Day: October 27, 2023

Company Highlights:Diversified, annuity-based operating platform with a multifamily focus that has continued to generate strong distributable earnings and dividendsGAAP net income of $0.41 per diluted common share Distributable earnings1 of $0.55 per diluted common share, well in excess of our current dividend, representing a 78% payout ratio Declares cash dividend on common stock of $0.43 per share representing an annualized dividend of $1.72 per share Strong liquidity position with ~$1 billion in cash and liquidity and ~$500 million of restricted cash in replenishable CLO vehicles with a weighted average cost of 1.70% over benchmark rates2 Agency loan originations of $1.15 billion and a servicing portfolio of ~$29.94 billion, up 2% Structured loan originations of $240.2 million and a portfolio of ~$13.12 billionUNIONDALE, N.Y.,...

ATLANTA, Oct. 27, 2023 (GLOBE NEWSWIRE) — Cumulus Media Inc. (NASDAQ: CMLS) (the “Company,” “Cumulus Media,” “we,” “us,” or “our”) today announced operating results for the three and nine months ended September 30, 2023. Mary G. Berner, President and Chief Executive Officer of Cumulus Media, said, “Third quarter revenue and Adjusted EBITDA finished in line with expectations with results reflecting the continued dichotomy between local and national business lines. Despite the challenging environment, we maximized performance by continuing to focus on areas we can control, including growing each of our digital businesses, reducing costs, and improving our balance sheet through non-core asset sales and debt reduction. These actions have further improved the Company’s revenue...

SALISBURY, Md., Oct. 27, 2023 (GLOBE NEWSWIRE) — Partners Bancorp (NASDAQ: PTRS) (the “Company”), the parent company of The Bank of Delmarva (“Delmarva”), Seaford, Delaware, and Virginia Partners Bank (“Virginia Partners”), Fredericksburg, Virginia, reported net income attributable to the Company of $4.5 million, or $0.25 per diluted share, for the three months ended September 30, 2023, a $429 thousand or 10.4% increase when compared to net income attributable to the Company of $4.1 million, or $0.23 per diluted share, for the same period in 2022. For the nine months ended September 30, 2023, the Company reported net income attributable to the Company of $11.6 million, or $0.65 per diluted share, a $2.2 million or 23.8% increase when compared to net income attributable to the Company of $9.4 million, or $0.52 per diluted share,...

JOHNS CREEK, Ga., Oct. 27, 2023 (GLOBE NEWSWIRE) — Saia, Inc. (Nasdaq: SAIA), a leading transportation provider offering national less-than-truckload (LTL), non-asset truckload, expedited and logistics services, today reported third quarter 2023 financial results. Diluted earnings per share for the quarter were $3.67 compared to $3.67 in the third quarter of 2022.  Highlights from the third quarter operating results were as follows: Third Quarter 2023 Compared to Third Quarter 2022 ResultsRevenue was $775.1 million, a 6.2% increase Operating income was $128.4 million, a 0.1% increase Operating ratio of 83.4% compared to 82.4% LTL shipments per workday increased 12.2% LTL tonnage per workday increased 6.7% LTL revenue per hundredweight, excluding fuel surcharge revenue increased 8.4% LTL revenue per shipment, excluding fuel surcharge...

Third Quarter 2023 HighlightsNet sales increase 10.5% to record $1,033 million Operating income margin of 16.6%; Record adjusted operating income margin of 17.7% Record EPS of $2.22; Record adjusted EPS of $2.40 Cash flows from operations increase 71% to record $223 million with 141% cash conversion(1) Returned $82 million to shareholders through dividends and share repurchasesCLEVELAND, Oct. 27, 2023 (GLOBE NEWSWIRE) — Lincoln Electric Holdings, Inc. (the “Company”) (Nasdaq: LECO) today reported third quarter 2023 net income of $129.3 million, or diluted earnings per share (EPS) of $2.22, which includes special item after-tax net charges of $10.1 million, or $0.18 EPS. This compares with prior year period net income of $109.2 million, or $1.87 EPS, which included special item after-tax net charges of $10.3 million. Excluding...