CBL & Associates Properties Earnings: Everything You Must Know Now

CBL & Associates Properties Inc. (NYSE:CBL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

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CBL & Associates Properties Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 8.16% to $0.53 in the quarter versus EPS of $0.49 in the year-earlier quarter.

Revenue: Rose 5.33% to $266 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: CBL & Associates Properties Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.51. It beat the average revenue estimate of $260.24 million.

Quoting Management: “The strong operating performance of our market-dominant mall portfolio in the first quarter coupled with the benefits of our new growth platforms have us well on the path towards achieving our 2013 goals,” said Stephen Lebovitz, CBL’s president and chief executive officer. “We are seeing solid improvement in occupancy, NOI, sales and leasing across the portfolio even with the tougher comparison from a year ago. The acquisition of the remaining interest in Kirkwood Mall (Bismarck, ND) also highlights that our focused growth strategy can yield a strong pipeline of profitable investment opportunities in this environment. We will look to build on this momentum throughout the year.”

Key Stats (on next page)…

Revenue decreased 16.87% from $319.97 million in the previous quarter. EPS decreased 14.52% from $0.62 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 $0.52 and has not changed. For the current year, the average estimate has moved up from a profit of $2.18 to a profit of $2.22 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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