Reports Q3 revenue $13.32M, consensus $11.88M. Luca Fabbri, President and Chief Executive Officer, commented: “We are pleased to report another strong operating quarter, driven by efficiencies in our core business from the portfolio improvements and cost saving measures that we began in 2023. We have meaningfully increased 2024 earnings guidance at both the top and bottom ends of the ranges based on our improvements in our core business and the completion of $308 million in asset sales and the resulting debt reductions of $189 million and interest savings, the full impact of which will be seen in the coming quarters. These sales, and their related gains of approximately $53 million, have allowed us to, again, demonstrate the strong value embedded in our portfolio, which we believe continues to be meaningfully discounted by the market. With the remaining proceeds, we intend to make further debt reductions, buy back stock, and pursue strategic acquisitions. Additionally, as we did last year, we expect to issue a special dividend to shareholders at year-end, with the amount projected to be between $1.00 and $1.10 per share.”
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