Simon Property Group Reports Mixed Q2 Results: EPS Miss, Revenue Beats
Portfolio Pulse from Erica Kollmann
Simon Property Group (NYSE: SPG) reported mixed Q2 results with an EPS miss but a revenue beat. The company reported earnings of $2.90 per share, missing the consensus estimate of $2.94, but revenue of $1.45 billion beat the estimate of $1.3 billion. Occupancy increased to 95.6%, and the company raised its quarterly dividend to $2.05 per share. Full-year FFO guidance was raised to between $12.80 and $12.90.
August 05, 2024 | 9:18 pm
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NEUTRAL IMPACT
Simon Property Group reported mixed Q2 results with an EPS miss but a revenue beat. The company raised its quarterly dividend and increased its full-year FFO guidance.
The mixed results with an EPS miss but a revenue beat create a neutral short-term impact. The raised dividend and increased full-year FFO guidance are positive, but the after-hours price drop indicates investor uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100