Equity One Inc. (NYSE:EQY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Equity One Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.29% to $0.32 in the quarter versus EPS of $0.28 in the year-earlier quarter.
Revenue: Rose 5.07% to $86.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Equity One Inc. reported adjusted EPS income of $0.32 per share. By that measure, the company beat the mean analyst estimate of $0.29. It beat the average revenue estimate of $85.84 million.
Quoting Management: “We are very pleased with our results this quarter which provide further evidence of the growth characteristics in our upgraded portfolio and the ability to produce accretive returns on our development and redevelopment projects. We have made substantial progress on our capital recycling plan to dispose of non-core assets with approximately $168 million of properties currently sold or under executed contracts,” said Jeff Olson, CEO.
Key Stats (on next page)…