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Eastgroup Properties (EGP)
NYSE:EGP
Earnings Data
Report Date
Jul 29, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
1.19Last Year’s EPS
1.14Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Date:Apr 23, 2025
|% Change Since: 5.26%
|Next Earnings Date:Jul 29, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance, with significant growth in FFO and leasing metrics. However, challenges such as decreased occupancy, market uncertainties, and regional difficulties in Southern California were noted. The company remains optimistic with a strategic focus on leasing and financial flexibility.Company Guidance
In the first quarter of 2025, EastGroup Properties reported a robust performance, with funds from operations (FFO) excluding involuntary conversions reaching $2.12 per share, marking a 7.1% increase over the previous year. The company maintained a strong leasing momentum with a quarter-end leasing rate of 97.3% and an occupancy rate of 96.5%, though the average quarterly occupancy of 95.8% was down 170 basis points from Q1 2024. Releasing spreads were 47% on a GAAP basis and 31% in cash, while cash same-store NOI grew by 5.2% despite lower occupancy. The top ten tenants accounted for only 7.1% of rents, indicating a diversified rent roll. The company remains cautious about new investments, projecting $250 million in development starts for the year, mainly in the second half, due to economic uncertainties such as ongoing tariff discussions. EastGroup's strong balance sheet, with a debt-to-total market capitalization ratio of 13.7% and an interest coverage ratio of 15 times, positions it well for potential opportunistic investments.Record FFO Growth
Funds from operations (FFO) excluding involuntary conversions were $2.12 per share, up 7.1% year-over-year, continuing a decade-long trend of growth.
Strong Leasing Performance
Quarter-end leasing was at 97.3% with occupancy at 96.5%, and average quarterly occupancy was 95.8%. Quarterly releasing spreads were 47% GAAP and 31% cash.
Diversified Rent Roll
The top ten tenants now account for just 7.1% of rents, down 70 basis points from the previous year, indicating more diversified income sources.
Refinancing Savings
The company refinanced a $100 million unsecured term loan, reducing the credit spread by 30 basis points, resulting in $1.5 million in savings over five years.
Positive Development Yield
Development yields were strong, with a notable 9% yield on recent completions.
EGP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
EGP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2025 | $160.47 | $162.92 | +1.53% |
Feb 06, 2025 | $172.00 | $173.27 | +0.74% |
Oct 23, 2024 | $178.21 | $175.57 | -1.48% |
Jul 23, 2024 | $185.41 | $180.97 | -2.39% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Eastgroup Properties (EGP) report earnings?
Eastgroup Properties (EGP) is schdueled to report earning on Jul 29, 2025, TBA Not Confirmed.
What is Eastgroup Properties (EGP) earnings time?
Eastgroup Properties (EGP) earnings time is at Jul 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EGP EPS forecast?
EGP EPS forecast for the fiscal quarter 2025 (Q2) is 1.19.