Brookfield Properties Earnings: Everything You Must Know Now

Brookfield Properties Corporation (NYSE:BPO) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Brookfield Properties Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 6.67% to $0.28 in the quarter versus EPS of $0.30 in the year-earlier quarter.

Revenue: Decreased 24.83% to $569 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Brookfield Properties Corporation reported adjusted EPS income of $0.28 per share. By that measure, the company missed the mean analyst estimate of $0.30. It missed the average revenue estimate of $602.71 million.

Quoting Management: “The second quarter of 2013 marked a new phase of growth for Brookfield Office Properties as we announced the proposed acquisition of the MPG portfolio in Los Angeles and advanced the construction of the second tower at Brookfield Place Perth,” said Dennis Friedrich, chief executive officer of Brookfield Office Properties.

Key Stats (on next page)…

Revenue decreased 28.7% from $798 million in the previous quarter. EPS decreased 15.15% from $0.33 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.31 and has not changed. For the current year, the average estimate has moved up from a profit of $1.16 to a profit of $1.18 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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