WP Glimcher (WPG) Misses Q2 EPS by 2c

WP Glimcher (NYSE: WPG) reported Q2 EPS of $0.02, $0.02 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $237.6 million versus the consensus estimate of $241.2 million.

Funds from Operations ("FFO") were $95.2 million, or $0.43 per diluted share, for the quarter ended June 30, 2015 compared to $41.3 million, or $0.22 per diluted share, in the prior year period. Results for the second quarter of 2015 include a total of $11.2 million of costs related to the merger with Glimcher, including amortization associated with the up-front bridge loan fees. When excluding these costs, adjusted FFO per share was $106.4 million, or $0.48 per diluted share for the quarter ended June 30, 2015.

WP Glimcher sees FY2015 EPS of ($0.08)-($0.03), versus the consensus of $0.12.

For earnings history and earnings-related data on WP Glimcher (WPG) click here.

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