PECO Q1 2023 Core FFO $0.59/shr; same-center NOI +4.9%, affirms FY guidance

Phillips Edison & Company, Inc.

2023-Q1 EPS reported $0.14 revenue$151,064,000

Net income $16.6M ($0.14 diluted EPS); Core FFO $78.2M ($0.59/diluted), up from $0.56 YoY.
Same-center NOI +4.9% to $98.6M; leased occupancy record 97.5%, +130 bps YoY.
Acquired four Publix-anchored centers for $78.7M in Nashville, Atlanta, Miami suburbs.
Affirms 2023 guidance; executed forward-starting swap $200M at 3.36% effective Sept 2023.
Net debt to annualized EBITDAre unchanged at 5.3x; weighted-average interest rate 3.8%.

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 0.95

Phillips Edison & Company, Inc. reported the three months ended March 31, 2023 results: net income $16.6 million, EPS $0.14 per diluted share. Guidance reaffirmed.

Period: the three months ended March 31, 2023
Net income: $16.6 million
EPS: $0.14 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored omni-channel neighborhood shopping centers, reported net income attributable to stockholders of $16.6 million, or $0.14 per diluted share, for the three months ended March 31, 2023.

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Phillips Edison & Company, Inc. filing history →

Source: SEC EDGAR

accession 0001476204-23-000061

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