New Concept Energy (GBR) Q4 2024 earnings summary

Executive summary

• Reported a net loss of $19,000 for Q4 2024, an improvement from a $39,000 net loss in Q4 2023.

• Full year 2024 net loss was $18,000, slightly better than the $21,000 net loss in 2023.

Financial highlights

• Total revenues for 2024 were $146,000, down from $152,000 in 2023, due to lower management fees from oil and gas operations.

• Operating expenses decreased to $383,000 in 2024 from $395,000 in 2023.

• Interest income was $213,000 in 2024, compared to $222,000 in 2023.

• Net loss per share remained at $(0.01) for both 2024 and 2023.

Segment performance

• Rental income from leased property was stable at $101,000 for both 2024 and 2023.

• Management fee revenue declined to $45,000 in 2024 from $51,000 in 2023, reflecting lower oil and gas prices.