NASDAQ$PECO
Phillips Edison & Company Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported an increase in net income and same-center NOI, with leased portfolio occupancy reaching a record high.
Phillips Edison & Company reported Q4 2022 results, featuring a net income of $13.7 million, or $0.12 per diluted share. Nareit FFO totaled $70.6 million, or $0.54 per diluted share and Core FFO totaled $74.3 million, or $0.56 per diluted share. Same-center NOI increased by 2.8% and leased portfolio occupancy reached a record 97.4%.
- Nareit FFO totaled $70.6 million, or $0.54 per diluted share.
- Core FFO totaled $74.3 million, or $0.56 per diluted share.
- Same-center NOI increased 2.8% versus the three months ended December 31, 2021.
- Leased portfolio occupancy increased by 30 basis points over the prior quarter to a record 97.4%
Headline financials
Revenue & EPS history
Phillips Edison · Revenue · Quarterly
$145M
Revenue by segment
Phillips Edison · $145M total across 3 segments · Q4 2022
- Rental Income$142M+6.8%97.7%
- Fees and Management Income$2.22M-31.5%1.5%
- Other Property Income$1.12M+0.7%0.8%
Forward guidance
PECO provided initial guidance for 2023, with net income per share expected to be between $0.47 and $0.52, Nareit FFO per share between $2.23 and $2.29, and Core FFO per share between $2.28 and $2.34. Same-Center NOI growth is projected to be between 3.0% and 4.0%.
Tailwinds
- Net income per share is projected to be between $0.47 and $0.52.
- Nareit FFO per share is expected to range from $2.23 to $2.29.
- Core FFO per share is anticipated to be between $2.28 and $2.34.
- Same-Center NOI growth is forecasted to be between 3.0% and 4.0%.
- The company anticipates net acquisitions between $200 million and $300 million.
Headwinds
- Interest expense, net, is projected to be between $83 million and $89 million.
- G&A expense is expected to be between $44 million and $48 million.
- Non-cash revenue items are projected to be between $15 million and $20 million.
- Adjustments for uncollectibility are expected to be between $3.5 million and $4.5 million.
- Future results could differ materially depending on market conditions
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 Q4 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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