Overview

* Melcor Q3 revenue up 21.9% yr/yr, driven by Land division performance

* Net income for Q3 rises significantly, reflecting improved operational efficiency

* Company continues strategic asset sales to strengthen balance sheet

Outlook

* Melcor continues strategic asset sales to strengthen balance sheet and reduce debt

* Company focuses on core Alberta market for future growth

* Melcor has three buildings under construction or awaiting lease-up

Result Drivers

* LAND DIVISION - Significant revenue growth driven by US land sale of 198.40 acres contributing $62.20 mln

* PROPERTIES DIVISION - Revenue decline due to property sales and lower occupancy rates

* STRATEGIC ASSET SALES - Ongoing asset sales to strengthen balance sheet and reduce debt

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$72.54

Rental mln

Revenue

Q3 EPS C$0.46

Q3 Net C$14.09

Income mln

Q3 FFO C$23.40

mln

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)