NexPoint Residential Trust, Inc. (NYSE:NXRT) Q2 2023 Earnings Conference Call July 25, 2023 11:00 AM ET
Company Participants
Kristen Thomas - Investor Relations
Brian Mitts - Executive Vice President & Chief Financial Officer
Matt McGraner - Executive Vice President & Chief Investment Officer
Conference Call Participants
Michael Lewis - Truist Securities
Buck Horne - Raymond James
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the NexPoint Residential Trust Q2 2023 Conference Call.
I would now like to turn the call over to Kristen Thomas. Please go ahead.
Kristen Thomas
Thank you. Good day, everyone, and welcome to NexPoint Residential Trust conference call to review the company's results for the second quarter ended June 30, 2023.
On the call today are Brian Mitts, Executive Vice President and Chief Financial Officer; Matt McGraner, Executive Vice President and Chief Investment Officer; and Bonner McDermett, Vice President, Asset and Investment Management. As a reminder, this call is being webcast to the company's website at nxrt.nexpoint.com.
Before we begin, I would like to remind everyone that this conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Listeners should not place undue reliance on any forward-looking statements and are encouraged to review the company's most recent annual report on Form 10-K and the company's other filings with the SEC for a more complete discussion of risks and other factors that could affect any forward-looking statements.
The statements made during this conference call speak only as of today's date and except as required by law NXRT does not undertake any obligation to publicly update or revise any forward-looking statements. This conference call also includes an analysis of non-GAAP financial measures. For a more complete discussion of this non-GAAP financial measures see the company's earnings release that was filed earlier today.
I would now like to turn the call over to Brian Mitts. Please go ahead, Brian.
Brian Mitts
Thanks, Kristen. Welcome to everyone joining us. Appreciate you participating. I'm going to kick off the call and cover our Q2 and year-to-date results. I'll talk about our updated NAV and then revise guidance before I turn it over to Matt to discuss some of our results and forward guidance in detail.
Our results for second quarter are as follows. Net loss for the second quarter was $4 million or $0.15 per loss -- per share loss and that's per diluted share on total revenue of $69.6 million as compared to a net loss of $7.8 million or a $0.30 loss per diluted share in the same period in 2022. That's on total -- that was on total revenue of $65.8 million, which is a 6% increase in revenue.