Clipper Realty Inc. (CLPR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Clipper Realty Q1 Earnings Call. At this time, all participants have been placed on the listen-only mode, and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Lawrence Saba. Lawrence, the floor is yours. Good afternoon, and thank you for joining us for the first quarter 2025 Clipper Realty Inc. Earnings Conference Call. Participating with me on today's call are David Bissiter, Co-Chairman of the Board and Chief Executive Officer, JJ Bissiter, Chief Operating Officer, and Larry Kleider, Chief Financial Officer. Please be aware that statements made during the call that are not historical may be deemed forward-looking statements and actual results may differ materially from those indicated by such forward-looking statements. These statements are subject to numerous risks and uncertainties. including those disclosed in the company's 2024 annual report on Form 10-K and the first quarter 2025 quarterly report on Form 10-Q, which is accessible at www.sec.gov and on our website. As a reminder, the forward-looking statements speak only as of the date of this call, May 12, 2025, and the company undertakes no duty to update them. During the call, management may refer to certain non-GAAP financial measures, including Adjusted Funds from Operations, or ASFO, Adjusted Earnings Before Interest Accident Depreciation Amortization, or Adjusted EBITDA, and Net Operating Income, or AOI. Please see our press release, supplemental financial information, and Form 10-K posted last Friday for our reconciliation of those non-GAAP financial measures, posted earlier today for our reconciliation of those non-GAAP financial measures with the most directly comparable GAAP measures. With that, I will now turn t...