OMAHA, Neb.–(BUSINESS THREAD)–Boston Omaha Corporation (NYSE: BOC) (the “Company”) announced its financial results for the second quarter ended June 30, 2022 in connection with the filing of its Quarterly Report on Form 10-Q on Securities and Exchange Commission.
Below are summarized financial data for the second quarter of 2022 and 2021. Our quarterly report on Form 10-Q can be found at www.bostonomaha.com.
As a result of a change in generally accepted accounting principles in 2018, we are required to include unrealized changes in the market prices of investments in public equity securities in our reported earnings(3).
In the table above, other net income (loss) includes other investment losses of $16,933,563 in the second quarter of 2022, which primarily relate to unrealized losses on public securities of Boston Omaha and our subsidiary United Casualty and Surety Insurance Company.. Although we intend to hold our current securities for the long term, we may choose to sell them in the future for various reasons that result in realized gains or losses.
Cash outflow from operations for the six months ended June 30, 2022 was ($14,679,836), compared to cash inflows of $5,290,113 for the six months ended June 30 of 2021.
Our book value per share was $16.88 as of June 30, 2022, compared to $16.71 as of December 31, 2021.
As of June 30, 2022, we had 28,642,801 shares of Class A common stock and 1,055,560 shares of Class B common stock issued and outstanding.
As of August 12, 2022, we had 28,642,801 shares of Class A common stock and 1,055,560 shares of Class B common stock issued and outstanding.
About Boston Omaha Corporation
Boston Omaha Corporation is a public holding company with four majority-owned companies engaged in outdoor advertising, bail insurance, broadband telecommunications services and asset management.
Forward-looking statements
Any statements in this press release about the company’s future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, total revenue, as well as other statements containing the words “anticipate”. “believe”, “continue”, “could”, “estimate”, “expect”, “attempt”, “could”, “could”, “plan”, “potential”, “predict”, “project”, “should of ,” “target,” “will” or “would” and similar expressions constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company may not achieve actually the plans, intentions or expectations disclosed in the company’s forward-looking statements, and you should not place undue reliance on the company’s forward-looking statements.Actual results or events could differ materially from the plans, intentions or expectations disclosed in the forward-looking statements that the company does as a result of a variety of risks and uncertainties, including risks related to the company’s estimates of the potential market opportunity for the company’s current and future products and services, the impact of the pandemic and from COVID-19, the competitive nature of the industries in which we conduct our business, general business and economic conditions, our ability to acquire suitable businesses, our ability to successfully integrate acquired businesses, the effect of a loss or financial difficulty of any reinsurance company on which we rely for our insurance operations, the risks associated with our investments in both publicly traded securities and private businesses, our loss history and the ability to maintain profitability in the future, the Company’s expectations regarding the Company’s sales, expenses, crude oil and other results of operations, and the other risks and uncertainties described in the “Factors of risk” from the Company’s public filings with the Securities and Exchange Commission (the “SEC”) on Form 10-K for the year ended December 31, 2021, as well as high any risks and uncertainties that may be described in any subsequent quarterly report on Form 10-Q filed by the Company and the other reports that the Company files with the SEC. Copies of our SEC filings are available on our website at www.bostonomaha.com. In addition, the forward-looking statements included in this press release represent the company’s views as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company’s views to change. However, although the Company may choose to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be deemed to represent the views of the Company as of any date subsequent to the date hereof.
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