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 reported a 19% increase in Q2 2022 revenues to $30.7 million, with a 306% gross profit spike to $6.1 million. The Construction division saw a remarkable 54% revenue surge, contributing significantly to overall growth. Despite a net loss of $1.6 million for Q2, non-GAAP adjusted net income rose to $0.5 million. Cash and equivalents improved to $13.7 million, bolstered by a January equity offering. The company focuses on high-return investments and new acquisitions, aiming for gross margins over 20% in Construction.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) will announce its second quarter financial results for the period ended June 30, 2022, on August 12, 2022, before the market opens. A conference call is scheduled at 10:00 a.m. ET to discuss these results and management's outlook. Star Equity operates in three divisions: Healthcare, Construction, and Investments, focusing on medical imaging products and modular housing solutions. The company emphasizes a diversified portfolio and future growth strategies, with a focus on enhancing their healthcare and construction sectors.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced a $4.2 million contract for its KBS Builders, Inc. to manufacture 60 modules for eight new multi-family buildings on Nantucket, addressing the island's affordable housing challenges. Construction has started on two buildings with the remaining expected to continue into fall 2022. KBS is gaining market share in workforce housing across the Northeast, reflecting strong demand. The project represents KBS's second large-scale project won in 2022, with a backlog extending into November.
Star Equity Holdings (Nasdaq: STRR; STRRP) announced its participation in the LD Micro Invitational Conference, scheduled for June 8, 2022, at 7:30 am PT. The management will present live online, and investors can access the presentation via the provided link. Direct interaction with management is encouraged through pre-scheduled one-on-one meetings. Star Equity operates across three divisions: Healthcare, Construction, and Investments, focusing on diagnostic imaging, modular housing, and asset management.
Star Equity Holdings reported a 12.1% increase in Q1 2022 revenues to $25.0 million and a significant 51.5% rise in gross profit to $4.7 million, driven mainly by the Construction division, which posted a 191.5% profit increase. Despite these gains, the company faced a net loss of $3.7 million or $0.29 per share. Cash and equivalents increased to $15.0 million, with reduced net debt of ($1.7 million). The successful completion of a $14.3 million public offering positions the company for growth.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced a cash dividend of $0.25 per share for its 10% Series A Cumulative Perpetual Preferred Stock. The record date is June 1, 2022, while the payment date is set for June 10, 2022. The company's diverse operations span three key divisions: Healthcare, Construction, and Investments, focusing on medical imaging products, modular housing units, and real estate management. This dividend declaration reflects the company's commitment to delivering income to preferred stockholders.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) will release its Q1 2022 financial results on May 23, 2022, before market opening. A conference call is scheduled for the same day at 10:00 a.m. ET to discuss the results and management's outlook. Star Equity operates in three divisions: Healthcare, providing diagnostic services and imaging products; Construction, manufacturing modular housing; and Investments, managing real estate assets. An archived replay of the call will be available shortly after.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced a historic $9 million contract for its KBS Builders, Inc. to manufacture 72 modules for new dormitories at a New England college. This project marks KBS's largest contract and its entry into the student housing market, with production set to start in Q2 2022. Executive Chairman Jeff Eberwein expressed enthusiasm, highlighting the deal's potential to boost KBS's growth and capitalize on increasing acceptance of modular manufacturing.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) appointed Richard K. Coleman, Jr. as CEO, effective April 1, 2022. Coleman, who previously served as COO, brings over 30 years of executive leadership experience across various industries. His appointment is expected to drive business growth and operational efficiency. The company, which operates in Healthcare, Construction, and Investments sectors, is focused on generating shareholder value amidst expanding opportunities.
Star Equity Holdings, scheduled to participate in a fireside chat on March 30, 2022, at the Maxim Group Virtual Growth Conference, is a diversified holding company with three divisions: Healthcare, Construction, and Investments.
Executive Chairman Jeff Eberwein will represent the Company at 11:00 am ET. The Healthcare division focuses on diagnostic medical imaging products and mobile services, while Construction manufactures modular housing units. Interested investors can schedule meetings with management via email.