Simon Property Group (SPG) Tops Q1 EPS by 48c, Beats on Revenues; Offers FY18 EPS Outlook Above Consensus

Simon Property Group (NYSE: SPG) reported Q1 EPS of $2.00, $0.48 better than the analyst estimate of $1.52. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.37 billion.

Results for the Quarter

• Net income attributable to common stockholders was $620.7 million, or $2.00 per diluted share, as compared to $477.7 million, or $1.53 per diluted share, in the prior year period. The first quarter 2018 results include net gains primarily related to disposition activity of $135.3 million, or $0.38 per diluted share.
• FFO was $1.026 billion, or $2.87 per diluted share, as compared to $985.0 million, or $2.74 per diluted share, in the prior year period, an increase of 4.7%.
• Year-over-year increase in quarterly common stock dividend of 11.4%.

2018 Guidance

The Company currently estimates net income to be within a range of $7.33 to $7.43 per diluted share for the year ending December 31, 2018 and that FFO will be within a range of $11.95 to $12.05 per diluted share.

GUIDANCE:

Simon Property Group sees FY2018 EPS of $7.33-$7.43, versus the consensus of $6.65.

For earnings history and earnings-related data on Simon Property Group (SPG) click here.

You May Also Be Interested In

• ​Trump said he was unaware of his earnings from crypto
• Concentrix Corporation (CNXC) Misses Q2 EPS by 1c; Guides lower than expectations
• Tesla Q2 deliveries reach 480,126, topping estimates of 406,024