NYSE$KIM

Kimco Realty Corp · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

Kimco's Q2 2020 earnings were released, highlighting rent collection acceleration, gains from Albertsons investment monetization, and strong financial capacity.

Kimco Realty reported a significant increase in net income available to common shareholders for Q2 2020, primarily driven by gains from its investment in Albertsons Companies Inc. Rent collections improved throughout the quarter, and the company maintained a strong liquidity position.

  • Pro-rata portfolio occupancy was reported at 95.6%, with anchor occupancy at 98.2%.
  • 52 new leases were signed, generating pro-rata cash rental rate leasing spreads of 22.9%.
  • Approximately 70% of rents were collected for the second quarter.
  • Gains of $715.5 million were recognized from the company’s investment in Albertsons Companies Inc.

Headline financials

Total Revenue

$239M

Previous: $285M-16.1%
EPS (adj)

$0.24

Previous: $0.36-33.3%
Same Property NOI Growth

-13.6%

No prior period
Pro-Rata Anchor Occupancy

98.2%

No prior period
Capital Expenditures

-$22.4M

Previous: $0.00
Free Cash Flow

$726M

Previous: $101M+618.2%
Net Income

$748M

Previous: $101M+640.3%
Operating Income

$64.1M

Previous: $107M-40.3%
Gross Profit

$239M

Previous: $282M-15.3%
Cash & Equivalents

$202M

Previous: $114M+76.9%
Total Assets

$11.6B

Previous: $11B+4.7%
Stock-Based Comp

$5.58M

Previous: $4.81M+16.0%

Revenue & EPS history

Kimco · Revenue · Quarterly

$239M

Q2 2020-16.1%vs Q2 2019
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Kimco · $239M total across 2 segments · Q2 2020

  • Rental Properties, Net
    $236M
  • Management and Other Fee Income
    $2.96M

Forward guidance

Kimco did not provide specific forward guidance in this earnings report.

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 Q2 2020

Historical avgQ2 2020

+0.4%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+2.7%

Avg return

30 days after

51%

37 / 72 earnings

Positive

+11.0%

Q1 2018

Best reaction

-11.8%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.8%-0.4%+1.9%
Q4 2025+1.5%+5.3%+4.2%
Q3 2025-2.0%-4.5%-3.5%
Q1 2025+4.9%+3.2%+6.4%
Q4 2024-0.1%-0.5%-4.4%
Q3 2024-0.8%+2.6%+6.5%
Q2 2024+0.9%+0.0%+7.0%
Q1 2024+3.2%+2.6%+4.6%
Q4 2023-0.4%-3.3%-3.4%
Q3 2023+3.0%+9.5%+14.2%
Q2 2023-2.7%-2.7%-9.6%
Q1 2023+2.8%-0.7%-3.2%
Q4 2022-2.2%-3.3%-15.3%
Q3 2022+3.0%+5.0%+10.8%
Q2 2022+2.8%-0.6%+1.0%
Q1 2022+0.4%-0.8%-5.9%
Q4 2021-3.0%-3.9%-4.0%
Q3 2021-0.4%+0.0%-2.3%
Q2 2021+2.7%+0.0%+5.5%
Q1 2021+0.5%+1.0%+2.0%
Q4 2020+2.3%+0.0%+11.7%
Q3 2020-4.4%+31.8%+45.5%
Q2 2020+5.5%+8.3%+10.7%
Q1 2020+0.4%-12.8%+51.4%
Q4 2019-5.0%-3.1%-13.5%
Q3 2019-0.5%-0.7%+0.2%
Q2 2019-0.3%+3.0%-3.5%
Q1 2019+4.6%+3.2%+0.0%
Q4 2018-1.0%+0.5%-0.1%
Q3 2018+4.3%+9.3%+3.4%
Q2 2018-4.1%-0.1%+2.6%
Q1 2018+11.0%+11.6%+13.2%
Q4 2017+6.6%+6.9%+2.0%
Q3 2017-2.1%-1.6%+0.4%
Q2 2017+6.9%+2.6%+0.9%
Q1 2017-4.8%-5.9%-17.0%
Q4 2016+1.1%-1.1%-4.8%
Q3 2016-3.5%-5.1%-3.3%
Q2 2016+1.9%+2.9%-5.4%
Q1 2016-0.5%
Q4 2015+1.6%
Q3 2015-0.8%
Q2 2015+0.7%
Q1 2015+1.6%
Q4 2014-3.5%
Q3 2014+0.9%
Q2 2014-2.4%
Q1 2014+0.2%
Q4 2013+1.5%
Q3 2013+0.2%
Q2 2013-0.3%
Q1 2013+1.6%
Q4 2012+1.0%
Q3 2012-0.6%
Q2 2012+2.2%
Q1 2012-1.2%
Q4 2011-1.4%
Q3 2011-1.3%
Q2 2011-11.8%
Q1 2011-0.4%
Q4 2010-2.0%
Q3 2010-3.3%
Q2 2010-0.4%
Q1 2009+8.6%
Q1 2010-1.9%
Q4 2007+0.9%
Q4 2009+0.9%
Q3 2008-4.2%
Q3 2009-4.2%
Q2 2008+5.9%
Q4 2008+5.9%
Q2 2009+5.9%

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