Q3 2024 Dream Unlimited Corp Earnings Call Transcript
Key Points
- DREAM Unlimited Corp (DRUNF) is on track to end 2024 on a strong note with significant prebuild volume and commitments for additional lot and acre sales.
- The company maintains a solid liquidity position with $257 million in total liquidity and a conservative leverage position of 39%.
- Western Canada development is performing exceptionally well, with high presales for future years and strong demand and margins.
- The income properties segment is growing steadily, with expectations of adding $200 million in income properties annually over the next few years.
- The asset management division has grown to $27 billion in assets under management, with a significant portion generating fees.
- The third quarter saw a pretax loss of $1.9 million, down from pretax earnings of $11.4 million in the previous year, primarily due to timing issues and higher interest costs.
- There was less development and transactional activity across the asset management platform, impacting revenue and margins.
- The asset management division's margin was down relative to the prior year due to development activity and transactional noise.
- The company faces challenges in Toronto with office buildings and land, although they possess excellent assets.
- The uncertainty in the US and fluctuating interest rates present challenges for future planning and capital allocation.
Good morning, ladies and gentlemen. Welcome to the Dream Unlimited Corp third quarter, conference call for Wednesday, November 13th, 2024. During this call, management of Dream Unlimited Corp may make statements containing forward-looking information within the meaning of applicable securities legislation. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties. Many of which are beyond dream, unlimited corpse control that could cause actual results to differ materially from those that are disclosed in or implied by such as forward-looking information. Additional information about these assumptions and risks and uncertainties is contained in Dream unlimited corporate courts filings with securities regulators, including its latest annual information form and MD&A. These filings are also available on Dream Unlimited Corp's website at www.dream.ca.
Later in the presentation, we will have a question-and-answer session to join the question queue. You may press star then one on
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