NexPoint Residential Trust (NXRT) Q4 FY2023 earnings: revenue $69 million, down 0.7% on the year

NexPoint Residential Trust, Inc. (NXRT) reported revenue of $69 million for Q4 FY2023, the quarter ended 31 December 2023, down 0.7% on the same quarter a year earlier. Net income was $18 million, up 384.6% on the year, and diluted earnings per share $0.70. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$69 milliondown 0.7%

Net income$18 millionup 384.6%

Diluted EPS$0.70

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	68.9	69.8	n/a	n/a
Operating income	36.5	53.5	n/a	n/a
Operating margin	53.1%	76.5%	n/a
Interest expense	18.3	17.6	n/a	n/a
Net income	18.4	33.7	n/a	n/a
Net margin	26.6%	48.3%	n/a
Diluted EPS	$0.70	$1.28	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	14.8	27.8	n/a	n/a
Capital expenditure	14.5	17.4	n/a	n/a
Free cash flow	0.3	10.5	n/a	n/a
Free cash flow margin	0.5%	15.0%	n/a
Cash from investing	34.0	54.3	n/a	n/a
Cash from financing	-53.3	-75.3	n/a	n/a
Depreciation and amortisation	24.3	23.8	n/a	n/a
Share-based compensation	2.3	2.5	n/a	n/a
Dividends paid	11.9	10.8	n/a	n/a
Dividend per share	n/a	$0.42	n/a	n/a
Diluted shares, weighted	26m	26m	n/a	n/a
Shares outstanding at period end	26m	26m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	495	514	n/a	n/a
Redeemable equity	5.2	5.1	n/a	n/a
Debt	1,575	1,616	n/a	n/a
Other liabilities	32.5	44.7	n/a	n/a
Total liabilities and equity	2,108	2,180	n/a	n/a
Cash and equivalents	12.4	7.5	n/a	n/a
Other assets	2,095	2,172	n/a	n/a
Total assets	2,108	2,180	n/a	n/a

Questions

What was NexPoint Residential Trust's revenue in Q4 FY2023?

NexPoint Residential Trust (NXRT) reported revenue of $69 million for Q4 FY2023, the quarter ended 31 December 2023, down 0.7% on the same quarter a year earlier.

How much did NexPoint Residential Trust earn in Q4 FY2023?

Net income for Q4 FY2023 was $18 million, up 384.6% on the year, and diluted earnings per share $0.70.

When did NexPoint Residential Trust report Q4 FY2023 results?

NexPoint Residential Trust filed its 10-K for the year that ended with the quarter on 27 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	69.8	68.9	67.6	64.2	64.1	63.8	63.2	63.1	62.8	62.1	63.5	64.6
Operating income	53.5	36.5	41.0	25.5	5.6	11.5	7.4	7.9	7.4	5.2	8.5	7.1
Operating margin	77%	53%	61%	40%	9%	18%	12%	13%	12%	8%	13%	11%
Interest expense	17.6	18.3	14.4	14.0	14.6	15.5	14.4	15.2	15.5	15.7	15.4	15.8
Net income	33.7	18.4	26.3	10.6	-8.9	-26.9	-6.9	-7.0	-7.8	-10.3	-6.8	-8.6
Net margin	48%	27%	39%	16%	-14%	-42%	-11%	-11%	-12%	-17%	-11%	-13%
Diluted EPS	$1.28	$0.70	$1.00	$0.40	-$0.35	-$1.06	-$0.27	-$0.28	-$0.31	-$0.41	-$0.27	-$0.34
Operating cash flow	27.8	14.8	19.7	19.7	27.8	6.4	28.3	19.9	29.3	6.1	23.3	24.4
Capital expenditure	17.4	14.5	9.6	8.7	10.1	8.9	8.9	9.8	13.0	10.9	7.6	9.1
Free cash flow	10.5	0.3	10.1	10.9	17.7	-2.5	19.4	10.1	16.3	-4.8	15.7	15.4
Buybacks	n/a	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a
Dividends paid	10.8	11.9	12.7	11.9	11.7	13.0	14.0	13.1	12.9	13.4	14.5	13.7
Shares outstanding	26m	26m	26m	25m	25m	25m	26m	25m	25m	25m	25m	26m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 27 February 2024, accession 0000950170-24-021143: the filing on EDGAR. All of NexPoint Residential Trust, Inc.'s filings: EDGAR company page.

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