Clipper Realty Inc. (CLPR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, ladies and gentlemen, and welcome to the Clipper Realty Q2 earnings conference call. At this time, all participants are in a listen-only mode, and the floor will be open for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Lawrence Saba, Corporate Controller. Lawrence, the floor is yours. Good afternoon, and thank you for joining us for the second quarter, 2026. Clipper Realty Inc. Earnings Conference Call. Participating with me on today's call are David Bistricer, Co-Chairman of the Board and Chief Executive 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. Thank you for joining us. The forward-looking statements speak only as of the date of this call, August 6, 2026, and the company undertakes no duty to update them. During this call, management may refer to certain non-GAAP financial measures, including adjusted funds from operations, or AFFO, 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, and form 10-Q posted today for reconciliation of these non-GAAP financial measures with the most directly comparable GAAP financial measures. With that, I will now turn the call over to our co-chairman and CEO, David Bistricer. Thank you, Lawrence. Good afternoon and welcome to the second quarter of 2026 in the School for Clipper Realty. I will provide an update on our business performance, some new developments, after which JJ will discuss property...