Clipper Realty Inc. (CLPR) Q3 2024 Earnings Call Transcript

Clipper Realty Inc. (NYSE:CLPR) Q3 2024 Earnings Conference Call October 31, 2024 5:00 PM ET

Company Participants

Lawrence Sava - Corporate Controller
Larry Kreider - CFO
JJ Bistricer - Chief Operating Officer

Conference Call Participants

Buck Horne - Raymond James

Operator

Good day, and welcome to the Clipper Realty Quarterly Earnings Call. At this time, all participants have been placed on a listen-only mode and the floor will be open for questions and comment after the presentation.

It is now my pleasure to turn the floor over to your host, Lawrence Sava, Corporate Controller. Sir, the floor is yours.

Lawrence Sava

Good afternoon and thank you for joining us for the third quarter 2024 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; JJ Bistricer, 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 2023 Annual Report on Form 10-K, which is accessible at www.sec.gov and on our website. As a reminder, the forward-looking statements speak only as of the date of this call, October 31, 2024, 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 a reconciliation of those non-GAAP financial measures with the most directly comparable GAAP financial measures.