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First Industrial Realty Trust (FR) Reports Q3 Earnings: What Key Metrics Have to Say

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For the quarter ended September 2023, First Industrial Realty Trust (FR - Free Report) reported revenue of $155.11 million, up 11% over the same period last year. EPS came in at $0.62, compared to $0.94 in the year-ago quarter.

The reported revenue represents a surprise of +2.28% over the Zacks Consensus Estimate of $151.65 million. With the consensus EPS estimate being $0.61, the EPS surprise was +1.64%.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how First Industrial Realty Trust performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Tenant Recoveries and Other Income: $35.80 million compared to the $34.01 million average estimate based on five analysts. The reported number represents a change of +12.7% year over year.
  • Revenues- Rental income: $118.75 million versus the five-analyst average estimate of $117.54 million. The reported number represents a year-over-year change of +10.3%.
  • Net Earnings Per Share (Diluted): $0.57 versus $0.30 estimated by six analysts on average.
View all Key Company Metrics for First Industrial Realty Trust here>>>

Shares of First Industrial Realty Trust have returned -11.7% over the past month versus the Zacks S&P 500 composite's -1.6% 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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