Compared to Estimates, Simon Property (SPG) Q3 Earnings: A Look at Key Metrics

Zacks Equity Research
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Simon Property (SPG) reported $1.48 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 4.9%. EPS of $2.84 for the same period compares to $1.82 a year ago.

The reported revenue represents a surprise of +1.28% over the Zacks Consensus Estimate of $1.46 billion. With the consensus EPS estimate being $3.00, the EPS surprise was -5.33%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Simon Property performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • U.S. Malls and Premium Outlets - Occupancy - Total Portfolio: 96.2% versus 95.7% estimated by three analysts on average.

  • Revenue- Management fees and other revenues: $33.46 million versus $30.73 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +11.3% change.

  • Revenue- Lease income: $1.34 billion versus the five-analyst average estimate of $1.33 billion. The reported number represents a year-over-year change of +3.2%.

  • Revenue- Other income: $107.43 million compared to the $100.43 million average estimate based on four analysts. The reported number represents a change of +30.8% year over year.

  • Net Earnings Per Share (Diluted): $1.46 versus the six-analyst average estimate of $1.53.

View all Key Company Metrics for Simon Property here>>>

Shares of Simon Property have returned +0.5% over the past month versus the Zacks S&P 500 composite's -1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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