PECO raises FY 2023 FFO guidance; Q2 Core FFO $0.59/shr, same-center NOI +5.3%

Phillips Edison & Company, Inc.

2023-Q2 EPS reported $0.26 revenue$303,201,000

Q2 2023 Core FFO $0.59/diluted share ($77.7M), up 8.2% YoY; Nareit FFO $0.58/diluted ($75.9M), up 6.7%.
Same-center NOI +5.3% to $99.0M; leased occupancy record 97.8% (+100 bps YoY).
Raised FY 2023 Core FFO guidance to $2.30–$2.36/shr (prior $2.26–$2.33) and Nareit FFO to $2.27–$2.32.
Extended $475M+ in 2024 term loans to 2026/2027; pricing unchanged at SOFR+1.35%; net debt/EBITDAre 5.2x.
Renewal rent spreads record 17.7%; new lease spreads 25.1%; total liquidity $629.1M.

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

Phillips Edison & Company, Inc. reported the three and six months ended June 30, 2023 results: net income $14.5 million, or $0.12 per diluted share, and $31.1 million, or $0.26, per diluted share, respectively, EPS $0.12 per diluted share. Guidance raised.

Period: the three and six months ended June 30, 2023
Net income: $14.5 million, or $0.12 per diluted share, and $31.1 million, or $0.26, per diluted share, respectively
EPS: $0.12 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

For the three and six months ended June 30, 2023, net income attributable to stockholders was $14.5 million, or $0.12 per diluted share, and $31.1 million, or $0.26, per diluted share, respectively.

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Source: SEC EDGAR

accession 0001476204-23-000096

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