NYSE$CBL
CBL & Associates Properties Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported strong results with same-center NOI increased and leasing activity.
CBL Properties reported a 1.5% increase in same-center NOI and strong leasing activity for the second quarter of 2024. The company executed over 1.0 million square feet of leases and closed on the sale of Layton Hill Malls for $37.125 million.
- CBL reported an increase in same-center NOI of 1.5% for second quarter 2024 compared with the prior-year period, and FFO, as adjusted, per share of $1.73, compared with $1.56 for second quarter 2023.
- Over 1.0 million square feet of leases were executed in second quarter 2024, including comparable leases of approximately 694,000 square feet signed at an 8.8% increase in average rents versus the prior leases including a 6.2% increase in renewal leases signed for malls, lifestyle centers and outlet centers.
- Portfolio occupancy was 88.7% as of June 30, 2024, a 110 basis-point-decline compared with portfolio occupancy of 89.8% as of June 30, 2023.
- Same-center tenant sales per square foot for the second quarter 2024 were essentially flat as compared with the prior-year period.
Headline financials
Revenue & EPS history
CBL & Associates · Revenue · Quarterly
$130M
Revenue by segment
CBL & Associates · $133M total across 2 segments · Q1 2023
- Rental Revenues$130M-3.7%98.2%
- Mgmt/Dev/Leasing Fees$2.43M+37.6%1.8%
Forward guidance
CBL is reiterating its full-year 2024 FFO, as adjusted, guidance and anticipates same-center NOI for full-year 2024 in the range of (1.2)% to 1.4%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q2 2024
+0.3%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-1.4%
Avg return
30 days after
50%
9 / 18 earnings
Positive
+7.0%
Q1 2022
Best reaction
-4.7%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | +4.1% | +10.1% | |
| Q4 2025 | -3.6% | +1.6% | +1.5% | |
| Q3 2025 | +4.2% | +4.2% | +13.6% | |
| Q1 2025 | +0.1% | -2.0% | -4.1% | |
| Q4 2024 | +0.2% | +0.2% | -14.6% | |
| Q3 2024 | -0.1% | -1.2% | +11.6% | |
| Q2 2024 | +2.1% | +3.0% | +2.9% | |
| Q1 2024 | -1.2% | -1.1% | +1.8% | |
| Q4 2023 | -4.7% | -2.7% | -5.6% | |
| Q3 2023 | +1.5% | +6.8% | +9.1% | |
| Q2 2023 | +3.0% | +0.8% | -1.1% | |
| Q1 2023 | -1.1% | -5.1% | +2.0% | |
| Q4 2022 | -2.6% | -4.6% | -9.1% | |
| Q3 2022 | -0.1% | -1.7% | -13.7% | |
| Q2 2022 | -0.5% | -2.9% | -6.4% | |
| Q1 2022 | +7.0% | +2.0% | +0.1% | |
| Q4 2021 | +1.3% | -0.9% | -10.5% | |
| Q3 2021 | -1.1% | -4.9% | -11.9% | |
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