SL Green Realty Earnings: Here’s Why the Stock is Rising Now

SL Green Realty Corp. (NYSE:SLG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.45%.

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SL Green Realty Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 5.45% to $1.16 in the quarter versus EPS of $1.10 in the year-earlier quarter.

Revenue: Rose 7.27% to $369.97 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: SL Green Realty Corp. reported adjusted EPS income of $1.16 per share. By that measure, the company missed the mean analyst estimate of $1.22. It beat the average revenue estimate of $314.78 million.

Quoting Management: There was no comment from the management.

Key Stats (on next page)…

Revenue increased 2.47% from $361.05 million in the previous quarter. EPS increased 1.75% from $1.14 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 $1.25 and has not changed. For the current year, the average estimate has moved up from a profit of $4.96 to a profit of $4.98 over the last ninety days.

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