NYSE$EGP
EastGroup Properties Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
EastGroup reported solid and consistent quarterly results with growth in FFO per share and strong performance in key operational metrics.
EastGroup Properties announced its Q3 2022 results, highlighting a 14.2% increase in Funds From Operations (FFO) per share, a net income of $0.87 per diluted share, and strong same property net operating income growth. The company also focused on strategic capital allocation and maintaining a strong balance sheet amidst global economic uncertainty.
- Net income attributable to common stockholders was $0.87 per diluted share, compared to $0.76 per diluted share for Q3 2021.
- Funds from Operations (FFO) reached $1.77 per share, a 14.2% increase compared to $1.55 per share in Q3 2021.
- Same Property Net Operating Income (excluding income from lease terminations) increased by 8.7% on a cash basis.
- The operating portfolio was 99.0% leased and 98.5% occupied as of September 30, 2022.
Headline financials
Revenue & EPS history
EastGroup · Revenue · Quarterly
$126M
Forward guidance
EastGroup estimates its EPS for 2022 to be in the range of $4.25 to $4.29 and FFO per share to be in the range of $6.91 to $6.95.
Tailwinds
- FFO per share is projected to increase over the prior year.
- Same PNOI growth is expected on a cash basis.
- Average month-end occupancy is anticipated to remain high.
- Development starts are planned for a significant square footage.
- Unsecured debt closings are projected with a weighted average interest rate.
Headwinds
- Projections are based on management's current beliefs and assumptions.
- There are known and unknown risks and uncertainties associated with these projections.
- The company assumes no obligation to update publicly any forward-looking statements.
- Economic conditions could impact the actual results.
- Changes in interest rates and the ability to raise equity capital could affect performance.
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
-0.2%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+0.9%
Avg return
30 days after
55%
38 / 69 earnings
Positive
+7.8%
Q2 2020
Best reaction
-12.4%
Q1 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | +0.7% | +2.1% | |
| Q4 2025 | +2.9% | +4.9% | +2.7% | |
| Q3 2025 | -1.0% | -3.0% | +0.2% | |
| Q2 2025 | +0.6% | +1.9% | +3.1% | |
| Q1 2025 | +1.6% | +1.6% | +2.7% | |
| Q4 2024 | +1.5% | +4.0% | +7.2% | |
| Q3 2024 | -0.9% | -2.1% | -4.6% | |
| Q2 2024 | -3.1% | -2.2% | -3.0% | |
| Q1 2024 | -3.3% | -4.5% | -1.5% | |
| Q4 2023 | +2.1% | +2.3% | +0.0% | |
| Q3 2023 | +1.8% | +1.6% | +11.1% | |
| Q2 2023 | -0.7% | -5.4% | -4.5% | |
| Q1 2023 | -2.2% | +0.2% | -3.9% | |
| Q4 2022 | -0.8% | -2.5% | -5.5% | |
| Q3 2022 | +5.3% | +8.2% | +8.2% | |
| Q2 2022 | -0.5% | +3.4% | +4.4% | |
| Q1 2022 | -1.8% | -8.9% | -23.2% | |
| Q4 2021 | +2.9% | -1.9% | -3.1% | |
| Q3 2021 | +1.6% | +2.7% | +8.9% | |
| Q2 2021 | -0.0% | +0.2% | -2.7% | |
| Q1 2021 | +0.7% | +1.5% | +0.4% | |
| Q4 2020 | -0.6% | +0.2% | -4.4% | |
| Q3 2020 | -2.0% | -1.9% | +1.7% | |
| Q2 2020 | +7.8% | +6.9% | +9.2% | |
| Q1 2020 | -7.9% | -5.5% | +4.7% | |
| Q4 2019 | +0.6% | +2.0% | -4.3% | |
| Q3 2019 | +4.4% | +3.9% | +3.2% | |
| Q2 2019 | +1.6% | +2.6% | +3.4% | |
| Q1 2019 | +0.8% | +2.0% | +2.4% | |
| Q4 2018 | +0.9% | +1.8% | +0.9% | |
| Q3 2018 | +2.1% | +1.9% | +6.8% | |
| Q2 2018 | -2.2% | -2.8% | +4.4% | |
| Q1 2018 | -0.5% | +0.7% | +5.3% | |
| Q4 2017 | +1.8% | -3.2% | -4.4% | |
| Q3 2017 | -0.8% | -3.0% | +1.1% | |
| Q2 2017 | +2.7% | +2.4% | +2.1% | |
| Q1 2017 | +1.4% | +1.2% | +3.1% | |
| Q4 2016 | -2.3% | -0.7% | +4.8% | |
| Q3 2016 | -0.0% | +0.5% | -4.8% | |
| Q2 2016 | -0.7% | +0.1% | +1.0% | |
| Q1 2016 | -3.4% | — | — | |
| Q4 2015 | -2.8% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -1.4% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | +0.5% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q4 2013 | -1.4% | — | — | |
| Q3 2013 | +2.4% | — | — | |
| Q2 2013 | +3.4% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2012 | -1.4% | — | — | |
| Q2 2012 | -3.4% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2008 | +0.8% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q3 2011 | -1.2% | — | — | |
| Q2 2011 | -12.4% | — | — | |
| Q1 2010 | -12.4% | — | — | |
| Q1 2011 | +0.7% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q3 2010 | +0.2% | — | — | |
| Q3 2009 | +0.2% | — | — | |
| Q2 2009 | +1.1% | — | — | |
| Q4 2009 | +1.1% | — | — | |
| Q2 2010 | +1.1% | — | — |
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