Clipper Realty Inc. (CLPR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to the Clipper Realty earnings call. At this time, all participants have been placed on a listen-only mode. The floor will be open for questions and comments following the presentation. It is now my pleasure to turn the floor over to your host, Lauren Saba, Corporate Controller at Clipper Realty. Sir, the floor is yours. Good afternoon, and thank you for joining us for the first quarter 2026 Clipper Realty Inc. earnings conference call. Participating with me on today's call are David Bichester, co-chairman of the board and chief executive officer, JJ Bichester, chief operating officer, and Larry Kreider, 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 2025 annual report on Form 10-K and and 2026 first quarter report on Form 10-Q just filed today, which is accessible at www.sdc.gov and on our website. As a reminder, the forward-looking statements speak only as of the date of this call, May 14th, 2026, and the company undertakes no duty to update them. During this call, management may refer to certain non-GAAP financial measures, including Adjusted Fund from Operations, or ASFO, adjusted earnings before interest, taxes, depreciation, and amortization, or adjusted EBITDA, and net operating income, or NOI. Please see our press release, Supplemental Financial Information, in Form 10-Q, posted today for a reconciliation of these non-GAAP financial measures with most directly comparable GAAP financial measures. With that, I will now turn the call over to our Corp C...