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Simon Property (SPG) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Simon Property (SPG - Free Report) reported $1.41 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 7.2%. EPS of $3.20 for the same period compares to $1.65 a year ago.
The reported revenue represents a surprise of +3.15% over the Zacks Consensus Estimate of $1.37 billion. With the consensus EPS estimate being $2.98, the EPS surprise was +7.38%.
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 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: 95.2% versus the two-analyst average estimate of 94.9%.
Revenue- Management fees and other revenues: $30.06 million versus $30.21 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.9% change.
Revenue- Lease income: $1.30 billion compared to the $1.26 billion average estimate based on five analysts. The reported number represents a change of +6.9% year over year.
Revenue- Other income: $82.16 million versus the four-analyst average estimate of $83.99 million. The reported number represents a year-over-year change of +14.6%.
Net Earnings Per Share (Diluted): $1.82 versus the four-analyst average estimate of $1.58.
Shares of Simon Property have returned -3.2% over the past month versus the Zacks S&P 500 composite's -3.6% 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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Simon Property (SPG) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Simon Property (SPG - Free Report) reported $1.41 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 7.2%. EPS of $3.20 for the same period compares to $1.65 a year ago.
The reported revenue represents a surprise of +3.15% over the Zacks Consensus Estimate of $1.37 billion. With the consensus EPS estimate being $2.98, the EPS surprise was +7.38%.
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 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: 95.2% versus the two-analyst average estimate of 94.9%.
- Revenue- Management fees and other revenues: $30.06 million versus $30.21 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.9% change.
- Revenue- Lease income: $1.30 billion compared to the $1.26 billion average estimate based on five analysts. The reported number represents a change of +6.9% year over year.
- Revenue- Other income: $82.16 million versus the four-analyst average estimate of $83.99 million. The reported number represents a year-over-year change of +14.6%.
- Net Earnings Per Share (Diluted): $1.82 versus the four-analyst average estimate of $1.58.
View all Key Company Metrics for Simon Property here>>>Shares of Simon Property have returned -3.2% over the past month versus the Zacks S&P 500 composite's -3.6% 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.