Equity One Earnings: Everything You Must Know Now

Equity One Inc. (NYSE:EQY) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Equity One Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 10.71% to $0.31 in the quarter versus EPS of $0.28 in the year-earlier quarter.

Revenue: Rose 11.6% to $84.67 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Equity One Inc. reported adjusted EPS income of $0.31 per share. By that measure, the company beat the mean analyst estimate of $0.30. It missed the average revenue estimate of $85.25 million.

Quoting Management: “We are very pleased with our results this quarter. Our upgraded portfolio has produced 3% or better same property NOI growth for four consecutive quarters, and our earnings growth is benefiting from our development and redevelopment projects, our acquisitions, and reductions in general and administrative expenses. We continue to make substantial progress on our capital recycling plan to dispose of non-core assets with approximately $253 million of properties currently sold or under executed contracts,” said Jeff Olson, CEO.

Key Stats (on next page)…

EPS decreased 3.13% from $0.32 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 $0.30 and has not changed. For the current year, the average estimate has moved up from a profit of $1.19 to a profit of $1.21 over the last ninety days.

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