Ramco-Gershenson (RPT) Misses Q2 EPS by 3c, Revenues Beat; Offers FY18 EPS Guidance

Ramco-Gershenson (NYSE: RPT) reported Q2 EPS of $0.03, $0.03 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $69.97 million versus the consensus estimate of $62.91 million.

“As we start a new chapter at RPT, we are very excited by the significant opportunity we have before us to create meaningful shareholder value,” said Brian Harper, President and Chief Executive Officer. “Having put in place a first-class management team with deep retail real estate experience, we have worked quickly and diligently to create a plan to drive internal growth, through increasing occupancy and rent per square foot, building a densification pipeline, enhancing our operating platform and fortifying our balance sheet. While some of these initiatives will be longer term, we have already taken steps to capture near-term growth and enhance efficiencies. Our entire organization is focused and energized as we move forward.”

GUIDANCE:

Ramco-Gershenson sees FY2018 EPS of $0.24-$0.28, versus the consensus of $0.27.

For earnings history and earnings-related data on Ramco-Gershenson (RPT) click here.

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