Urbi, Desarrollos Urbanos, S.A.B. de C.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 27, 2023 at 03:50 pm EDT
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Urbi, Desarrollos Urbanos, S.A.B. de C.V. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was MXN 19.31 million compared to MXN 75.09 million a year ago. Net loss was MXN 33.91 million compared to net income of MXN 18.21 million a year ago. Basic loss per share from continuing operations was MXN 2.9 compared to basic earnings per share from continuing operations of MXN 1.6 a year ago. Diluted loss per share from continuing operations was MXN 2.9 compared to diluted earnings per share from continuing operations of MXN 1.6 a year ago.
For the nine months, sales was MXN 78.44 million compared to MXN 183.98 million a year ago. Net loss was MXN 3.8 million compared to net income of MXN 5.96 million a year ago. Basic loss per share from continuing operations was MXN 0.3 compared to basic earnings per share from continuing operations of MXN 0.5 a year ago. Diluted loss per share from continuing operations was MXN 0.3 compared to diluted earnings per share from continuing operations of MXN 0.5 a year ago.
Urbi Desarrollos Urbanos SAB de CV is a Mexico-based company primarily engaged in the homebuilding sector. The Company's activities are divided into three business lines: Real estate development, Real estate construction and Plots. The Real estate development line is responsible for the design, construction and sale of own residential buildings, which aim at low, middle, and high-income families. The Real estate construction line comprises management and construction of residential projects for third parties. The Plots line focuses on the acquisition, subdivision and sale of land. The Company develops housing projects under a range of brand names, including UrbiVilla, UrbiQuinta, UrbiHacienda and UrbiClub. The Company operates through numerous subsidiaries, such as Ingenieria y Obras SA de CV, Obras y Desarrollos Urbi SA de CV and Cyd Desarrollos Urbanos SA de CV.