Brixmor reports Q1 net income $112M, raises FFO guidance, occupancy record 94%

Brixmor Property Group Inc.

2023-Q1 EPS reported $0.37 revenue$311,444,000

Net income $112.2M ($0.37 diluted EPS) vs $79.5M ($0.26); NAREIT FFO $151.6M ($0.50) vs $145.4M ($0.49).
Same property NOI +4.9% driven by base rent growth 500 bps; total leased occupancy record 94.0%.
Updated 2023 NAREIT FFO guidance to $1.97-$2.04; same property NOI growth raised to 2.0%-3.5%.
Repurchased $199.6M of 3.650% Senior Notes due 2024; funded by $200M term loan swapped to fixed 3.59%.
Appointed Sheryl M. Crosland as independent board chair; declared $0.26/share quarterly dividend payable July 17.

item 2.02 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

Brixmor Property Group Inc. reported the three months ended March 31, 2023 results: net income net income was $112.2 million, or $0.37 per diluted share, and $79.5 million, or $0.26 per diluted share, respectively, EPS net income was $0.37 per diluted share and $0.26 per diluted share, respectively. Guidance raised.

Period: the three months ended March 31, 2023
Net income: net income was $112.2 million, or $0.37 per diluted share, and $79.5 million, or $0.26 per diluted share, respectively
EPS: net income was $0.37 per diluted share and $0.26 per diluted share, respectively
Guidance: raised
Result: reported results

Exact text from the filing

On May 1, 2023, Brixmor Property Group Inc. (the “Company”) issued a press release announcing its financial results and Supplemental Disclosure pertaining to its operations for the first quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001581068-23-000040

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