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Phillips Edison & Company (PECO)
NASDAQ:PECO
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.13Last Year’s EPS
0.11Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2018
|% Change Since: 0.60%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Positive
The earnings call presented a positive outlook with strong financial performance, high occupancy rates, and successful acquisitions. However, there were some concerns about lower tenant recovery income and increased property-level expenses.Company Guidance
In the third quarter of 2024, Phillips Edison & Company (PECO) reported strong financial performance, with same-center net operating income (NOI) increasing by 3.2% and NAREIT FFO per share growth of 9.1%, while core FFO per share rose by 6.9%. The company achieved a high portfolio occupancy rate of 97.8%, with anchor occupancy at an impressive 99.4%, and in-line occupancy at 95%. New lease activity was robust, with a comparable new rent spread of 55% and in-line new rent spreads at 28.3%. PECO acquired nine shopping centers and several land parcels year-to-date, totaling $211 million, and updated its net acquisitions guidance to between $275 million and $325 million for the year. With a strong liquidity position of approximately $752 million and no significant debt maturities until 2027, PECO is well-positioned for continued growth in 2025 and beyond. The company's updated 2024 guidance projects NAREIT FFO between $2.35 and $2.39 per share, reflecting a 5.3% growth over 2023 at the midpoint.Strong Financial Performance
Same-center NOI increased by 3.2%, NAREIT FFO per share growth increased 9.1%, and core FFO per share growth increased 6.9%.
High Occupancy Rates
Portfolio occupancy remained high, ending the quarter at 97.8%, with anchor occupancy at 99.4%.
Successful Acquisitions
Year-to-date acquisition of 9 shopping centers and several land parcels for $211 million, with updated guidance to $275 million to $325 million of net acquisitions for the year.
Strong Leasing Momentum
New lease spreads for the third quarter at 55%, with in-line new rent spreads at 28.3%.
Favorable Debt Management
Completed a public debt offering of $350 million of 4.95% senior notes due 2035, with 93% of total debt at fixed rate.
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PECO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PECO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $36.71 | $36.02 | -1.88% |
| Jul 25, 2024 | $33.30 | $33.47 | +0.51% |
| Apr 25, 2024 | $32.11 | $31.80 | -0.97% |
| Feb 08, 2024 | $33.63 | $33.81 | +0.54% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Phillips Edison & Company (PECO) report earnings?
Phillips Edison & Company (PECO) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is Phillips Edison & Company (PECO) earnings time?
Phillips Edison & Company (PECO) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PECO EPS forecast?
PECO EPS forecast for the fiscal quarter 2024 (Q4) is 0.13.
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