General Growth Properties Second Quarter Earnings Sneak Peek

General Growth Properties Inc (NYSE:GGP) will unveil its latest earnings on Wednesday, August 1, 2012. General Growth Properties is a real estate investment trust, which through its subsidiaries and affiliates operates, manages, develops and acquires retail and other rental properties, shopping centers, which are located throughout the United States.

General Growth Properties Inc Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 21 cents per share, a rise of 5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 20 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 21 cents during the last month. For the year, analysts are projecting profit of 94 cents per share, a decline of 1.1% from last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of 22 cents per share versus a mean estimate of profit of 21 cents per share.

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A Look Back: In the first quarter, the company swung to a loss of $197.6 million (21 cents a share) from a profit of $5.7 million (0 cents) a year earlier, but beat analyst expectations. Revenue fell 38.8% to $469 million from $766.3 million.

Wall St. Revenue Expectations: Analysts are projecting a decline of 10.9% in revenue from the year-earlier quarter to $590.7 million.

Analyst Ratings: There are mostly holds on the stock with six of nine analysts surveyed giving that rating.

Key Stats:

On the top line, the company is looking to get back on the right track after last quarter’s drop snapped a string of revenue increases. Revenue rose 59.9% in the fourth quarter of the last fiscal year and 32.9% in the third quarter of the last fiscal year before falling in the first quarter.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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