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Simon Property (SPG) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, Simon Property (SPG - Free Report) reported revenue of $1.46 billion, up 6.5% over the same period last year. EPS came in at $2.90, compared to $1.49 in the year-ago quarter.
The reported revenue represents a surprise of +1.85% over the Zacks Consensus Estimate of $1.43 billion. With the consensus EPS estimate being $2.93, the EPS surprise was -1.02%.
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 Simon Property performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
U.S. Malls and Premium Outlets - Occupancy - Total Portfolio
: 95.6% versus the three-analyst average estimate of 95.5%.
Revenue- Management fees and other revenues
: $33.19 million versus the six-analyst average estimate of $33.02 million. The reported number represents a year-over-year change of -1%.
Revenue- Lease income
: $1.32 billion compared to the $1.31 billion average estimate based on five analysts. The reported number represents a change of +4.8% year over year.
Revenue- Other income
: $109.34 million versus $91.19 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +34.8% change.
Net Earnings Per Share (Diluted)
: $1.51 versus $1.52 estimated by six analysts on average.
Shares of Simon Property have returned +3.4% over the past month versus the Zacks S&P 500 composite's -2.9% 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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Simon Property (SPG) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, Simon Property (SPG - Free Report) reported revenue of $1.46 billion, up 6.5% over the same period last year. EPS came in at $2.90, compared to $1.49 in the year-ago quarter.
The reported revenue represents a surprise of +1.85% over the Zacks Consensus Estimate of $1.43 billion. With the consensus EPS estimate being $2.93, the EPS surprise was -1.02%.
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 Simon Property performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Simon Property here>>>U.S. Malls and Premium Outlets - Occupancy - Total Portfolio
: 95.6% versus the three-analyst average estimate of 95.5%.Revenue- Management fees and other revenues
: $33.19 million versus the six-analyst average estimate of $33.02 million. The reported number represents a year-over-year change of -1%.Revenue- Lease income
: $1.32 billion compared to the $1.31 billion average estimate based on five analysts. The reported number represents a change of +4.8% year over year.Revenue- Other income
: $109.34 million versus $91.19 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +34.8% change.Net Earnings Per Share (Diluted)
: $1.51 versus $1.52 estimated by six analysts on average.Shares of Simon Property have returned +3.4% over the past month versus the Zacks S&P 500 composite's -2.9% 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.