Weingarten Realty Investors (NYSE:WRI) 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.
Weingarten Realty Investors Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.35% to $0.48 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Decreased 0.31% to $131.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Weingarten Realty Investors reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.45. It beat the average revenue estimate of $126.55 million.
Quoting Management: “This was an outstanding quarter by almost every operational measure. Occupancy and rental rate increases continue to drive Same Property NOI, with a strong increase of 3.9% for the quarter. This performance is a testament to the strength of our operating platform as well as the continued transformation of our outstanding portfolio of properties,” said Johnny Hendrix, Executive Vice President and Chief Operating Officer.
Key Stats (on next page)…
Revenue decreased 8.81% from $144.42 million in the previous quarter. EPS increased 4.35% from $0.46 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 $0.46 to a profit $0.47. For the current year, the average estimate is a profit of $1.88, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)