Sachem Capital reports Q2 EPS 2c, consensus 2c

Reports Q2 revenue $10.8M, consensus $11.3M. John Villano, CPA, Sachem Capital’s (SACH) Chief Executive Officer commented, “In the second quarter, we remained focused on portfolio management and capital preservation with additional decisive steps to strengthen our financial position. Total assets increased from year-end, as liquidity remained strong, supported by a stable cash position and the successful execution of a Senior Secured Notes private placement offering. While elevated nonperforming loans have impacted year-over-year revenue, we are encouraged by signs of stable credit reserves, net new loan deployment and continuing income from LLC investments. We remain committed to prudent capital allocation and disciplined portfolio management as we navigate the current environment, positioning us to capitalize on high-quality lending opportunities as markets stabilize enabling us to drive long-term shareholder value.”