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Jun 30, 2023
Saul Centers Q2 2023 Earnings Report
Reported an increase in revenue driven by higher commercial and residential base rents, but experienced a slight decrease in FFO due to increased interest expenses.
Key Takeaways
Saul Centers, Inc. reported an increase in total revenue and net income for the quarter ended June 30, 2023. Total revenue increased to $63.7 million, and net income increased to $17.2 million. However, FFO available to common stockholders and noncontrolling interests decreased slightly to $26.5 million.
Total revenue increased to $63.7 million from $60.3 million year-over-year.
Net income increased to $17.2 million from $17.0 million year-over-year.
Net income available to common stockholders increased to $10.4 million, or $0.43 per basic and diluted share, from $10.2 million, or $0.43 per basic and diluted share, year-over-year.
FFO available to common stockholders and noncontrolling interests decreased to $26.5 million, or $0.79 per basic share and $0.78 per diluted share.
Saul Centers
Saul Centers
Saul Centers Revenue by Segment
Revenue by Segment
Shopping Centers Revenue
CapyFin.comMixed-Use properties Revenue
CapyFin.comRevenue & Expenses
Visualization of income flow from segment revenue to net income