Getty Realty (GTY) Misses Q3 EPS by 6c, Slight Miss on Revenues; Offers FY17 AFFO Guidance

Getty Realty (NYSE: GTY) reported Q3 EPS of $0.24, $0.06 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $24.91 million versus the consensus estimate of $25 million.

• Net earnings of $0.24 per share
• Funds From Operations (FFO) of $0.42 per share
• Adjusted Funds From Operations (AFFO) of $0.42 per share
• Acquired 54 properties for $126.1 million
• Issued 4.7 million shares of common stock for net proceeds of $104.3 million

2017 Guidance

The Company is raising its 2017 AFFO guidance to a range of $1.60 to $1.64 per share, from $1.54 to $1.60 per share. The Company’s guidance excludes the effect of Notable Items, as discussed above, that are not representative of the Company’s core business or are not likely to occur on a regular basis. Through the nine months ended September 30, 2017, such Notable Items resulted in a net benefit of $0.12 per share. The Company’s guidance does not assume any potential future acquisitions or capital markets activities, but does include the impact of the Company’s common stock offering in July 2017 and the closing of the Empire and Applegreen transactions. The guidance is based on current plans and assumptions and is subject to risks and uncertainties more fully described in this press release and the Company’s reports filed with the Securities and Exchange Commission.

For earnings history and earnings-related data on Getty Realty (GTY) click here.

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