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Jun 30, 2024
SL Green Q2 2024 Earnings Report
Reported a net loss attributable to common stockholders of $0.04 per share and FFO of $2.05 per share.
Key Takeaways
SL Green Realty Corp. reported a net loss attributable to common stockholders of $0.04 per share for the second quarter of 2024. FFO was $2.05 per share, inclusive of gains on discounted debt extinguishments. The company is increasing its 2024 earnings guidance range for FFO per share.
Net loss attributable to common stockholders of $0.04 per share for the second quarter of 2024.
FFO of $2.05 per share for the second quarter of 2024, inclusive of gains on discounted debt extinguishments.
Increased 2024 earnings guidance range for FFO per share to $7.45 to $7.75.
Signed 38 Manhattan office leases covering 420,513 square feet in the second quarter of 2024.
Revenue by Segment
Forward Guidance
The Company is increasing its 2024 earnings guidance range for the year ending December 31, 2024 to FFO per share of $7.45 to $7.75, to reflect the outperformance of the real estate portfolio and SUMMIT One Vanderbilt as well as incremental fee generation, while maintaining its 2024 net income guidance range of $2.73 to $3.03.
Positive Outlook
- Increased FFO per share guidance reflects the outperformance of the real estate portfolio.
- Increased FFO per share guidance reflects the SUMMIT One Vanderbilt performance.
- Increased FFO per share guidance reflects incremental fee generation.
- Maintained 2024 net income guidance range.
- Company expects to increase Manhattan same-store office occupancy, inclusive of leases signed but not yet commenced, to more than 91.5% by December 31, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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