Earnings Call Summary | Phillips Edison(PECO.US) Q1 2024 Earnings Conference
Earnings Call Summary | Phillips Edison(PECO.US) Q1 2024 Earnings Conference
The following is a summary of the Phillips Edison & Company, Inc. (PECO) Q1 2024 Earnings Call Transcript:
以下是菲利普斯·愛迪生公司（PECO）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
PECO saw an increase in same-center Net Operating Income (NOI) by 3.7%.
There was an increase in rental income due to solid property operations.
The company reported a 4.9% increase in NAREIT FFO, with Q1 2024 reaching $80.1 million, or $0.59 per share.
They reported a 4.5% increase in Core FFO, amounting to $81.7 million for Q1 2024, or $0.60 per share.
PECO expects a negative impact of un-expectant reserves and also anticipates headwinds of $0.07 to $0.11 per share for the year due to increasing interest rates.
The financial performance was backed further by the affirmation of the 2024 core FFO guidance range with a midpoint suggesting a 3% YoY growth.
PECO maintained robust debt funding for acquisitions with $570 million liquidity and plans to incorporate long-term fixed-rate debt.
PECO的同中心淨營業收入（NOI）增長了3.7％。
由於穩健的房地產業務，租金收入有所增加。
該公司報告稱，NAREIT FFO增長了4.9％，2024年第一季度達到8,010萬美元，合每股0.59美元。
他們報告稱，核心FFO增長了4.5％，2024年第一季度達到8,170萬美元，合每股0.60美元。
PECO預計，意想不到的儲備將產生負面影響，還預計由於利率上升，今年將出現每股0.07美元至0.11美元的不利影響。
2024年核心FFO指導區間的確認進一步支持了財務業績，中點表明同比增長3％。
PECO維持了強勁的收購債務融資，流動性爲5.7億美元，並計劃納入長期固定利率債務。
Business Progress:
業務進展：
The company acquired two shopping centers and one land parcel for a total cost of $56 million.
In Q1, they completed four projects and offered more than 180,000 sq ft of space to occupants.
Their projected investment in ground-up development annually is $40 million to $50 million.
They anticipate net volume of acquisitions for the year to fall within $200 million to $300 million.
PECO reported effective expense management that resulted in increased NOI margin and a highly successful leasing effort for anchor and in-line occupancy.
They expect to raise their in-line occupancy by 100 to 150 basis points in the future.
The company is shifting towards acquiring smaller-format, grocery-anchored products and plans to maintain a robust balance sheet without exceeding limits.
PECO experienced high demand in restaurants, quick service restaurants, health and beauty, and Medtail sectors.
A strategic shift was made towards reclaiming spaces from near-insolvent tenants and mark them to market, with a forecast of top-line growth.
該公司收購了兩個購物中心和一塊地塊，總成本爲5600萬美元。
在第一季度，他們完成了四個項目，爲居住者提供了超過18萬平方英尺的空間。
他們預計每年在基礎開發方面的投資爲4000萬至5000萬美元。
他們預計，今年的淨收購量將在2億美元至3億美元之間。
PECO報告了有效的費用管理，這提高了NOI利潤率，並取得了非常成功的錨和直線租用租賃工作。
他們預計將來將在線入住率提高100至150個點子。
該公司正轉向收購規模更小、以雜貨爲主的產品，並計劃在不超過限額的情況下保持穩健的資產負債表。
PECO在餐廳、快餐店、健康和美容以及Medtail領域需求量很大。
戰略轉向從近乎破產的租戶手中收回空間並將其推向市場，預計收入將增長。
More details: Phillips Edison IR
更多詳情： 菲利普斯·愛迪生 IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。