Loading...
•
Jun 30, 2022
Phillips Edison Q2 2022 Earnings Report
Phillips Edison reported second quarter 2022 results, highlighted by a record-high leased portfolio occupancy and increased same-center NOI.
Key Takeaways
Phillips Edison & Company reported a net income attributable to stockholders of $13.5 million, or $0.12 per diluted share, for the three months ended June 30, 2022. The company achieved a record-high leased portfolio occupancy of 96.8% and increased same-center NOI by 4.3% compared to the second quarter of 2021. Given these accomplishments, the company is raising its guidance for Net Income, Core FFO, and same-center NOI.
Nareit FFO totaled $71.1 million, or $0.55 per diluted share.
Core FFO totaled $71.8 million, or $0.56 per diluted share.
Leased portfolio occupancy as of June 30, 2022 increased to a record-high 96.8%.
Same-center NOI increased 4.3% versus the second quarter ended June 30, 2021.
Revenue by Segment
Forward Guidance
PECO has updated earnings guidance for the year ending December 31, 2022 to reflect accelerated same-center NOI growth due to favorable leasing activity, favorable bad debt and straight-line rent impacts, the issuance to-date of common shares through the Company’s ATM program, and updated acquisition activity and debt transactions
Positive Outlook
- Accelerated same-center NOI growth due to favorable leasing activity
- Favorable bad debt impacts
- Favorable straight-line rent impacts
- The issuance to-date of common shares through the Company’s ATM program
- Net income per share is expected to be between $0.34 - $0.40
Challenges Ahead
- Updated acquisition activity
- Updated debt transactions
- Nareit FFO per share is expected to be between $2.09 - $2.15
- Core FFO per share is expected to be between $2.19 - $2.25
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...