STHO earnings analysis
What we found in STHO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
The extracted filing does not include the current-quarter income statement, balance sheet, cash-flow statement, or segment disclosures, so current revenue, margins, EPS, free cash flow, and period-over-period trends cannot be verified. The principal quantified disclosure is interest-rate sensitivity: a 100-basis-point rate increase could reduce annual net income by $417 thousand, with $94.5 million of floating-rate debt obligations and $52.8 million of cash and restricted cash outstanding at June 30, 2026. No material changes to the 2025 Annual Report risk factors and no quantitative guidance were reported.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Disclosure Controls Remained Effective
- Management reported that disclosure controls and procedures were effective as of the end of the quarter, providing reasonable assurance over timely reporting. There were no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the period.
- Quantified Rate Sensitivity
- Interest-rate sensitivity is material: a 100-basis-point increase in rates was estimated to reduce annual net income by $417 thousand, while a 50-basis-point increase was estimated to reduce annual net income by $209 thousand.
- Liquidity and Floating-Rate Exposure
- The company had $52.8 million of cash and restricted cash against $94.5 million of floating-rate debt obligations as of June 30, 2026, highlighting the importance of liquidity and interest-rate management.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Higher Rates Could Pressure Earnings
- The filing quantifies exposure to higher rates: a 10-basis-point increase was estimated to reduce annual net income by $42 thousand, a 50-basis-point increase by $209 thousand, and a 100-basis-point increase by $417 thousand, assuming no changes in assets, liabilities, or the yield curve.
- Default and Liquidity Risk
- The company stated that, in a significant rising-rate environment or economic downturn, defaults could increase and lead to additional credit losses, adversely affecting liquidity and operating results. The exposure includes $94.5 million of floating-rate debt obligations outstanding as of June 30, 2026.
- No New Risk-Factor Changes
- No material changes were reported from the risk factors in the 2025 Annual Report. However, management continues to identify interest-rate movements, credit losses, and adverse effects on spreads between interest-earning assets and interest-bearing liabilities as material risks.
What they said about what is next.
No quantitative revenue or EPS outlook was provided in the extracted 10-Q. The filing states that, as of June 30, 2026, the company had $94.5 million of floating-rate debt obligations and $52.8 million of cash and restricted cash.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 8, 2026
- Star Holdings (STHO) reported Q1 2026 revenues of $20.9 million, a substantial increase of 42.3% compared to $14.6 million in Q1 2025. Despite improved revenues, the company faced higher costs, leading to an increased…
- 10-K · February 17, 2026
- Star Holdings (STHO) is positioning itself to realize value by monetizing legacy real estate assets and completing targeted development investments at Asbury Park Waterfront and Magnolia Green while relying on its Safe…
- 10-Q · November 7, 2025
- Star Holdings reported third-quarter 2025 total revenues of $28,108,000 (up from $24,550,000 in Q3 2024) and returned to a small operating profit with income from operations of $274,000. Net income allocable to common…
- 10-Q · May 12, 2025
- Star Holdings reported Q1 revenue of $14.624M (vs $25.436M a year ago) and GAAP net loss allocable to common shareholders of $7.604M, or $(0.57) per share (vs $(48.981)M, $(3.68) in Q1 2024). Revenue and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing STHO makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever