SLG Earnings Prediction
The chart below shows how SLG performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SLG sees a -3.88% change in stock price 10 days leading up to the earnings, and a -1.19% change 10 days following the report. On the earnings day itself, the stock moves by +0.76%. This data can give you a slight idea of what to expect for the next quarter's release.
SLG Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
245.88M
-16.89%
7.05%
Gross Margin
29.52%
78.26%
26.26%
Operating Margin
--
--
--
Net Margin
7.78%
114.38%
-293.05%
EPS
0.13
105.20%
-161.90%
No Data Available
SLG Earnings Analysis
SL Green Realty Corp Corporation (SLG.N) Earnings Conference Call
Positive
Record Leasing Performance: Finished the year strong with 188 individual leasing deals, totaling 3,600,000 square feet, marking the company's 3rd highest leasing year ever.
Strong Office Space Demand: Ended the year with 92.5% occupancy and projected over 93% leased occupancy in the coming year, indicating strong demand for office space.
Strong Leasing Activity: Leased 250,000 square feet from a pipeline of 900,000 square feet in just 7 weeks since the investor conference, demonstrating robust leasing activity.
Normalized FFO Exceeds Expectations: Achieved a normalized FFO of $4.95 for Q4, exceeding expectations by $0.09, driven by higher property performance and incremental fee income.
Visitor Attraction Success: Summit 1 Vanderbilt attracted over 6,000,000 visitors since opening, contributing significant profits at the building level, showcasing the success of hospitality initiatives.
Negative
Occupancy Trends Analysis: Leased occupancy increased to 92.5%, but financial occupancy decreased sequentially, indicating a potential issue with tenant retention and space utilization.
Leasing Success, NOI Challenges: Despite a strong leasing year with 3,600,000 square feet leased, the company faced move-outs in Q4 that negatively impacted same-store NOI guidance for 2025.
Capital Expenditures Increase: The company reported a significant increase in capital expenditures, with $88 million allocated for speculative projects, which may strain cash flow and limit future distributions.
Migrant Crisis Economic Impact: The ongoing migrant crisis has led to the city spending $3 billion to $4 billion annually, which could impact local economic conditions and tenant demand for office space.
Office Space Conversion Impact: The company is tracking 15 million square feet of office space being converted to residential, which could further reduce available office inventory and impact future leasing opportunities.
SLG FAQs
How does SLG typically perform around its earnings report dates?
Is SL Green Realty Corp (SLG) Q4 2024 Earnings Call Summary positive or negative?
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SLG Earning Call Sentiment
Earnings call transcript: SL Green Realty Q4 2024 beats EPS expectations
SLG.N
-0.93%Positive
The earnings call reveals strong financial performance, with Q4 FFO exceeding expectations and a robust leasing pipeline. Despite concerns about debt market conditions and office-residential conversions, the company is optimistic about occupancy and leasing growth. The positive outlook is bolstered by the announcement of a significant debt fund and successful visitor numbers at Summit 1 Vanderbilt. While the shareholder return plan lacks specifics, the dividend is covered for the year. Given the market cap, these factors collectively suggest a positive stock price movement (2% to 8%) over the next two weeks.
