Equity One Inc. Earnings: Net Income Was Light, But Stock Rises
Equity One Inc. (NYSE:EQY) reported a lower net income in second quarter, missing analysts’ estimates. Equity One operates as a self-managed real estate investment trust which mainly acquires, renovates, develops, and manages neighborhood and community shopping centers anchored by leading supermarkets, drug stores, or discount retail store chains.
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Equity One Inc. Earnings Cheat Sheet
Results: Net income for Equity One Inc. fell to $5 million (2 cents per share) vs. $9.1 million (6 cents per share) a year earlier. This is a decline of 45% from the year-earlier quarter.
Revenue: Rose 12.8% to $82.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Equity One Inc. fell short of the mean analyst estimate of 26 cents per share. It beat the average revenue estimate of $78.3 million.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of 29 cents versus a mean estimate of net income of 27 cents per share.
Looking Forward: The average estimate for the third quarter remains unchanged at 27 cents a share. Over the past three months, the average estimate for the fiscal year has climbed from $1.07 per to share to $1.08.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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