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Stock impact report

Xinyuan Real Estate +3.9% as Q2 earnings swing from year-ago loss [Seeking Alpha]

Xinyuan Real Estate Co Ltd American Depositary Shares (XIN) 
US:NYSE Investor Relations: ir.xyre.com
Company Research Source: Seeking Alpha
Xinyuan Real Estate (NYSE: XIN )   after posting  Q2 net income of $19.8M  vs. net loss of $9.3M in the year-ago quarter and net income of $18.2M in Q1. Q2 net earnings per ADS of 19 cents compared with a loss of 10 cents in Q2 2018 and net earnings of 33 cents in Q1 2019. Q2 revenue of $609.4M surged 71% Y/Y and rose 30% Q/Q. As of June 30, 2019, total of 177 units of 216 units were sold and closed at its Oosten project in Brooklyn, NY, with total revenue from project reaching $260.1M. Launch of presales for its Bloom on Forty Fifth project in New York City's Hell's Kitchen area is expected to begin at the end of Q4 2019; Target has leased 29K square feet of the project's total 38K square feet of retail/commercial space for a 20-year term. Reaffirms previous 2019 guidance for contract sales increase of ~10% and consolidated net income up 15%-20% Y/Y. Previously: Xinyuan Real Estate reports Q2 results (Aug. 16) See all stocks on the move » Now read: Show less Read more
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