Direcional Engenharia S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 07:04 pm EDT
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Direcional Engenharia S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net income was BRL 104.44 million compared to BRL 22.43 million a year ago. Basic earnings per share from continuing operations was BRL 0.7 compared to BRL 0.15 a year ago. Diluted earnings per share from continuing operations was BRL 0.69 compared to BRL 0.15 a year ago.
For the six months, net income was BRL 163.19 million compared to BRL 49.14 million a year ago. Basic earnings per share from continuing operations was BRL 1.09 compared to BRL 0.33 a year ago. Diluted earnings per share from continuing operations was BRL 1.08 compared to BRL 0.33 a year ago.
Direcional Engenharia SA is a Brazil-based company engaged in the residential real estate sector. The Company focuses on development and construction of residential housing projects, targeting the low-income segment. It mainly builds multifamily homes that form a residential district. The Company develops its activities through special partnerships (SCPs) and special purpose entities (SPEs), which are active exclusively in the real estate sector. It operates in the states of Rio de Janeiro, Sao Paulo, Rio Grande do Sul, Minas Gerais, Para and Amazonas, among others, Brazil. The Company owns numerous subsidiaries, such as Direcional Taguatinga Engenharia Ltda, Ametista Empreendimentos Imobiliarios Ltda and Malaquita Empreendimentos Imobiliarios Ltda.
DIRECIONAL ENGENHARIA S.A. 
