FR Earnings Prediction
The chart below shows how FR performed 10 days before and after its earnings report, based on data from the past quarters. Typically, FR sees a +0.66% change in stock price 10 days leading up to the earnings, and a +1.06% change 10 days following the report. On the earnings day itself, the stock moves by -0.75%. This data can give you a slight idea of what to expect for the next quarter's release.
FR Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
175.59M
11.64%
4.74%
Gross Margin
47.93%
0.95%
1.40%
Operating Margin
42.06%
1.94%
0.72%
Net Margin
40.12%
-31.18%
-34.18%
EPS
0.52
-22.39%
-30.67%
No Data Available
FR Earnings Analysis
First Industrial Realty Trust Inc Corporation (FR.N) Earnings Conference Call
Positive
Cash Rental Rate Surge: Strong cash rental rate growth on leasing with a 33% increase for leases signed with a 2025 commencement date, and 42% excluding a fixed rate renewal.
Record Cash Run Rate: Achieved a cash run rate that is the second highest in the company's thirty-year history, marking back-to-back years of over fifty percent growth.
Development Lease Success: Signed 4.7 million square feet of development leases in 2024, significantly exceeding the budgeted 2.8 million square feet.
Dividend Increase Announcement: Declared a dividend of 44.5 cents per share, reflecting a 20.3% increase aligned with anticipated cash flow growth.
FFO Growth and Guidance: NAREIT FFO per fully diluted share grew 8.6% to $2.65 for the year, with guidance for 2025 indicating a further 10% growth.
Negative
Industrial Market Vacancy Increase: US industrial market vacancy rose to 6.1% at year-end, a 30 basis point increase from Q3 '24, indicating a weakening demand for industrial space.
Construction Activity Decline: New construction starts in Q4 '24 were 62% lower than the peak in Q3 2022, with only 43 million square feet breaking ground, suggesting a significant slowdown in development activity.
Decline in Lease Demand: Net absorption nationally was only 24 million square feet in Q4, with just 15 million in target markets, reflecting a decline in demand for new leases.
Limited Asset Sales: For 2025, asset sales are expected to be limited to up to $75 million, significantly lower than previous years, indicating a reduction in capital recycling opportunities.
Cash NOI Growth Analysis: Cash same-store NOI growth for 2024 was 8.1%, but this was impacted by the exclusion of accelerated tenant improvement reimbursements, suggesting underlying performance may be weaker than reported.
FR FAQs
How does FR typically perform around its earnings report dates?
Is First Industrial Realty Trust Inc (FR) Q4 2024 Earnings Call Summary positive or negative?
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FR Earning Call Sentiment
First Industrial Realty Trust, Inc. (NYSE:FR) Q4 2024 Earnings Call Transcript
FR.N
-1.37%Positive
The earnings call summary presents a mixed picture. Financial performance shows a positive trend with tightened guidance and strong NOI growth. However, the Q&A reveals concerns about elongated decision-making, potential move-outs, and modest rent growth, which temper the positive aspects. Management's vague responses on critical issues further contribute to uncertainty. The lack of a new partnership or significant positive catalysts, alongside stable but not exceptional financial metrics, suggests a neutral market reaction.
