Welcome to our dedicated page for Bbx Capital news (Ticker: BBXIA), a resource for investors and traders seeking the latest updates and insights on Bbx Capital stock.
BBX Capital, Inc. (OTCQX: BBXIA, PINK: BBXIB) is a Florida-based diversified holding company whose public news flow centers on its principal holdings: BBX Capital Real Estate, BBX Sweet Holdings, and Renin. The company’s Business Wire releases provide regular updates on consolidated financial results, segment performance, real estate and logistics projects, and capital markets actions.
Investors following BBXIA news can expect detailed quarterly and annual financial highlights, including total consolidated revenues, income or loss before income taxes, net income or loss attributable to shareholders, and balance sheet metrics such as cash and cash equivalents, securities available for sale, total consolidated assets, and shareholders’ equity. The company also reports selected financial data for its principal holdings, giving additional insight into BBX Capital Real Estate, BBX Sweet Holdings, and Renin.
News coverage also includes announcements related to real estate and logistics development through BBX Capital Real Estate and BBX Logistics Properties, such as joint ventures to acquire and redevelop sites in Florida into logistics parks. In addition, BBX Capital issues releases on corporate actions, including tender offers for its Class A Common Stock and strategic reviews aimed at preserving cash, mitigating losses, and adjusting operations in response to economic conditions.
Another important category of BBXIA news involves corporate governance and reporting status. The company has announced its intention to file a Form 15 to deregister its Class A and Class B Common Stock and suspend its SEC reporting obligations, while continuing to provide information required by OTC Markets rules. For readers tracking BBX Capital, this news page aggregates these types of updates in one place, making it easier to follow developments across its diversified holdings, strategic initiatives, and trading status over time.
BBX Capital has announced an increase in its share repurchase program from $10 million to $20 million for its Class A and Class B Common Stock. As of now, approximately $8.3 million has been repurchased, leaving $11.7 million still available for buybacks. The future repurchases will depend on market conditions and other factors. This initiative is aimed at enhancing shareholder value, signaling the company's confidence in its financial stability and growth potential.
BBX Capital has appointed Marcia Barry-Smith to its Board of Directors, bringing over 30 years of banking experience, primarily as a Senior Vice President at BankAtlantic and Citizens Federal Bank. She currently leads MBS Consulting Services and has significant involvement with various non-profit organizations in South Florida. BBX Capital's CEO, Jarett S. Levan, expressed confidence that her expertise will enhance the board's effectiveness in serving the community.
BBX Capital reported strong financial results for Q2 2021, achieving total revenues of $61.7 million, up from $26.6 million a year earlier. The company recorded a net income of $20.1 million and diluted earnings per share of $1.07, a significant improvement over the prior year's losses. Key contributors include the emergence of IT’SUGAR from bankruptcy, enhancing BBX Sweet Holdings' operations. The balance sheet remains robust with cash and equivalents of $101.9 million and total assets of $536.7 million, reflecting the company's commitment to long-term growth amidst economic challenges.
BBX Capital, Inc. (OTCQX: BBXIA) (PINK: BBXIB) is set to announce its financial results for Q2 2021 on August 10, 2021, after the market closes. The company operates as a diversified holding firm in Florida, with key holdings including BBX Capital Real Estate and BBX Sweet Holdings, which features IT’SUGAR and Renin. Investors are advised to look for insights into revenue, EPS, and overall financial performance in the upcoming report.
IT’SUGAR, a subsidiary of BBX Capital (OTCQX: BBXIA) (PINK: BBXIB), has appointed Mike Koempel as Chief Operating Officer. Koempel brings extensive retail experience, having previously served as COO at Victoria's Secret Lingerie and held various roles at L Brands. He expressed enthusiasm for joining IT’SUGAR, known for its unique ‘retailtainment’ model and expansion plans. IT’SUGAR operates 96 locations across North America, offering a variety of candy products. This leadership change aims to enhance the company's growth strategy.
BBX Capital (OTCQX: BBXIA) (PINK: BBXIB) has concluded a tender offer to purchase up to 3,500,000 shares of its Class A Common Stock at $8.00 per share. The offer, which ended on July 9, 2021, saw 1,402,785 shares tendered. As a result, BBX Capital will buy these shares for an approximate total of $11.2 million, which is about 9.3% of its Class A shares and 7.5% of total equity. Post-purchase, BBX Capital will have 17,317,805 shares outstanding, comprising 13,624,209 Class A and 3,693,596 Class B shares.
BBX Capital announced the preliminary results of its cash tender offer, aiming to purchase up to 3,500,000 shares of Class A Common Stock at $8.00 per share. The offer expired on July 9, 2021, with 1,420,481 shares tendered, accounting for approximately 9.5% of the Class A shares and 7.6% of total equity. The total expected purchase price is about $11.4 million. Final results and payments are anticipated to be confirmed by July 15, 2021. Any shares not accepted will be returned to shareholders.
BBX Capital Real Estate has successfully sold its 350-unit Altis Grand at The Preserve apartment community in Odessa, Florida, resulting in a cash distribution of approximately $5.8 million for BBXRE. The company anticipates recognizing equity earnings of about $4.9 million for the quarter ending September 30, 2021. The joint venture, initiated in 2018 and completed in 2020, had apartment units that were over 99% leased at the time of sale. This transaction marks a significant milestone for BBX Capital's real estate business.
BBX Capital (OTCQX: BBXIA, PINK: BBXIB) has amended its tender offer for Class A Common Stock, increasing the cash offer price from $6.75 to $8.00 per share. The number of shares available for purchase has been reduced from 4,000,000 to 3,500,000. The expiration date for the tender offer is extended from June 23, 2021, to July 9, 2021. To date, 34,365 shares have been tendered. Shareholders do not need to re-tender their shares to receive the increased price. For further information, the depositary and information agent can be contacted.
BBX Capital announced that IT’SUGAR has successfully emerged from bankruptcy, enabling BBX Capital to regain control and consolidate IT’SUGAR's financial results. IT’SUGAR filed for Chapter 11 bankruptcy on September 22, 2020, and the reorganization plan was confirmed by the Bankruptcy Court on June 16, 2021. The plan was largely accepted by creditors, with 99% voting in favor. IT’SUGAR currently operates 96 retail locations across the U.S. BBX Capital plans to file a Current Report on Form 8-K detailing further updates and pro forma financial data.