Loading...
•
Dec 31, 2022
Phillips Edison Q4 2022 Earnings Report
Reported an increase in net income and same-center NOI, with leased portfolio occupancy reaching a record high.
Key Takeaways
Phillips Edison & Company reported Q4 2022 results, featuring a net income of $13.7 million, or $0.12 per diluted share. Nareit FFO totaled $70.6 million, or $0.54 per diluted share and Core FFO totaled $74.3 million, or $0.56 per diluted share. Same-center NOI increased by 2.8% and leased portfolio occupancy reached a record 97.4%.
Nareit FFO totaled $70.6 million, or $0.54 per diluted share.
Core FFO totaled $74.3 million, or $0.56 per diluted share.
Same-center NOI increased 2.8% versus the three months ended December 31, 2021.
Leased portfolio occupancy increased by 30 basis points over the prior quarter to a record 97.4%
Revenue by Segment
Forward Guidance
PECO provided initial guidance for 2023, with net income per share expected to be between $0.47 and $0.52, Nareit FFO per share between $2.23 and $2.29, and Core FFO per share between $2.28 and $2.34. Same-Center NOI growth is projected to be between 3.0% and 4.0%.
Positive Outlook
- Net income per share is projected to be between $0.47 and $0.52.
- Nareit FFO per share is expected to range from $2.23 to $2.29.
- Core FFO per share is anticipated to be between $2.28 and $2.34.
- Same-Center NOI growth is forecasted to be between 3.0% and 4.0%.
- The company anticipates net acquisitions between $200 million and $300 million.
Challenges Ahead
- Interest expense, net, is projected to be between $83 million and $89 million.
- G&A expense is expected to be between $44 million and $48 million.
- Non-cash revenue items are projected to be between $15 million and $20 million.
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...