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SL Green (SLG) Reports Q2 Earnings: What Key Metrics Have to Say

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For the quarter ended June 2024, SL Green (SLG - Free Report) reported revenue of $135.56 million, down 18.2% over the same period last year. EPS came in at $2.05, compared to -$5.63 in the year-ago quarter.

The reported revenue represents a surprise of +3.31% over the Zacks Consensus Estimate of $131.22 million. With the consensus EPS estimate being $1.62, the EPS surprise was +26.54%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how SL Green performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Rental revenue, net: $135.56 million versus the six-analyst average estimate of $144.65 million. The reported number represents a year-over-year change of -18.2%.
  • Revenues- Investment income: $6.19 million compared to the $9.96 million average estimate based on five analysts. The reported number represents a change of -32% year over year.
  • Revenues- Other income: $33.40 million versus $21.82 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +28.3% change.
  • Net Earnings Per Share (Diluted): -$0.04 versus -$0.05 estimated by five analysts on average.
View all Key Company Metrics for SL Green here>>>

Shares of SL Green have returned +10.2% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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