Comstock Holding Companies (CHCI) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was $17.857M (+34.1% YoY), net income $0.588M, and Adjusted EBITDA $2.259M (+112%); nine-month revenue was $57.884M (+48.7%) and Adjusted EBITDA $11.785M (+121%).

• Management said it was on track for record 2026 results; the managed portfolio expanded to 115 assets from 91 a year earlier.

Financial highlights

• Q3 net income was $0.588M vs. $0.541M; nine-month net income was $11.422M vs. $3.576M, up 219%.

• Q3 operating income was $1.667M vs. $0.661M; nine-month operating income was $9.853M vs. $4.181M. Diluted EPS was $0.06 for Q3 and $1.05 for nine months.

• Nine-month operating cash flow was $8.5M vs. cash used of $0.5M; investing cash outflow was $16.5M, primarily reflecting venture and Jericho investments.

Outlook and guidance

• Management expects the Anchor Portfolio and recurring fee-based services to support growth, with portfolio expansion and third-party management contracts as key drivers.

• Development pipeline includes 6 commercial assets (~1.6M sq. ft.), 4 residential assets (>1,200 units; ~1.3M sq. ft.) and one 240-key hotel; delivery spans 2027–2030 and may shift with market conditions.

• Data center plans target powered-land opportunities for AI hyperscalers; a Mid-Atlantic parcel acquisition is under negotiation, contingent on entitlements and power agreements.