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Simon Property (SPG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Simon Property (SPG - Free Report) reported $1.37 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 7%. EPS of $2.88 for the same period compares to $1.51 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.33 billion, representing a surprise of +3.26%. The company delivered an EPS surprise of -1.03%, with the consensus EPS estimate being $2.91.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Simon Property performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
U.S. Malls and Premium Outlets - Occupancy - Total Portfolio: 94.7% compared to the 94.43% average estimate based on three analysts.
Revenue- Management fees and other revenues: $33.51 million versus $28.80 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +16.3% change.
Revenue- Lease income: $1.25 billion versus the five-analyst average estimate of $1.24 billion. The reported number represents a year-over-year change of +5%.
Revenue- Other income: $81.14 million compared to the $63.84 million average estimate based on four analysts. The reported number represents a change of +44% year over year.
Net Earnings Per Share (Diluted): $1.49 versus $1.49 estimated by six analysts on average.
Shares of Simon Property have returned +7.2% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Simon Property (SPG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Simon Property (SPG - Free Report) reported $1.37 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 7%. EPS of $2.88 for the same period compares to $1.51 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.33 billion, representing a surprise of +3.26%. The company delivered an EPS surprise of -1.03%, with the consensus EPS estimate being $2.91.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Simon Property performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- U.S. Malls and Premium Outlets - Occupancy - Total Portfolio: 94.7% compared to the 94.43% average estimate based on three analysts.
- Revenue- Management fees and other revenues: $33.51 million versus $28.80 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +16.3% change.
- Revenue- Lease income: $1.25 billion versus the five-analyst average estimate of $1.24 billion. The reported number represents a year-over-year change of +5%.
- Revenue- Other income: $81.14 million compared to the $63.84 million average estimate based on four analysts. The reported number represents a change of +44% year over year.
- Net Earnings Per Share (Diluted): $1.49 versus $1.49 estimated by six analysts on average.
View all Key Company Metrics for Simon Property here>>>Shares of Simon Property have returned +7.2% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.