Invesque Inc. Reports Q3 2024 Earnings and Asset Sales

Invesque (OTC) ( (MHIVF) ) has released its Q3 earnings. Here is a breakdown of the information Invesque (OTC) presented to its investors.

Invesque Inc. is a North American healthcare real estate company focusing on investments in seniors housing communities and healthcare properties, capitalizing on the aging demographic trend in the region. In its third-quarter 2024 earnings report, Invesque announced significant asset sales and debt reduction activities, highlighting its ongoing efforts to streamline operations and improve its balance sheet. The company reported the sale of a skilled nursing facility in Illinois and seven senior housing assets, utilizing proceeds to reduce debt and maintain liquidity. Additionally, Invesque is in the process of selling its interest in twenty seniors housing assets, with plans to conclude the transaction in early 2025, subject to customary conditions. Financially, the company reported funds from operations (FFO) of $0.02 per share for the third quarter, indicating a decrease from the previous year, and adjusted funds from operations (AFFO) of $0.02 per share, reflecting ongoing challenges in the market. Despite a decrease in revenue and net income, Invesque’s strategic asset dispositions have significantly contributed to lowering its leverage, which is expected to drop below 50% in the coming months. Looking forward, Invesque remains committed to reducing debt and improving financial stability, with management actively pursuing further corporate-level transactions to achieve these goals.