NYSE$KIM
Kimco Realty Corp · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Kimco Realty experienced a net loss but achieved significant occupancy gains, driven by strong leasing execution and strategic asset monetization.
Kimco Realty reported a net loss of ($56.1) million for Q4 2022, impacted by a mark-to-market reduction on marketable securities and an increase in income tax provision. However, the company achieved strong occupancy gains, leasing 2.5 million square feet during the quarter, and realized proceeds of $301.1 million from the sale of Albertsons shares.
- Pro-rata portfolio occupancy increased by 130 basis points year-over-year to 95.7%.
- Pro-rata anchor occupancy increased sequentially by 20 basis points to 98.0%, and small shop occupancy increased by 80 basis points to 90.0%.
- Cash rent spreads for new leases on comparable spaces grew by 30.4%.
- Same-Property Net Operating Income grew by 1.9% compared to the same period last year.
Headline financials
Revenue & EPS history
Kimco · Revenue · Quarterly
$440M
Revenue by segment
Kimco · $440M total across 2 segments · Q4 2022
- Rental Properties, Net$436M+3.7%99.1%
- Management and Other Fee Income$3.96M-6.9%0.9%
Forward guidance
Kimco Realty provided its initial full year 2023 outlook, projecting net income per diluted share between $0.93 and $0.97 and FFO per diluted share between $1.53 and $1.57.
Tailwinds
- Same Property NOI growth: 1.0% to 2.0%
- Lease termination income: $14 million to $16 million
- Total property acquisitions (including structured investments), net of dispositions: $100 million
- Liquidity of $2.1 billion
- Strong leasing execution
Headwinds
- Credit loss: (0.75%) to (1.25%) of total pro-rata rental revenues
- No income attributable to collection of prior period accounts receivables from cash basis tenants
- General adverse economic and local real estate conditions
- Inability of major tenants to continue paying their rent obligations
- Potential changes in governmental laws and regulations
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 Q4 2022
+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
| Quarter | Report date | Reaction (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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