Welcome to our dedicated page for Star Equity Holdings news (Ticker: STRR), a resource for investors and traders seeking the latest updates and insights on Star Equity Holdings stock.
Star Equity Holdings, Inc. reports news as a diversified holding company with Building Solutions, Business Services, Energy Services, and Investments activities. Company updates commonly cover operating and financial results, segment performance, Building Solutions backlog, stock repurchases, and the operating contribution of businesses added through its completed 2025 merger.
Recurring news themes for STRR also include material agreements, capital-structure disclosures, shareholder voting and governance matters, and communications from the Investments Division on portfolio positions and capital allocation. The Business Services segment provides recruitment process outsourcing, contingent workforce solutions, recruitment consulting, outsourced professional contract staffing, and managed service provider services.
Star Equity Holdings (Nasdaq: STRR) announced two major contracts for its subsidiary KBS Builders totaling $5.2 million for multifamily construction in Maine. The contracts include:
- $3.1 million for 32 modules (20 mixed-income housing units) in Portland, with manufacturing starting Q2 2025
- $2.1 million for 28 modules (14 townhouse units) in Bowdoinham, starting Q1 2025
The company also released preliminary Q4 2024 metrics showing:
- Revenue of $17.1 million (up from $14.1M in Q4 2023)
- Gross profit of $4.4 million (up from $2.9M)
- Non-GAAP adjusted EBITDA of $1.1 million (improved from -$0.1M loss)
Star Equity Holdings (STRR) has acquired Alliance Drilling Tools (ADT) for a cash-free, debt-free enterprise value of $12.65 million, marking a significant expansion into the Energy Services sector. The transaction includes $4.9 million in cash and 775,000 shares of Star's Series A Preferred Stock.
ADT, founded in 2009, specializes in rental, sale, and repair of downhole tools for oil, gas, geothermal, mining, and water-well industries. The company operates facilities in Texas, Wyoming, and Utah, serving primarily large, well-capitalized clients. For full year 2024, ADT reported:
- Revenue: $10.5 million
- Gross margin: 48%
- Adjusted EBITDA: $2.4 million
The acquisition includes real estate estimated at $3.0 million, for which Star plans to initiate a sale-leaseback process. ADT will retain its brand name and operate as Star's new Energy Services division, alongside existing Building Solutions and Investments divisions.
Star Equity Holdings (NASDAQ: STRR) has announced a cash dividend of $0.25 per share for holders of its 10% Series A Cumulative Perpetual Preferred Stock. The dividend will be paid on March 10, 2025, with a record date of March 1, 2025.
The company operates through two main divisions: Building Solutions and Investments. The Building Solutions division encompasses modular building manufacturing, structural wall panel and wood foundation manufacturing, and glue-laminated timber manufacturing. The Investments division manages the company's real estate assets and investment positions in private and public companies.
Star Equity Holdings (STRR) announced that its subsidiary, KBS Builders, has secured a $3.2 million contract for a multifamily housing project in Maine. The contract involves manufacturing 40 modules to construct five 4-unit townhouse condominiums in Lincoln County, with production starting in January and delivery scheduled for Q2 2025.
This contract represents the second of two potential contracts worth over $5 million mentioned in Star's Q3 2024 earnings release, following the previously announced $2.1 million Vermont project. The CEO highlighted this win as strengthening KBS' market position in New England and their ability to address the region's housing shortage.
Star Equity Holdings (NASDAQ: STRR) announced that its subsidiary, KBS Builders, has secured a $2.1 million contract to manufacture 16 modules for three 4-unit apartment buildings in Randolph, Vermont. Manufacturing will begin in February, with delivery scheduled for Q2 2025.
This contract follows two multimillion-dollar affordable housing projects in Maine announced in October. CEO Rick Coleman highlighted KBS's strong position in the New England commercial construction market, particularly in multifamily housing, affordable housing, workforce housing, and college dormitories. The company anticipates continued market momentum through 2025, supported by improving interest rates, strong backlog, and positive customer feedback.
Star Equity Holdings (Nasdaq: STRR) has announced a cash dividend of $0.25 per share for holders of its 10% Series A Cumulative Perpetual Preferred Stock. The dividend will be paid on December 10, 2024, with a record date of December 1, 2024. The company operates through two main divisions: Building Solutions, which includes modular building manufacturing, structural wall panel and wood foundation manufacturing, and glue-laminated timber manufacturing; and Investments, which manages real estate assets and investment positions in private and public companies.
Star Equity Holdings (NASDAQ: STRR) reported Q3 2024 financial results showing a 30.9% revenue increase to $13.7 million, driven by acquisitions of Timber Technologies and Big Lake Lumber. Despite revenue growth, the company recorded a net loss of $2.0 million ($0.61 per share) compared to $2.4 million loss in Q3 2023. Building Solutions division saw increased commercial activity with recent contract wins totaling $4.6 million. The company diversified its portfolio by investing in Enservco, marking entry into Energy Services and Transportation & Logistics sectors. Gross profit increased 27.9% to $2.8 million, while adjusted EBITDA showed a loss of $0.3 million.
Star Equity Holdings (Nasdaq: STRR) has rescheduled its third quarter 2024 financial results release for November 19, 2024, before market opening. A conference call is scheduled for 10:00 a.m. ET on the same day to discuss results and management outlook. The company operates through two divisions: Building Solutions, which includes modular building manufacturing, structural wall panel and wood foundation manufacturing, and glue-laminated timber manufacturing; and Investments, which manages real estate assets and investment positions in private and public companies.
Star Equity Holdings (Nasdaq: STRR) has announced it will release its third quarter 2024 financial results on November 13, 2024, before market opens. The company will host a conference call at 10:00 a.m. ET to discuss results and management's outlook. Star Equity operates through two divisions: Building Solutions, which includes modular building manufacturing, structural wall panel and wood foundation manufacturing, and glue-laminated timber manufacturing; and Investments, which manages real estate assets and investment positions in private and public companies.
Star Equity Holdings, Inc. (Nasdaq: STRR) announced that its subsidiary, KBS Builders, Inc., has secured two contracts in Maine totaling $4.6 million. The first contract, worth $3.0 million, involves manufacturing 32 modules for 15 cottages in Northeast Harbor. The second contract, valued at $1.6 million, is for 8 modules to construct two buildings with 16 affordable housing units in Newcastle.
Manufacturing for the Northeast Harbor project began in September, while the Newcastle project is set to start in October. Both are expected to be completed by December, with occupancy planned for Spring 2025. CEO Rick Coleman highlighted KBS' strong position in the New England market and expressed optimism about increased demand for new construction projects following recent interest rate cuts.