Simon Property Group (SPG) Misses Q1 EPS by 2c, Beats on Revenue; Reaffirms FY Guidance

Simon Property Group (NYSE: SPG) reported Q1 EPS of $1.53, $0.02 worse than the analyst estimate of $1.55. Revenue for the quarter came in at $1.35 billion versus the consensus estimate of $1.33 billion.

"We are off to a good start in 2017 with the reporting of financial and operational results that exceeded our expectations, led by 3.8% growth in comparable property net operating income," said David Simon, Chairman and Chief Executive Officer. "We continue to strengthen our retail real estate portfolio through our investment activities, including the opening of two new international outlet centers. Today, even in the current choppy retail environment, we are pleased to reaffirm our outlook for the year which is a testament to the strength of our company."

GUIDANCE:

Simon Property Group sees FY2017 EPS of $6.50-$6.60, versus the consensus of $6.60.

For earnings history and earnings-related data on Simon Property Group (SPG) click here.

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