Phillips Edison Q3 2022 Earnings Report
Key Takeaways
Phillips Edison & Company reported net income attributable to stockholders of $11.0 million, or $0.09 per diluted share, for the three months ended September 30, 2022. Nareit FFO totaled $72.0 million, or $0.55 per diluted share and Core FFO totaled $76.6 million, or $0.58 per diluted share. Same-center NOI increased 4.3% versus the third quarter ended September 30, 2021 and leased portfolio occupancy as of September 30, 2022 increased to a record-high 97.1%.
Nareit FFO totaled $72.0 million, or $0.55 per diluted share
Core FFO totaled $76.6 million, or $0.58 per diluted share
Same-center NOI increased 4.3% versus the third quarter ended September 30, 2021
Leased portfolio occupancy as of September 30, 2022 increased to a record-high 97.1%
Phillips Edison
Phillips Edison
Phillips Edison Revenue by Segment
Forward Guidance
PECO has updated earnings guidance for the year ending December 31, 2022 to reflect strong property results from record occupancy and leasing spreads to date and lower than expected corporate and general and administrative expenses.
Positive Outlook
- Strong property results from record occupancy
- Strong leasing spreads to date
- Lower than expected corporate and general and administrative expenses
- Net income per share guidance updated to $0.36 - $0.39
- Core FFO per share guidance updated to $2.22 - $2.26
Revenue & Expenses
Visualization of income flow from segment revenue to net income