Wilmington Capital reported lower net income in Q3 2024 compared to same period in 2023.

From GlobeNewswire: 2024-11-05 16:09:00

Wilmington Capital Management Inc. reported net income of $0.05 million for the three months ended September 30, 2024, and $1.2 million for the nine months ended September 30, 2024, compared to $2.4 million and $2.5 million for the same periods in 2023, respectively. The Corporation has been monetizing investments to simplify its business, return capital to shareholders, and pursue transactions that create value. Shareholders approved the disposition of assets, with recent sales generating proceeds of $4.7 million. The Corporation expects to have approximately $35 million in cash after completing monetization.

The Corporation’s financial results are available for review, with consolidated statements of income showing net income of $57 thousand for the three months ended September 30, 2024, and $1.2 million for the nine months ended September 30, 2024. The balance sheet reflects assets of $38.9 million and liabilities of $1.8 million as of September 30, 2024. Forward-looking statements caution investors about potential risks and uncertainties that could impact future results, emphasizing the need for careful consideration of factors beyond the Corporation’s control.



Read more at GlobeNewswire: Wilmington Announces 2024 Third Quarter Results