The InterGroup (INTG) Q2 2026 earnings summary

Executive summary

• Net income of $1,000,000 for the quarter ended December 31, 2025, reversing a prior-year net loss of $3,697,000, driven by a $3,508,000 gain on sale of real estate and improved hotel and real estate operations.

• Six-month net loss narrowed to $197,000 from $4,549,000 year-over-year, with income from operations rising to $4,747,000 from $3,982,000.

• Sale of a non-core Los Angeles multifamily property enhanced liquidity and working capital.

Financial highlights

• Total revenues for the quarter rose 20% year-over-year to $17,301,000 from $14,441,000, with hotel revenues up 27% to $12,661,000.

• Net income attributable to shareholders was $1,515,000 ($0.71 per diluted share), up from a loss of $2,725,000 ($1.26 per diluted share) year-over-year.

• Six-month revenues reached $35,214,000, up from $31,347,000; real estate revenues increased to $10,135,000.

• Recognized a GAAP gain on sale of real estate of $3,508,000.

Outlook and guidance

• Liquidity remains stable following a March 2025 refinancing of hotel debt, with management forecasting adequate liquidity for the next twelve months.

• Management expressed cautious optimism regarding continued recovery in San Francisco hotel operations and ongoing focus on core real estate holdings.

• Ongoing market pressures in San Francisco hospitality are being addressed through cost controls and capital preservation.