$WHLR
Wheeler Real Estate Investment Trust, Inc.

2024 Q3 Form 10-Q Financial Statement

#000152754124000152 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $24.79M $26.32M $24.84M
YoY Change -1.63% 5.95% 60.48%
Cost Of Revenue $8.444M $8.664M $8.342M
YoY Change -3.72% 3.86% 76.29%
Gross Profit $16.35M $17.65M $16.50M
YoY Change -0.5% 7.0% 53.51%
Gross Profit Margin 65.94% 67.08% 66.42%
Selling, General & Admin $2.101M $2.641M $2.818M
YoY Change -15.28% -6.28% 68.44%
% of Gross Profit 12.85% 14.96% 17.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.700M $4.600M $10.24M
YoY Change -31.59% -55.1% 182.59%
% of Gross Profit 28.75% 26.06% 62.09%
Operating Expenses $8.342M $9.014M $10.12M
YoY Change -10.78% -10.92% 91.0%
Operating Profit $13.89M $11.52M $6.379M
YoY Change 49.61% 80.62% 17.07%
Interest Expense -$46.43M -$13.39M $10.18M
YoY Change -721.58% -231.56% -235.96%
% of Operating Profit -334.14% -116.23% 159.57%
Other Income/Expense, Net -$257.0K -$487.0K -$35.00K
YoY Change -40.23% 1291.43% -101.68%
Pretax Income -$30.63M -$2.357M -$1.248M
YoY Change 169.5% 88.86% 2254.72%
Income Tax $0.00 $1.000K $46.00K
% Of Pretax Income
Net Earnings -$33.32M -$5.056M -$3.970M
YoY Change 136.97% 27.36% 7534.62%
Net Earnings / Revenue -134.4% -19.21% -15.98%
Basic Earnings Per Share -$91.99 -$13.74 -$0.64
Diluted Earnings Per Share -$91.99 -$13.74 -$0.64
COMMON SHARES
Basic Shares Outstanding 566.8K shares 68.02M shares 9.800M shares
Diluted Shares Outstanding 387.8K shares 566.9K shares 9.800M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.07M $19.61M $28.74M
YoY Change 45.94% -31.76% 16.78%
Cash & Equivalents $37.07M $19.61M $28.74M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $49.56M $34.08M $39.78M
YoY Change 33.58% -14.34% 20.36%
LONG-TERM ASSETS
Property, Plant & Equipment $543.6M $551.3M $573.4M
YoY Change -4.91% -3.86% 45.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.96M $11.37M $3.031M
YoY Change 81.82% 275.22%
Other Assets $54.02M $57.22M $32.30M
YoY Change 58.87% 77.15% -12.24%
Total Long-Term Assets $623.6M $636.2M $633.6M
YoY Change -1.76% 0.42% 45.92%
TOTAL ASSETS
Total Short-Term Assets $49.56M $34.08M $39.78M
Total Long-Term Assets $623.6M $636.2M $633.6M
Total Assets $673.2M $670.3M $673.4M
YoY Change 0.19% -0.45% 44.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.72M $21.11M $17.21M
YoY Change 13.23% 22.69% 40.98%
Accrued Expenses $10.18M $10.23M $16.38M
YoY Change -2.12% -37.55% 26.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.90M $31.34M $33.59M
YoY Change 7.67% -6.68% 33.49%
LONG-TERM LIABILITIES
Long-Term Debt $486.2M $481.2M $469.3M
YoY Change 0.48% 2.55% 38.57%
Other Long-Term Liabilities $65.86M $27.76M $23.01M
YoY Change 103.29% 20.65% 139.56%
Total Long-Term Liabilities $552.1M $509.0M $492.3M
YoY Change 6.93% 3.39% 41.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.90M $31.34M $33.59M
Total Long-Term Liabilities $552.1M $509.0M $492.3M
Total Liabilities $583.0M $540.3M $525.9M
YoY Change 6.98% 2.75% 40.33%
SHAREHOLDERS EQUITY
Retained Earnings -$379.1M -$343.4M -$307.2M
YoY Change 12.41% 11.78%
Common Stock $6.000K $5.000K $98.00K
YoY Change -40.0% -94.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$67.95M -$36.39M -$26.59M
YoY Change
Total Liabilities & Shareholders Equity $673.2M $670.3M $673.4M
YoY Change 0.19% -0.45% 44.11%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$33.32M -$5.056M -$3.970M
YoY Change 136.97% 27.36% 7534.62%
Depreciation, Depletion And Amortization $4.700M $4.600M $10.24M
YoY Change -31.59% -55.1% 182.59%
Cash From Operating Activities $7.476M $7.878M $7.820M
YoY Change 112.39% 0.74% 18.9%
INVESTING ACTIVITIES
Capital Expenditures $6.761M $7.763M $2.881M
YoY Change -23.52% 169.46% -245.65%
Acquisitions
YoY Change
Other Investing Activities $15.06M $5.162M -$3.000M
YoY Change -2134.86% -272.07%
Cash From Investing Activities $8.297M -$2.601M -$5.881M
YoY Change -186.61% -55.77% 197.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.518M -2.027M -2.915M
YoY Change -166.79% -30.46% -156.77%
NET CHANGE
Cash From Operating Activities 7.476M 7.878M 7.820M
Cash From Investing Activities 8.297M -2.601M -5.881M
Cash From Financing Activities -2.518M -2.027M -2.915M
Net Change In Cash 13.26M 3.250M -976.0K
YoY Change -678.82% -432.99% -110.03%
FREE CASH FLOW
Cash From Operating Activities $7.476M $7.878M $7.820M
Capital Expenditures $6.761M $7.763M $2.881M
Free Cash Flow $715.0K $115.0K $4.939M
YoY Change -113.44% -97.67% -42.27%

Facts In Submission

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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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39807000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55865000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41764000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51145000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19609000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28735000 usd
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
22155000 usd
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
22410000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41764000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51145000 usd
CY2024Q2 whlr Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.9941
CY2024Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
74 center
CY2024Q2 whlr Numberof Real Estate Properties Undeveloped
NumberofRealEstatePropertiesUndeveloped
3 property
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
44000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
292000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4638000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
101000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
407000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
556000 usd
us-gaap Interest Paid Net
InterestPaidNet
12912000 usd
us-gaap Interest Paid Net
InterestPaidNet
12700000 usd
CY2024Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
500000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1200000 usd
CY2023Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
600000 usd
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
3000000.0 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has reclassified certain prior period amounts in the accompanying condensed consolidated financial statements in order to be consistent with the current period presentation. These reclassifications had no effect on net loss.</span></div>
CY2024Q2 us-gaap Depreciation
Depreciation
4600000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
4500000 usd
us-gaap Depreciation
Depreciation
9300000 usd
us-gaap Depreciation
Depreciation
9000000 usd
CY2024Q2 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
6897000 usd
CY2023Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
7461000 usd
CY2024Q2 whlr Tenant Relationships
TenantRelationships
205000 usd
CY2023Q4 whlr Tenant Relationships
TenantRelationships
280000 usd
CY2024Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
3336000 usd
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
2224000 usd
CY2024Q2 us-gaap Other Assets
OtherAssets
75000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
3000 usd
CY2024Q2 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
24854000 usd
CY2023Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
28028000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
69300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
69900000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1700000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2800000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3700000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5700000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
499193000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
495572000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
17954000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
17998000 usd
CY2024Q2 us-gaap Secured Debt
SecuredDebt
481239000 usd
CY2023Q4 us-gaap Secured Debt
SecuredDebt
477574000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
672000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
6069000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6575000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2958000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
14194000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
24434000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
444291000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
499193000 usd
whlr Interest Expense Adjusted For Vwap Discount
InterestExpenseAdjustedForVWAPDiscount
948000 usd
us-gaap Interest And Debt Expense
InterestAndDebtExpense
2031000 usd
whlr Interest Expense Adjusted For Vwap Discount
InterestExpenseAdjustedForVWAPDiscount
851000 usd
us-gaap Interest And Debt Expense
InterestAndDebtExpense
2006000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3653000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
7111000 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
14128000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3653000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P36Y
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P34Y
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
200000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
300000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
400000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
600000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
700000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
900000 usd
CY2024Q2 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-860000 usd
CY2023Q2 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-1237000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-1773000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-2633000 usd
CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
356000 usd
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
373000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
726000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
719000 usd
CY2024Q2 whlr Revenues Gross
RevenuesGross
26304000 usd
CY2023Q2 whlr Revenues Gross
RevenuesGross
24997000 usd
whlr Revenues Gross
RevenuesGross
52126000 usd
whlr Revenues Gross
RevenuesGross
51088000 usd
CY2024Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-13000 usd
CY2023Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
157000 usd
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-63000 usd
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
182000 usd
CY2024Q2 us-gaap Revenues
Revenues
26317000 usd
CY2023Q2 us-gaap Revenues
Revenues
24840000 usd
us-gaap Revenues
Revenues
52189000 usd
us-gaap Revenues
Revenues
50906000 usd
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
68023718 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2834237 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2834237 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
566814 shares
us-gaap Dividends Common Stock
DividendsCommonStock
0 usd
us-gaap Dividends Common Stock
DividendsCommonStock
0 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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