Clipper Realty Inc. (CLPR) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Clipper Realty Q3 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, Lawrence Sava. Sir, the floor is yours. Thank you. Good afternoon and thank you for joining us for the third quarter 2025 Clipper Realty Inc. Earnings Conference Vault. Participating with me on today's call are David Bichester, our 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 2024 annual report on Form 10-K, and the third quarter 2025 quarterly report on Form 10-Q, which will be accessible on www.sec.gov and on our website. As a reminder, the forward-looking statements speak only as of the date of this call, November 13th, 2025, 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 that will be posted for reconciliation on 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-ch...