NASDAQ$PECO
Phillips Edison & Company Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Phillips Edison reported strong Q3 2022 results, driven by same-center NOI growth and record occupancy. The company raised its full-year guidance for the third consecutive quarter.
Phillips Edison & Company reported net income attributable to stockholders of $11.0 million, or $0.09 per diluted share, for the three months ended September 30, 2022. Nareit FFO totaled $72.0 million, or $0.55 per diluted share and Core FFO totaled $76.6 million, or $0.58 per diluted share. Same-center NOI increased 4.3% versus the third quarter ended September 30, 2021 and leased portfolio occupancy as of September 30, 2022 increased to a record-high 97.1%.
- Nareit FFO totaled $72.0 million, or $0.55 per diluted share
- Core FFO totaled $76.6 million, or $0.58 per diluted share
- Same-center NOI increased 4.3% versus the third quarter ended September 30, 2021
- Leased portfolio occupancy as of September 30, 2022 increased to a record-high 97.1%
Headline financials
Revenue & EPS history
Phillips Edison · Revenue · Quarterly
$146M
Revenue by segment
Phillips Edison · $146M total across 3 segments · Q3 2022
- Rental Income$143M+10.9%98.1%
- Fees and Management Income$2.08M-14.5%1.4%
- Other Property Income$716K-33.3%0.5%
Forward guidance
PECO has updated earnings guidance for the year ending December 31, 2022 to reflect strong property results from record occupancy and leasing spreads to date and lower than expected corporate and general and administrative expenses.
Tailwinds
- Strong property results from record occupancy
- Strong leasing spreads to date
- Lower than expected corporate and general and administrative expenses
- Net income per share guidance updated to $0.36 - $0.39
- Core FFO per share guidance updated to $2.22 - $2.26
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 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 |
|---|---|---|---|---|
| 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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