Sachem Capital reports FY24 EPS (93c) vs 27c last year

Reports FY24 revenue $57.5M, consensus $61.21M. John Villano, CPA, Sachem Capital’s (SACH) Chief Executive Officer commented, “We remain focused on effectively managing our loan portfolio and protecting our capital as we continue our efforts to navigate challenging financial and real estate markets. These efforts include managing our debt load and the associated carrying costs and selling non-performing loans, which should reduce the allowances for credit losses that have been a drag on earnings. We continue to evaluate attractive opportunities to invest capital while maintaining a disciplined capital allocation approach. With our experienced team, we remain confident that growth will return as we leverage strong industry relationships and work to increase shareholder value.”