NASDAQ$PECO
Phillips Edison & Company Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Phillips Edison reported second quarter 2022 results, highlighted by a record-high leased portfolio occupancy and increased same-center NOI.
Phillips Edison & Company reported a net income attributable to stockholders of $13.5 million, or $0.12 per diluted share, for the three months ended June 30, 2022. The company achieved a record-high leased portfolio occupancy of 96.8% and increased same-center NOI by 4.3% compared to the second quarter of 2021. Given these accomplishments, the company is raising its guidance for Net Income, Core FFO, and same-center NOI.
- Nareit FFO totaled $71.1 million, or $0.55 per diluted share.
- Core FFO totaled $71.8 million, or $0.56 per diluted share.
- Leased portfolio occupancy as of June 30, 2022 increased to a record-high 96.8%.
- Same-center NOI increased 4.3% versus the second quarter ended June 30, 2021.
Headline financials
Revenue & EPS history
Phillips Edison · Revenue · Quarterly
$143M
Revenue by segment
Phillips Edison · $143M total across 3 segments · Q2 2022
- Rental Income$137M+5.3%96.3%
- Fees and Management Income$4.78M+101.4%3.4%
- Other Property Income$505K+39.9%0.4%
Forward guidance
PECO has updated earnings guidance for the year ending December 31, 2022 to reflect accelerated same-center NOI growth due to favorable leasing activity, favorable bad debt and straight-line rent impacts, the issuance to-date of common shares through the Company’s ATM program, and updated acquisition activity and debt transactions
Tailwinds
- Accelerated same-center NOI growth due to favorable leasing activity
- Favorable bad debt impacts
- Favorable straight-line rent impacts
- The issuance to-date of common shares through the Company’s ATM program
- Net income per share is expected to be between $0.34 - $0.40
Headwinds
- Updated acquisition activity
- Updated debt transactions
- Nareit FFO per share is expected to be between $2.09 - $2.15
- Core FFO per share is expected to be between $2.19 - $2.25
- Acquisitions (net of dispositions) are expected to be between $200 - $300 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2022
+0.3%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.2%
Avg return
30 days after
43%
9 / 21 earnings
Positive
+5.7%
Q2 2021
Best reaction
-4.0%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -0.2% | +2.0% | +3.2% | |
| Q4 2025 | -0.8% | -0.3% | +2.4% | |
| Q3 2025 | +0.6% | -1.0% | +2.5% | |
| Q2 2025 | -0.3% | +0.9% | +5.0% | |
| Q1 2025 | -0.4% | -1.5% | -3.6% | |
| Q3 2024 | -1.9% | +0.4% | +6.3% | |
| Q2 2024 | -0.1% | +5.2% | +7.1% | |
| Q1 2024 | -1.9% | -1.6% | -5.4% | |
| Q4 2023 | +0.7% | -0.7% | +3.6% | |
| Q3 2023 | +0.9% | +2.6% | +3.0% | |
| Q2 2023 | +1.6% | +0.6% | -4.1% | |
| Q1 2023 | -3.0% | -1.8% | -7.4% | |
| Q4 2022 | +2.1% | +3.6% | -4.9% | |
| Q3 2022 | +5.0% | +3.5% | +9.9% | |
| Q2 2022 | +0.4% | +0.9% | -0.4% | |
| Q1 2022 | -4.0% | -8.8% | -1.3% | |
| Q4 2021 | -1.7% | +0.2% | +3.6% | |
| Q3 2021 | +4.4% | +3.4% | +2.0% | |
| Q2 2021 | +5.7% | +8.0% | +7.6% | |
| Q1 2021 | +0.0% | +0.0% | +17.9% | |
| Q4 2020 | +0.0% | +0.0% | +0.0% | |
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| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — |
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