CBL & Associates Properties Inc. (CBL) Monday said first-quarter funds from operations, or FFO, available to common shareholders improved to $85.91 million or $0.53 per share from $72.18 million or $0.49 per share in the year-earlier quarter.
On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.51 per share for the quarter. Analysts' estimates typically exclude special items.
FFO of the operating partnership totaled $101.62 million, compared to $92.4 million last year.
Net income attributable to common shareholders increased to $19.09 million or $0.12 per share from $15.46 million or $0.10 per share last year.
Income from continuing operations totaled $39.77 million or $0.12 per share, up from $34.53 million or $0.09 per share last year.
Looking ahead, the company maintains its full-year 2013 FFO guidance range of $2.18 to $2.26 per share. Analysts currently expect full-year FFO of $2.22 per share.
Full-year earnings is expected to range between $0.63 and $0.71 per share.
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