NYSE$CBL
CBL & Associates Properties Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong Q3 2023 results driven by same-center NOI increase and occupancy gains.
CBL Properties announced solid results for the third quarter ended September 30, 2023, with same-center NOI increasing by 0.4% and portfolio occupancy rising by 30 basis points to 90.8%. The company anticipates achieving full-year results near the mid-point of its 2023 FFO, as adjusted, per share, and same-center NOI guidance ranges.
- The limited guaranty provided by the Operating Partnership on the Secured Term Loan had been eliminated and the loan became fully non-recourse.
- Same-center NOI increased 0.4% during the third quarter 2023 as compared with the prior-year quarter.
- FFO, as adjusted, per share was $1.60 for the third quarter 2023.
- Portfolio occupancy increased 30 basis points to 90.8% as of September 30, 2023, compared with portfolio occupancy of 90.5% as of September 30, 2022.
Headline financials
Revenue & EPS history
CBL & Associates · Revenue · Quarterly
$129M
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 anticipates achieving full-year results near the mid-point of the FFO, as adjusted and same-center NOI guidance ranges.
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 Q3 2023
+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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