EastGroup Props Q1 2024 FFO $1.98 Misses $2.01 Estimate, Sales $154.224M Beat $152.108M Estimate
Portfolio Pulse from Benzinga Newsdesk
EastGroup Props (NYSE:EGP) reported Q1 2024 FFO of $1.98 per share, missing the $2.01 estimate, but saw sales of $154.224M, beating the $152.108M estimate. This represents a 7.61% increase in earnings and a 14.22% increase in sales from the same period last year.
April 23, 2024 | 8:14 pm
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NEUTRAL IMPACT
EastGroup Props reported a slight miss in Q1 2024 FFO per share but exceeded sales expectations, indicating a mixed financial performance.
The slight miss in FFO per share might concern some investors, potentially putting downward pressure on the stock. However, the beat on sales and year-over-year growth in both earnings and sales could offset concerns and suggest underlying strength in the company's operations. The mixed results make the short-term impact on the stock price uncertain, hence a neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100