Elme Communities Q1 2024 FFO $0.23 Beats $0.22 Estimate, Sales $59.513M Beat $58.792M Estimate
Portfolio Pulse from Benzinga Newsdesk
Elme Communities (NYSE:ELME) reported Q1 2024 FFO of $0.23 per share, surpassing the $0.22 estimate, and sales of $59.513M, exceeding the $58.792M forecast. This represents a 4.17% decrease in earnings per share but a 6.64% increase in sales compared to the same period last year.
May 01, 2024 | 9:44 pm
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POSITIVE IMPACT
Elme Communities reported higher than expected Q1 2024 FFO and sales, with a slight decrease in earnings per share compared to last year.
The positive earnings and sales report from Elme Communities, especially beating the analyst consensus estimates, is likely to instill investor confidence and could lead to a short-term positive impact on the stock price. The slight decrease in earnings per share compared to the previous year might temper the positive reaction slightly, but the overall beat on both top and bottom lines suggests a strong financial performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100