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Jun 30, 2020
RMR Q3 2020 Earnings Report
Announced third quarter fiscal 2020 results.
Key Takeaways
The RMR Group Inc. reported net income attributable to the company of $0.41 per diluted share and adjusted net income attributable to the company of $0.38 per diluted share for the third quarter of fiscal year 2020. The company had $393.7 million of cash and no debt as of June 30, 2020.
Net income was $15.4 million.
Adjusted EBITDA was $19.6 million.
Adjusted EBITDA Margin was 47.1%.
Cash and cash equivalents totaled $393.7 million with no debt.
Forward Guidance
The RMR Group Inc. is optimistic about rent collections, strategic opportunities and future growth, but faces risks including the impact and duration of the COVID-19 pandemic.
Positive Outlook
- Fee paying assets under management increased sequentially.
- Management services revenues increased each successive month in the quarter.
- Assisted several Client Companies in raising more than $2 billion of capital.
- Overall high rent collection levels.
- Waning tenant rent relief requests across the retail, office and industrial assets.
Challenges Ahead
- Results reflect the adverse impacts of the pandemic on Managed Equity REITs’ share prices.
- Business is subject to various risks, including risks outside of its control.
- The impact and duration of the COVID-19 pandemic is not known.
- Tenant rent collections may decline and tenant rent relief requests may increase in the future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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