Fri, Apr 25, 8:08 PM (28 days ago)
**Phillips Edison & Company, Inc. (PECO) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $178.3 million, up 10.5% YoY, driven by rental income ($174.2 million, +10.2% YoY) and other property income ($1.3 million, +101% YoY). - **Profit Margins:** Net income of $28.9 million, up 47.2% YoY. Net income attributable to stockholders was $26.3 million, up 48.9% YoY. - **Cash Flow:** Net cash provided by operating activities was $60.5 million, down 4.1% YoY. Net cash used in investing activities was $163.6 million, up 145.4% YoY, primarily due to real estate acquisitions ($139.1 million) and capital expenditures ($26.4 million). **Earnings Changes & Quarterly Performance:** - **Earnings per Share (EPS):** Basic and diluted EPS were $0.21, up from $0.14 in Q1 2024. - **Same-Center NOI:** Increased by 3.9% YoY, indicating strong operational performance. - **Adjusted EBITDA re:** $117.0 million, up from $105.4 million in Q1 2024. **Trends & Uncertainties:** - **Economic Conditions:** PECO faces uncertainties due to economic conditions, inflation, and potential recessions. However, leases with provisions for inflation mitigation and shorter lease terms help manage these risks. - **Interest Rates:** Elevated interest rates may impact borrowing costs and tenant financial stability. - **Global Trade:** Rapid changes in trade policy and tariffs could affect costs and supply chains. **Future Operations & Impact:** - **Capital Expenditures:** PECO plans to invest in real estate, redevelopment, and capital expenditures, expecting to meet obligations through operating cash flows, dispositions, or borrowings. - **Debt & Liquidity:** PECO has a strong liquidity position with a $1 billion revolving credit facility and expects to meet short- and long-term cash demands. - **Acquisitions & Dispositions:** PECO continues to monitor the market for strategic acquisitions and dispositions to optimize its portfolio. **Key Metrics (Q1 2025):** - **Portfolio:** 321 shopping centers (298 wholly-owned, 23 joint ventures) across 31 states, totaling 36.0 million square feet. - **Leased Occupancy:** 97.1% (total portfolio), 98.4% (anchor spaces), 94.6% (inline spaces). - **Average Remaining Lease Term:** 4.5 years. **Ticker:** PECO