Clipper Realty Inc. (CLPR) Q2 2026 Earnings Call Transcript

Operator

Good day, ladies and gentlemen, and welcome to the Clipper Realty Q2 Earnings Conference Call. [Operator Instructions].

It is now my pleasure to turn the floor over to your host, Lawrence Sava, Corporate Controller. Lawrence, the floor is yours.

Lawrence Sava

Good afternoon, and thank you for joining us for the Second Quarter 2026 Clipper Realty Inc. Earnings Conference Call. Participating with me on today’s call are David Bistricer, Co-Chairman of the Board and Chief Executive Officer; and Larry Kreider, Chief Financial Officer.

Please be aware that statements made during the call that are not historical may be deemed forward-looking statements, and actual results may differ materially from those indicated by such forward-looking statements. These statements are subject to numerous risks and uncertainties including those disclosed in the company’s 2025 annual report on Form 10-K and 2026 second quarterly report on Form 10-Q just filed today, which are accessible at www.sec.gov and on our website.

As a reminder, the forward-looking statements speak only as of the date of this call, August 6, 2026, and the company undertakes no duty to update them. During this call, management may refer to certain nonfinancial — certain non-GAAP financial measures, including adjusted funds from operations or AFFO, adjusted earnings before interest, taxes, depreciation and amortization or adjusted EBITDA and net operating income or NOI. Please see our press release, supplemental financial information and Form 10-Q posted today for a reconciliation of these non-GAAP financial measures with the most directly comparable GAAP financial measures.

With that, I will now turn the call over to our Co-Chairman and CEO, David Bistricer.