NASDAQ$PECO
Phillips Edison & Company Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported a net loss of $12.8 million and Core FFO decreased 20.3% to $48.8 million.
Phillips Edison & Company reported a net loss of $12.8 million for the fourth quarter of 2020. Rent and recovery collections totaled over 95% of monthly billings. Leased portfolio occupancy totaled 94.7%. Core funds from operations (“Core FFO”) decreased 20.3% to $48.8 million.
- Same-center net operating income (“NOI”) decreased 9.6% to $79.0 million.
- Rent and recovery collections totaled over 95% of monthly billings for the quarter.
- Leased portfolio occupancy totaled 94.7%, a decrease from 95.4% at December 31, 2019
- Core funds from operations (“Core FFO”) decreased 20.3% to $48.8 million
Headline financials
Revenue & EPS history
Phillips Edison · Revenue · Quarterly
$121M
Revenue by segment
Phillips Edison · $121M total across 3 segments · Q4 2020
- Rental Income$118M-10.3%97.8%
- Fees and Management Income$2.31M-11.1%1.9%
- Other Property Income$380K-64.8%0.3%
Forward guidance
Company continues to see positive results, with 94% of monthly rent collected through the first two months of 2021. Business and the overall economy have been recovering from the impact of the pandemic, and company is cautiously optimistic that as vaccine distribution ramps up and COVID-19 cases decline, they will continue to benefit from improving economic conditions.
Tailwinds
- Consistent foot traffic at grocery-anchored shopping centers.
- Added ‘Front Row 2 Go’ parking spots to support Neighbors’ ‘order online, pick up in store’ commerce.
- Active or completed projects to expand outdoor dining, add drive-thrus, and install pick-up windows.
- Over 95% collections for the fourth quarter.
- Reduction in leased occupancy of only 70 basis points.
Headwinds
- Impact of the COVID-19 pandemic.
- Lower rent and recovery collections.
- Increase in rent and recovery billings that are estimated to be uncollectible.
- Decrease in same-center net operating income.
- Fallout from Neighbors who encountered financial difficulty during the pandemic.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports
+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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