NYSE$SLG
SL Green Realty Corp. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported a net loss and FFO, signed Manhattan office leases, and increased 2024 earnings guidance.
SL Green Realty Corp. reported a net loss of $2.45 per share for Q4 2023, compared to a net loss of $1.01 per share for the same period in 2022. FFO was $0.72 per share for Q4 2023. The company signed 26 Manhattan office leases covering 505,152 square feet. They are increasing their 2024 earnings guidance ranges for FFO per share and net income per share.
- Net loss attributable to common stockholders was $2.45 per share for Q4 2023.
- FFO was $0.72 per share for Q4 2023, or $1.14 per share before non-recurring charges.
- Signed 26 Manhattan office leases covering 505,152 square feet in Q4 2023.
- Increased 2024 earnings guidance ranges for FFO per share to $5.90 to $6.20 and net income per share to $2.73 to $3.03.
Headline financials
Revenue & EPS history
SL Green · Revenue · Quarterly
$132M
Revenue by segment
SL Green · $221M total across 4 segments · Q2 2023
- Rental Revenue$166M+21.4%74.9%
- Other Income$26M+0.8%11.8%
- Escalation & Reimbursements$20.3M+8.3%9.2%
- Investment Income$9.1M-55.4%4.1%
Forward guidance
The Company is increasing its earnings guidance ranges for the year ending December 31, 2024.
Tailwinds
- FFO per share of $5.90 to $6.20
- Increase of $1.00 per share at the midpoint
- Net income per share of $2.73 to $3.03
- Increase of $1.38 per share at the midpoint
- Reflect incremental gains on discounted debt extinguishment
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 2023
-0.5%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.0%
Avg return
30 days after
46%
32 / 69 earnings
Positive
+11.7%
Q2 2011
Best reaction
-12.4%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.0% | +5.4% | +3.9% | |
| Q4 2025 | +2.3% | -3.2% | -15.4% | |
| Q3 2025 | -6.2% | -7.9% | -16.0% | |
| Q2 2025 | -0.4% | +0.7% | +20.6% | |
| Q1 2025 | +0.2% | +1.3% | +12.4% | |
| Q4 2024 | -2.1% | -4.4% | -6.6% | |
| Q3 2024 | +4.8% | +7.1% | +5.4% | |
| Q2 2024 | -3.9% | -2.1% | +0.7% | |
| Q1 2024 | +0.4% | +5.1% | +9.7% | |
| Q4 2023 | +2.8% | +4.9% | +1.9% | |
| Q3 2023 | -12.4% | -14.6% | -5.7% | |
| Q2 2023 | -1.2% | +6.5% | -5.2% | |
| Q1 2023 | +1.6% | -1.4% | -8.0% | |
| Q4 2022 | +1.0% | +6.6% | -3.2% | |
| Q3 2022 | -3.9% | -3.5% | +1.8% | |
| Q2 2022 | -1.6% | +0.1% | -0.4% | |
| Q1 2022 | +0.7% | +0.4% | -19.0% | |
| Q4 2021 | -5.5% | -2.1% | +8.4% | |
| Q3 2021 | +0.1% | +0.1% | +0.4% | |
| Q2 2021 | -2.7% | -2.7% | -8.7% | |
| Q1 2021 | -0.8% | +3.4% | +8.9% | |
| Q4 2020 | +3.1% | +0.7% | +5.6% | |
| Q3 2020 | -1.8% | -10.1% | +25.9% | |
| Q2 2020 | -0.1% | -2.2% | -1.6% | |
| Q1 2020 | +1.9% | +5.9% | -17.9% | |
| Q4 2019 | +1.9% | +0.3% | +1.1% | |
| Q3 2019 | -1.0% | -0.6% | +5.2% | |
| Q2 2019 | +1.9% | -1.8% | -3.3% | |
| Q1 2019 | -0.3% | -0.3% | -0.4% | |
| Q4 2018 | -2.3% | +1.5% | +4.5% | |
| Q3 2018 | -0.1% | -0.9% | +2.3% | |
| Q2 2018 | +1.4% | -0.6% | +5.6% | |
| Q1 2018 | -0.0% | -0.9% | -2.9% | |
| Q4 2017 | -0.7% | +1.4% | +0.5% | |
| Q3 2017 | -3.3% | -4.0% | -1.1% | |
| Q2 2017 | -2.1% | -1.3% | -6.6% | |
| Q1 2017 | -1.6% | -1.4% | -5.8% | |
| Q4 2016 | +0.6% | -0.3% | +2.2% | |
| Q3 2016 | -0.8% | -3.3% | -1.8% | |
| Q2 2016 | +2.0% | +4.3% | +4.1% | |
| Q1 2016 | +2.8% | — | — | |
| Q4 2015 | -9.5% | — | — | |
| Q3 2015 | +0.8% | — | — | |
| Q2 2015 | -1.6% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | +1.7% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | +1.1% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | +1.7% | — | — | |
| Q2 2013 | -2.8% | — | — | |
| Q1 2013 | +2.2% | — | — | |
| Q4 2012 | -1.8% | — | — | |
| Q3 2012 | -2.7% | — | — | |
| Q2 2012 | +1.9% | — | — | |
| Q1 2012 | +0.2% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q3 2011 | -4.9% | — | — | |
| Q2 2011 | +11.7% | — | — | |
| Q1 2010 | +1.0% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q4 2008 | +1.1% | — | — | |
| Q3 2009 | -4.5% | — | — | |
| Q3 2010 | -4.5% | — | — | |
| Q4 2009 | -1.7% | — | — | |
| Q2 2010 | -1.7% | — | — | |
| Q2 2009 | -1.7% | — | — |
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