EGP Earnings Prediction
The chart below shows how EGP performed 10 days before and after its earnings report, based on data from the past quarters. Typically, EGP sees a -1.92% change in stock price 10 days leading up to the earnings, and a -0.16% change 10 days following the report. On the earnings day itself, the stock moves by +0.68%. This data can give you a slight idea of what to expect for the next quarter's release.
EGP Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
164.04M
9.99%
0.72%
Gross Margin
43.40%
-36.52%
-35.65%
Operating Margin
40.79%
0.32%
3.03%
Net Margin
35.76%
-15.96%
5.52%
EPS
1.16
-14.07%
2.65%
No Data Available
EGP Earnings Analysis
Eastgroup Properties Inc Corporation (EGP.N) Earnings Conference Call
Positive
FFO Growth Consistency: Funds from operations (FFO) increased by 5.9% for the fourth quarter and 7.9% for the year, excluding involuntary conversions, demonstrating consistent growth in profitability.
Leasing and Occupancy Success: Year-end leasing reached 97.1% with occupancy at 96.1%, indicating strong demand and effective management of the property portfolio.
Strong Re-leasing Spreads: Quarterly re-leasing spreads were robust at 47% GAAP and 29% cash, with year-end results showing 53% GAAP and cash respectively, reflecting strong pricing power in the market.
Same Store NOI Growth: Cash same store NOI rose 3.4% for the quarter and 5.6% for the year, showcasing the ability to increase revenue despite occupancy challenges.
Strategic Acquisitions Success: The company successfully executed strategic acquisitions, including four fully leased buildings in Dallas and the Southeast Valley of Phoenix, enhancing its portfolio and market presence.
Negative
Occupancy Rate Decline: Average quarterly occupancy decreased by over 200 basis points from Q4 2023, falling to 95.8%.
Same Store NOI Growth: Cash same store NOI rose only 3.4% for the quarter, despite occupancy declines in each period.
Tenant Default Risks: Tenant defaults were contained to a handful of larger customers, but the watchlist remains steady, indicating potential future risks.
Uncollectible Accounts Projection: The company anticipates a typical run rate of approximately 30 basis points of revenue for uncollectible accounts in 2025, reflecting ongoing credit concerns.
Occupancy Rate Stagnation: The occupancy guidance for 2025 is set at 96%, with no expected increase compared to 2024, indicating a stagnation in growth.
EGP FAQs
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EGP Earning Call Sentiment
Earnings call transcript: EastGroup Properties Q4 2024 sees modest EPS beat
EGP.N
1.21%Positive
The earnings call presents a mixed picture: strong FFO growth and financial metrics contrast with challenges like occupancy declines, competitive pressures, and methodical development delays. The Q&A section reveals cautious optimism, with management expecting development demand to rise and tariffs not currently impacting tenant conversations. However, economic uncertainties and tightened acquisition markets weigh on sentiment. The issuance of shares without a repurchase plan further tempers enthusiasm. Overall, the mixed signals and lack of a clear catalyst suggest a neutral stock price movement over the next two weeks.
