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Simon Property (SPG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, Simon Property (SPG - Free Report) reported revenue of $1.44 billion, up 6.8% over the same period last year. EPS came in at $3.56, compared to $1.38 in the year-ago quarter.
The reported revenue represents a surprise of +2.47% over the Zacks Consensus Estimate of $1.41 billion. With the consensus EPS estimate being $2.80, the EPS surprise was +27.14%.
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: 95.5% versus the three-analyst average estimate of 95.7%.
Revenue- Management fees and other revenues: $29.46 million compared to the $30.21 million average estimate based on six analysts. The reported number represents a change of +1.8% year over year.
Revenue- Other income: $110.46 million versus the four-analyst average estimate of $81.77 million. The reported number represents a year-over-year change of +49.9%.
Revenue- Lease income: $1.30 billion compared to the $1.30 billion average estimate based on four analysts. The reported number represents a change of +4.4% year over year.
Net Earnings Per Share (Diluted): $2.25 versus the four-analyst average estimate of $1.44.
Shares of Simon Property have returned -4.8% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Simon Property (SPG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, Simon Property (SPG - Free Report) reported revenue of $1.44 billion, up 6.8% over the same period last year. EPS came in at $3.56, compared to $1.38 in the year-ago quarter.
The reported revenue represents a surprise of +2.47% over the Zacks Consensus Estimate of $1.41 billion. With the consensus EPS estimate being $2.80, the EPS surprise was +27.14%.
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: 95.5% versus the three-analyst average estimate of 95.7%.
- Revenue- Management fees and other revenues: $29.46 million compared to the $30.21 million average estimate based on six analysts. The reported number represents a change of +1.8% year over year.
- Revenue- Other income: $110.46 million versus the four-analyst average estimate of $81.77 million. The reported number represents a year-over-year change of +49.9%.
- Revenue- Lease income: $1.30 billion compared to the $1.30 billion average estimate based on four analysts. The reported number represents a change of +4.4% year over year.
- Net Earnings Per Share (Diluted): $2.25 versus the four-analyst average estimate of $1.44.
View all Key Company Metrics for Simon Property here>>>Shares of Simon Property have returned -4.8% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.