Brixmor Q4 Revenue +7.7% to $353.8M, EPS $0.58 and FFO Beat Estimates
Brixmor posted Q4 revenue of $353.75 million, up 7.7% year-over-year and beating estimates by 1.6%, with diluted EPS rising to $0.58 from $0.27 last year versus a $0.57 consensus. Q4 funds from operations came in at $0.58 per share, topping the $0.57 estimate and reflecting a 9.4% gain over $0.53 a year ago.
1. Q4 Financial Highlights
Brixmor reported December-quarter revenue of $353.75 million, up 7.7% year-over-year, exceeding the $348.23 million consensus by 1.6%. Diluted earnings per share rose to $0.58 from $0.27 a year ago, outpacing the $0.57 estimate with a 2.3% surprise.
2. Segment Performance
Rental income reached $352.21 million, a 7.3% increase versus a $347.18 million analyst projection, while other revenues surged 1,691.9% to $1.54 million, far above the $0.42 million forecast, driven by non-rental operations.
3. FFO Performance
Funds from operations were $0.58 per share, surpassing the $0.57 estimate and up from $0.53 a year earlier. This marked the third FFO beat in four quarters, reinforcing resilience in cash flow generation.
4. Market Reaction and Outlook
Shares have risen 10.3% over the past month compared with a 0.2% decline in the S&P 500, and are up 8% year-to-date versus the index’s 1.3% gain. Near-term performance will hinge on FFO guidance and management’s commentary on future leasing conditions.