SL Green Q1 EPS $0.20 vs loss $0.63; FFO $3.07, raises FY FFO guidance to $7.35-7.65

SL GREEN REALTY CORP

2024-Q1 EPS reported $0.20 revenue$187,882,000

Net income $13.1M ($0.20/diluted share) vs net loss $39.7M ($0.63) in Q1 2023.
FFO $215.4M ($3.07/share), up from $105.5M ($1.53) YoY, includes $141.7M gain on debt extinguishment.
Raises FY 2024 FFO guidance to $7.35–$7.65/share (from $5.90–$6.20); net income guidance unchanged at $2.73–$3.03.
Manhattan same-store office occupancy 89.2% at Mar 31; expects to exceed 91.5% by Dec 31, 2024.
Launched $1.0B opportunistic debt fund; signed 60 Manhattan office leases totaling 633,660 sq ft in Q1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SL GREEN REALTY CORP reported the quarter ended March 31, 2024 results: net income net income attributable to common stockholders for the quarter ended March 31, 2024 of $13.1 million, or $0.20 per share, EPS $0.20 per share.

Period: the quarter ended March 31, 2024
Net income: net income attributable to common stockholders for the quarter ended March 31, 2024 of $13.1 million, or $0.20 per share
EPS: $0.20 per share
Result: reported results

Exact text from the filing

SL Green Realty Corp. (the "Company") (NYSE: SLG) today reported a net income attributable to common stockholders for the quarter ended March 31, 2024 of $13.1 million, or $0.20 per share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SL GREEN REALTY CORP reported the year ending December 31, 2024 results: EPS $2.73 to $3.03 per share. Guidance raised.

Period: the year ending December 31, 2024
EPS: $2.73 to $3.03 per share
Guidance: raised
Result: guidance update

Exact text from the filing

The Company is increasing its 2024 FFO guidance range for the year ending December 31, 2024 to FFO per share of $7.35 to $7.65, an increase of $1.45 per share at the midpoint, primarily to reflect gains on discounted debt extinguishments at 2 Herald Square as well as at 280 Park Avenue and 719 Seventh Avenue, as announced today, while maintaining its 2024 net income guidance range of $2.73 to $3.03 per share.

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Source: SEC EDGAR

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