SPG Earnings Prediction
The chart below shows how SPG performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SPG sees a +0.15% change in stock price 10 days leading up to the earnings, and a +2.77% change 10 days following the report. On the earnings day itself, the stock moves by -0.07%. This data can give you a slight idea of what to expect for the next quarter's release.
SPG Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
1.58B
3.59%
6.86%
Gross Margin
82.59%
-0.55%
0.34%
Operating Margin
52.82%
1.85%
1.87%
Net Margin
48.78%
-13.31%
32.12%
EPS
3.71
-8.85%
192.13%
No Data Available
SPG Earnings Analysis
Simon Property Group Inc Corporation (SPG.N) Earnings Conference Call
Positive
Funds from Operations Growth: Record total funds from operation of $4.9 billion or $12.99 per share, with real estate FFO growth of 3.9% year over year to $4.6 billion or $12.24 per share.
Shareholder Cash Dividends: Returned a record of over $3 billion to shareholders in cash dividends, totaling approximately $45 billion paid in dividends since becoming a public company.
Record Leasing Achievement: Achieved record leasing with over 5,500 leases signed for more than 21 million square feet in the year, contributing to a mall and outlet occupancy rate of 96.5%, the highest in eight years.
NOI Growth Analysis: Domestic NOI increased by 4.4% year over year for the quarter and 4.7% for the year, with portfolio NOI growth of 4.5% for the quarter and 4.6% for the year.
Dividend Increase Announcement: Announced a dividend of $2.10 per share for the first quarter, reflecting a year-over-year increase of 7.7%.
Negative
Funds from Operation Decline: Fourth quarter funds from operation decreased slightly to $1,390,000,000 or $3.68 per share compared to $1,380,000,000 or $3.69 per share last year, indicating a decline in profitability.
Increased Net Interest Expense: The guidance for 2025 reflects an increase in net interest expense of $0.25 to $0.30 per share compared to 2024, suggesting rising costs that could impact overall financial performance.
Property NOI Growth Outlook: The expectation for domestic property NOI growth has been lowered to at least 3%, down from previous years' performance of over 4%, indicating a potential slowdown in revenue growth.
Lease Uncertainty and Revenue Instability: Approximately 5% of leases remain on a month-to-month basis, which is higher than pre-COVID levels, suggesting ongoing uncertainty in tenant commitments and potential revenue instability.
Restructuring Costs Impact: The company anticipates restructuring costs associated with the Catalyst Brands transaction, which may negatively impact short-term financial results as they work through the integration process.
SPG FAQs
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SPG Earning Call Sentiment
Earnings call transcript: Simon Property Q4 2024 beats estimates, stock steady
SPG.N
-4.28%Positive
The earnings call highlights strong financial performance with record cash dividends, increased occupancy rates, and improved operating margins. Despite some concerns over NOI expectations and B Mall investments, the overall sentiment is positive due to strategic initiatives like the rebranding of digital marketplaces and increased dividends. The Q&A section revealed cautious optimism about consumer behavior and strategic investments. The lack of a share repurchase program is a minor downside, but the overall financial health and strategic direction suggest a positive stock price movement over the next two weeks.
