash and cash equivalents of $108.2 million (including $3.1 million held in variable interest entities) |
| ● | Securities available for sale of $30.6 million |
● | Total consolidated assets of $657.9 million |
● | Total shareholders' equity of $299.3 million |
● | Fully diluted book value per share of $20.20 (1) |
(1) | Fully diluted book value per share is shareholders’ equity divided by the number of BBX Capital’s Class A and Class B common shares and unvested restricted stock awards outstanding on March 31, 2024. |
Additional Information
For more complete and detailed information regarding BBX Capital and its financial results, business, operations, investments, and risks, please see BBX Capital’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, which will be available on the SEC's website, https://www.sec.gov, and on BBX Capital’s website, www.BBXCapital.com on May 10, 2024.
About BBX Capital, Inc.: BBX Capital, Inc. (OTCQX: BBXIA) (PINK: BBXIB) is a Florida-based diversified holding company whose principal holdings include BBX Capital Real Estate, BBX Sweet Holdings, and Renin. For additional information, please visit www.BBXCapital.com.
BBX Capital, Inc. Contact Info:
Investor Relations Contact:
Leslie Martinez, Investor Relations
P: 954-940-5300
Email: investorrelations@BBXCapital.com
Media Relations Contact:
Kip Hunter, Kip Hunter Marketing
P: 954-303-5551
Email: kip@kiphuntermarketing.com