Sep 30, 2022

SL Green Q3 2022 Earnings Report

Reported mixed results with a decrease in net income but strategic investments and leasing activity during the quarter.

Key Takeaways

SL Green Realty Corp. reported a net income of $0.11 per share for Q3 2022, a significant decrease compared to $5.91 per share in the same period of 2021. FFO was $1.66 per share, slightly down from $1.78 per share in Q3 2021. The company signed 32 Manhattan office leases and completed strategic investments, including the acquisition of 245 Park Avenue.

Net income attributable to common stockholders was $0.11 per share, down from $5.91 per share year-over-year.

Funds from operations (FFO) amounted to $1.66 per share, compared to $1.78 per share in the same quarter last year.

Signed 32 Manhattan office leases covering 930,232 square feet.

Manhattan same-store office occupancy increased to 92.1% as of September 30, 2022.

Total Revenue
$143M
Previous year: $143M
+0.2%
EPS
$1.66
Previous year: $1.78
-6.7%
Gross Profit
$125M
Previous year: $126M
-0.7%
Cash and Equivalents
$201M
Previous year: $258M
-22.0%
Total Assets
$12.7B
Previous year: $10.9B
+17.1%

SL Green

SL Green

Forward Guidance

No explicit forward guidance provided in the current report.