EastGroup Properties on Tuesday posted first-quarter net income of $27.4 million or $0.69 per share, higher than $23.3 million or $0.60 per share in the previous-year period. On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share in the quarter. Analysts' estimates, usually, exclude one-time items.
In the quarter, funds from operations came in at $57.7 million or $1.45 per share, up from $51.2 million or $1.31 per share in the year-ago quarter. Quarterly revenues rose to $98.0 million from $88.6 million in the same period last year, while analysts were looking for revenues of $94.5 million for the period. Looking forward to the second quarter, the company expects net income between $26.6 million and $25 million. On a per share basis, earnings are expected between $0.66 and $0.62. On average, 7 analysts expect the company to report earnings of $0.62 per share in the second quarter. Funds from operations are expected between $58.3 million and $56.7 million in the second quarter. On a per share basis, funds from operations are expected between $1.46 and $1.42.
For the year ahead, the company expects net income between $105.7 million and $101.7 million. On a per share basis, earnings are expected between $2.63 and $2.53.
On average, 8 analysts expect the company to report earnings of $2.54 per share in fiscal 2021.
Funds from operations are expected between $234.6 million and $230.6 million in full-year 2021. On a per share basis, funds from operations are expected between $5.84 and $5.74.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.