Eastgroup Properties (EGP) Tops Q1 EPS by 8c, Revenues Beat; Offers FY21 EPS Outlook

Eastgroup Properties (NYSE: EGP) reported Q1 EPS of $0.69, $0.08 better than the analyst estimate of $0.61. Revenue for the quarter came in at $97.93 million versus the consensus estimate of $94.59 million.

GUIDANCE:

Eastgroup Properties sees FY 2021 EPS of $2.53-$2.63, versus the consensus of $2.54.

EPS for 2021 is now estimated to be in the range of $2.53 to $2.63. Estimated FFO per share attributable to common stockholders for 2021 is now estimated to be in the range of $5.74 to $5.84. The table below reconciles projected net income attributable to common stockholders to projected FFO. The Company is providing a projection of estimated net income attributable to common stockholders solely to satisfy the disclosure requirements of the U.S. Securities and Exchange Commission.

For earnings history and earnings-related data on Eastgroup Properties (EGP) click here.

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