One Liberty Q3 net income $7.2M ($0.34 EPS); same-store rental income up; Regal Cinemas bankruptcy threatens future rent

ONE LIBERTY PROPERTIES INC

2022-Q3 EPS reported $1.57

Q3 net income $7.2M ($0.34 diluted) vs $6.1M ($0.28) YoY; includes $4.1M gain on property sale.
FFO $9.2M ($0.44 diluted) vs $9.8M ($0.47); AFFO flat at $10.1M ($0.48) per diluted share.
Rental income $21.5M, up 5.9% YoY; same-store rental income increased $741k.
Regal Cinemas parent filed Chapter 11; OLP expects materially reduced rent from three properties (scheduled $3.0M next 12 months, $22.2M thereafter).
Post-quarter: extended Shutterfly lease to 2033 with $2.0M base rent (+67%) and Power Distributor lease 7 yrs at $864k base (+10%).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ONE LIBERTY PROPERTIES INC reported third quarter ended September 30, 2022 results: revenue $21.5 million, net income $7.2 million, EPS $0.34 per diluted share.

Period: third quarter ended September 30, 2022
Revenue: $21.5 million
Net income: $7.2 million
EPS: $0.34 per diluted share
Result: reported results

Exact text from the filing

to grow the business near-term, we believe it is prudent to ensure we are positioned to effectively navigate the evolving landscape.” Operating Results: Rental income was $21.5 million in the third quarter of 2022, compared to $20.3 million in the third quarter of 2021. Approximately $741,000 of the improvement is due to an increase in same-store rental income

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Source: SEC EDGAR

accession 0001213900-22-068976

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