SL Green Realty (NYSE: SLG) reported Q1 EPS of $1.47, $0.69 better than the analyst estimate of $0.78. Revenue for the quarter came in at $314.3 million versus the consensus estimate of $233.95 million.

• Net income attributable to common stockholders of $1.47 per share for the first quarter as compared to $0.52 per share for the same period in 2019. Net income attributable to common stockholders for the first quarter of 2020 includes $72.3 million, or $0.88 per share, of net gain recognized from the sale of The Olivia.
• Funds from operations, or FFO, of $2.08 per share for the first quarter, which includes the recognition of $37.7 million, or $0.46 per share, of incremental income from Credit Suisse at 1 Madison Avenue representing rent through December 31, 2020, offset by $11.2 million, or $0.14 per share, of reserves against the Company’s debt and preferred equity portfolio related to the potential sale of certain investments and the implementation of the Current Expected Credit Loss, or CECL, regulations. FFO for the same period in 2019 was $1.68 per share.

GUIDANCE:

SL Green Realty sees FY2020 EPS of $1.83-$2.33, versus the consensus of $1.40.

For earnings history and earnings-related data on SL Green Realty (SLG) click here.