J.W. Mays Reports Q2 Fiscal 2025 Net Loss of $157,681 Despite Revenue Growth

J.W. Mays, Inc. reported its financial results for the second quarter of fiscal year 2025, revealing a net loss of $157,681, or $0.08 per share, compared to a net loss of $98,059, or $0.04 per share, in the same period last year. The company's total revenues increased to $5.64 million from $5.41 million, primarily driven by higher rental income from existing tenants and new leases. However, this growth was partially offset by increased real estate operating expenses, which rose to $4.13 million from $3.83 million, largely due to higher real estate taxes, maintenance, and insurance costs.

For the six months ending January 31, 2025, J.W. Mays reported a net loss of $131,024, or $0.07 per share, a significant improvement from a net loss of $290,603, or $0.14 per share, in the prior year. Total revenues for this period increased to $11.18 million from $10.74 million, again reflecting the impact of increased rental income. The company also noted a decrease in administrative and general expenses, which fell to $2.54 million from $2.74 million, attributed to reduced executive payroll costs.

In terms of operational developments, J.W. Mays has made several strategic leasing decisions. Notably, a tenant extended its lease at the Jowein building in Brooklyn through June 2025, and new leases were signed at various properties, including a ten-year lease for office space in Jamaica, New York. The company also expanded a lease in Circleville, Ohio, increasing the leased area significantly. However, the company anticipates a loss of approximately $120,000 in annual rent due to a lease termination at the 9 Bond Street building.

The company’s balance sheet as of January 31, 2025, showed total assets of $88.35 million, a decrease from $89.53 million as of July 31, 2024. Total liabilities also decreased to $35.58 million from $36.63 million, primarily due to a reduction in mortgages payable. Shareholders' equity stood at $52.77 million, down slightly from $52.90 million. The company reported cash and cash equivalents of $1.49 million, an increase from $1.24 million, indicating improved liquidity.

Looking ahead, J.W. Mays anticipates continued challenges in the commercial real estate market, including fluctuating interest rates and economic conditions. The company plans to explore additional financing options to support its operations and capital expenditures, which are projected to reach $1.5 million over the next twelve months. Management remains focused on increasing cash flows from operations and securing new tenants to enhance revenue stability.