Brixmor Property Group (BRX) Tops Q1 EPS by 8c, provides guidance

Brixmor Property Group (NYSE: BRX) reported Q1 EPS of $0.29, $0.08 better than the analyst estimate of $0.21. Revenue for the quarter came in at $320.24 million versus the consensus estimate of $314.69 million.

Guidance:

The Company has updated its previously provided NAREIT FFO per diluted share expectations for 2024 to $2.08 - $2.11 from $2.06 - $2.10 and same property NOI growth expectations for 2024 to 3.50% - 4.25% from 2.50% - 3.50%.
Expectations for 2024 Nareit FFO:

Do not contemplate any additional tenants moving to or from a cash basis of accounting, either of which may result in significant volatility in straight-line rental income
Do not include any additional items that impact FFO comparability, which include transaction expenses, net, litigation and other non-routine legal expenses, and gain or loss on extinguishment of debt, net, or any other one-time items.

Nareit FFO: 2024E : $630 - $639
2024E Per Diluted Share: $2.08 - $2.11

For earnings history and earnings-related data on Brixmor Property Group (BRX) click here.

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