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SL Green (SLG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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SL Green (SLG - Free Report) reported $128.2 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 26.6%. EPS of $3.07 for the same period compares to -$0.63 a year ago.
The reported revenue represents a surprise of -3.15% over the Zacks Consensus Estimate of $132.38 million. With the consensus EPS estimate being $2.32, the EPS surprise was +32.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 SL Green performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Rental revenue, net: $128.20 million versus $143.62 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -26.6% change.
Revenues- Other income: $13.37 million compared to the $18.54 million average estimate based on five analysts. The reported number represents a change of -31.4% year over year.
Revenues- Investment income: $7.40 million versus the five-analyst average estimate of $9.20 million. The reported number represents a year-over-year change of -18.3%.
Net Earnings Per Share (Diluted): $0.20 compared to the $0.30 average estimate based on six analysts.
Shares of SL Green have returned -6.3% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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SL Green (SLG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
SL Green (SLG - Free Report) reported $128.2 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 26.6%. EPS of $3.07 for the same period compares to -$0.63 a year ago.
The reported revenue represents a surprise of -3.15% over the Zacks Consensus Estimate of $132.38 million. With the consensus EPS estimate being $2.32, the EPS surprise was +32.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 SL Green performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Rental revenue, net: $128.20 million versus $143.62 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -26.6% change.
- Revenues- Other income: $13.37 million compared to the $18.54 million average estimate based on five analysts. The reported number represents a change of -31.4% year over year.
- Revenues- Investment income: $7.40 million versus the five-analyst average estimate of $9.20 million. The reported number represents a year-over-year change of -18.3%.
- Net Earnings Per Share (Diluted): $0.20 compared to the $0.30 average estimate based on six analysts.
View all Key Company Metrics for SL Green here>>>Shares of SL Green have returned -6.3% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.