J.W. Mays Reports $334,027 Net Loss and Revenue Decline for Quarter Ended October 31, 2025

J.W. Mays, Inc. reported a net loss of $334,027, or $0.17 per share, for the three months ended October 31, 2025, a significant decline from the net income of $26,657, or $0.01 per share, recorded in the same period last year. The company's total revenues decreased to $5.25 million from $5.54 million, primarily due to tenant losses and reduced rental income, despite the offset from several new leases. Real estate operating expenses rose to $4.08 million, up from $3.75 million, driven by increased real estate taxes, insurance, maintenance costs, and a loss on fixed asset disposal.

In terms of operational metrics, J.W. Mays experienced a decline in customer counts and rental income, which contributed to the overall revenue drop. The company reported a decrease in rental income from $5.54 million in the prior year to $5.25 million, reflecting challenges in tenant retention and the impact of rent concessions granted to some tenants. Administrative expenses decreased slightly to $1.19 million from $1.29 million, mainly due to lower legal and professional fees, while depreciation expenses increased to $472,262 from $444,066, attributed to tenant improvements.

Strategically, the company has made several notable moves, including the exercise of a lease extension for its Jamaica Avenue property, which will now run through May 31, 2040. Additionally, J.W. Mays successfully leased 20,000 square feet of retail space in Massapequa, New York, and 5,500 square feet in Brooklyn, New York, indicating ongoing efforts to enhance its leasing portfolio. The company also extended leases for existing tenants, which may help stabilize rental income in the near term.

As of October 31, 2025, J.W. Mays reported total assets of $88.71 million, a slight increase from $88.05 million at the end of the previous fiscal period. The company’s cash and cash equivalents rose significantly to $2.19 million from $748,597, bolstered by improved cash flows from operating activities, which totaled $1.92 million compared to $1.80 million in the prior year. However, total liabilities also increased to $36.28 million from $35.29 million, primarily due to rising operating lease liabilities.

Looking ahead, J.W. Mays anticipates incurring approximately $1.9 million in capital expenditures over the next twelve months. The company remains focused on enhancing its operational efficiency and tenant retention strategies while navigating the challenges posed by the current economic environment. Management has expressed confidence in the company’s ability to meet its obligations, although it acknowledges the potential need for additional financing to support future growth initiatives.