SL Green Realty Earnings: Here’s Why Shares are Down Now

SL Green Realty Corp. (NYSE:SLG) 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. Shares are down 0.13%.

SL Green Realty Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 26.04% to $1.42 in the quarter versus EPS of $1.92 in the year-earlier quarter.

Revenue: Decreased 14.97% to $365.15 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: SL Green Realty Corp. reported adjusted EPS income of $1.42 per share. By that measure, the company beat the mean analyst estimate of $1.26. It beat the average revenue estimate of $288.48 million.

Key Stats (on next page)…

Revenue increased 2.43% from $356.47 million in the previous quarter. EPS increased 22.41% from $1.16 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.24 to a profit $1.26. For the current year, the average estimate has moved up from a profit of $4.98 to a profit of $4.99 over the last ninety days.

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