WP Glimcher (WPG) Reports In-Line Q1 EPS; Raises Outlook

WP Glimcher (NYSE: WPG) reported Q1 EPS of $0.05, in-line with the analyst estimate of $0.05.

Funds from Operations (“FFO”) for the first quarter of 2017 were $94.0 million, or $0.42 per diluted share. This compares to $91.7 million, or $0.42 per diluted share, during the same quarter a year ago.

Company increases full year 2017 guidance. The Company increased its guidance for fiscal 2017 for net income attributable to common shareholders and FFO in the range of $1.13 to $1.22 per diluted share and the range of $1.64 and $1.70 per diluted share, respectively. The update to guidance was primarily attributable to the impact of the recently completed Mesa Mall discounted debt payoff and better-than-expected operating results during the first quarter. There were no other major changes to key guidance assumptions for 2017.

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

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