Business
The RMR Group Inc. Announces Fourth Quarter Fiscal 2022 Results
Net Income of $27.3 Million, or $0.73 Per Diluted Share Adjusted Net Income of $9.4 Million, or $0.57 Per Diluted Share Adjusted EBITDA of $29.5 million
About this update from The Rmr Group Inc.
[{"type":"text","content":"\nNet Income of $27.3 Million, or $0.73 Per Diluted Share\n\nAdjusted Net Income of $9.4 Million, or $0.57 Per Diluted Share\n\nAdjusted EBITDA of $29.5 million\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nThe RMR Group Inc. (Nasdaq: RMR) today announced its financial results for the fiscal quarter ended September 30, 2022.\n\nAdam Portnoy, President and Chief Executive Officer, made the following statement regarding the fourth quarter fiscal 2022 results:\n\n“Despite ongoing macroeconomic headwinds and market volatility, management and advisory services revenues this quarter were $51.7 million, demonstrating our significant fee stability. Revenues this quarter also reflect continued growth in construction management fees and increases in fees from our Managed Operating Companies. These growing revenues have positively impacted our operating results highlighted by Adjusted EBITDA of $29.5 million, Net Income Margin of 52.8% and Adjusted EBITDA Margin of 54.6%.\n\nFor the fiscal year, we generated $31.0 million of excess capital after the consideration of dividends and our tax obligations, bringing our cash balance to approximately $189 million at year end. We continue to have no debt, our dividend remains well covered and we remain well positioned to pursue a range of capital allocation strategies, including opportunistically taking advantage of market dislocation to promote long term growth.”\n\nFourth Quarter Fiscal 2022 Highlights:\n\n\nThe RMR Group LLC’s assets under management, or AUM, and management and advisory services revenue by source are as follows (dollars in thousands):\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nTotal Management\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nand Advisory\n\n\n\n\n\n\n \n\n\n\n \n\n\n\nAUM\n\n\n\n \n\n\n\nServices Revenues (4)\n\n\n\n\n\n\nAs of or for the Three Months Ended September 30, 2022\n\n\n\n\n\n\nManaged Public Real Estate Capital (1)\n\n\n\n \n\n\n\n$\n\n\n\n30,894,912\n\n\n\n\n \n\n\n\n82.8\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n38,115\n\n\n\n\n \n\n\n\n73.7\n\n\n\n%\n\n\n\n\n\n\nManaged Private Real Estate Capital (2)\n\n\n\n \n\n\n\n \n\n\n\n3,862,102\n\n\n\n \n\n\n\n \n\n\n\n10.4\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n5,247\n\n\n\n \n\n\n\n \n\n\n\n10.1\n\n\n\n%\n\n\n\n\n\n\nManaged Operating Companies (3)\n\n\n\n \n\n\n\n \n\n\n\n2,554,325\n\n\n\n \n\n\n\n \n\n\n\n6.8\n\n\n\n%\...