PECO Q1 Core FFO $0.60/shr (+4.5% YoY); same-center NOI +3.7%; affirms FY guidance

Phillips Edison & Company, Inc.

2024-Q1 EPS reported $0.14 revenue$161,302,000

Core FFO $81.7M ($0.60/shr), up 4.5% YoY; Nareit FFO $80.1M ($0.59/shr), up 4.9%.
Same-center NOI rose 3.7% to $106.7M; leased occupancy 97.2%, inline occupancy up 50 bps to 94.8%.
Acquired two shopping centers and one land parcel for $55.9M; net debt/EBITDA 5.1x.
Affirmed FY2024 Nareit FFO guidance $2.34-$2.41/shr and Core FFO $2.37-$2.45/shr.

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 months ended March 31, 2024 results: net income $17.7 million, EPS $0.14 per diluted share.

Period: the three months ended March 31, 2024
Net income: $17.7 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

For the three months ended March 31, 2024, net income attributable to stockholders was $17.7 million, or $0.14 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Phillips Edison & Company, Inc. updated its full year 2024 guidance (reaffirmed).

Period: full year 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

• Affirmed 2024 Nareit FFO and Core FFO guidance ranges of $2.34 to $2.41 per diluted share and $2.37 to $2.45 per diluted share, respectively

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Phillips Edison & Company, Inc. filing history →

Source: SEC EDGAR

accession 0001476204-24-000053

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