J.W. Mays Revenue Drops 8% to $10.5M, Posts $843K Loss in H1 FY2026
J.W. Mays Inc., a New York-based retail property operator, reported revenue of $10.46 million for the six months ending January 31, 2026, down from $11.18 million in the prior-year period. The company swung to a net loss of $843,000.
J.W. Mays Inc., a New York-based retail property operator, reported revenue of $10.46 million for the six months ending January 31, 2026, a decline of 6.4% from $11.18 million in the same period a year earlier. The company posted a net loss of $843,000 for the first half of fiscal 2026, compared to a loss of $131,000 in the prior-year period. Read more earnings reports.
Operating expenses climbed to $11.66 million from $11.31 million, outpacing the revenue decline and pushing the operating loss to $1.20 million from $130,000 a year earlier. For the three months ending January 31, 2026, revenue fell 7.7% to $5.21 million from $5.64 million, while the quarterly net loss widened to $509,000 from $158,000.
The company reported earnings per share of negative $0.42 for the six-month period, compared to negative $0.07 in the prior year. For the quarter, EPS stood at negative $0.25 versus negative $0.08 a year earlier.
Cash Position and Operations
Cash from operations totaled $1.19 million for the six months ending January 31, 2026, down from $1.42 million in the prior-year period. The company's cash and cash equivalents stood at $434,000 as of January 31, 2026, compared to $749,000 at the end of July 2025. Including restricted cash, total liquidity was $1.47 million at quarter-end.
Investing activities consumed $1.39 million, more than double the $663,000 spent in the first half of fiscal 2025. Property, plant, and equipment increased to $49.04 million from $48.75 million at the end of July 2025.
Balance Sheet
Total assets rose slightly to $88.38 million as of January 31, 2026, from $88.05 million at the end of the prior fiscal year. Total liabilities increased to $36.46 million from $35.29 million, with long-term debt standing at $3.15 million. Stockholders' equity declined to $51.92 million from $52.76 million at July 31, 2025.
Retained earnings fell to $47.68 million from $48.53 million as the company absorbed the half-year loss. The company had 2.02 million common shares outstanding at the end of the period, unchanged from the previous quarter.
Financial Summary
| Metric | Six Months Ending Jan 31, 2026 | Six Months Ending Jan 31, 2025 |
|---|---|---|
| Total Revenue | $10.46 million | $11.18 million |
| Operating Expenses | $11.66 million | $11.31 million |
| Operating Loss | ($1.20 million) | ($130,000) |
| Net Loss | ($843,000) | ($131,000) |
| EPS (Diluted) | ($0.42) | ($0.07) |
| Cash from Operations | $1.19 million | $1.42 million |
Depreciation and amortization for the six-month period totaled $943,000, up from $889,000 in the prior year. Financing activities used $81,000 in the first half of fiscal 2026, compared to $575,000 in the prior-year period.