CMCT (CMCT) Q2 2026 Earnings Call Transcript

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DATE

Friday, Aug. 14, 2026 astatine 12:00 p.m. ET

CALL PARTICIPANTS

• Portfolio Oversight-Stephen Altebrando

• Chief Executive Officer-David Thompson

• Chief Financial Officer-Brandon Hill

Full Conference Call Transcript

Operator: Good afternoon, and invited to the Creative Media & Community Trust Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note, this lawsuit is being recorded. I would present similar to crook the telephone implicit to Steve Altebrando, Portfolio Oversight. Please spell ahead.

Stephen Altebrando: Hello, everyone, and convey you for joining us. My sanction is Steve Altebrando, the portfolio oversight for CMCT. Also connected the telephone contiguous are David Thompson, our Chief Executive Officer; and Brandon Hill, our Chief Financial Officer. This telephone is being webcast and volition beryllium temporarily archived connected the Investor Relations conception of our website, wherever you tin besides find our net release. Our net merchandise includes a reconciliation of non-GAAP fiscal measures discussed during today's call. During this call, we volition marque forward-looking statements. These forward-looking statements are based connected the beliefs of assumptions made by and accusation presently disposable to us.

Our existent results volition beryllium affected by known and chartless risks, trends, uncertainties and different factors that are beyond our power oregon quality to predict. Although we judge that our assumptions are reasonable, they are not guarantees of aboriginal show and immoderate volition beryllium to beryllium incorrect. Therefore, our existent aboriginal results tin beryllium expected to disagree from our expectations, and those differences whitethorn beryllium material. For a much elaborate statement of imaginable risks, delight notation to our SEC filings, which tin beryllium recovered successful the Investor Relations conception of our website. With that, I'll crook the telephone implicit to David Thompson.

David Thompson: Thanks, Steve. Hello, everyone, and convey you for joining america today. I'll statesman with an update connected our strategical priorities earlier reviewing our 2nd 4th operating results. Starting with our strategical priorities. First, we stay focused connected improving our funds from operations successful 2026 and 2027. We proceed to spot operating trends strengthening crossed our multifamily portfolio, our Los Angeles and Austin bureau assets and astatine our edifice plus successful Sacramento. These improvements are translating into stronger operating results. Excluding our JV nonaccomplishment successful the quarter, which was chiefly impacted by ample noncash items, our nett operating income accrued 22% from the anterior twelvemonth period, driven by our multifamily, bureau and edifice segments.