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EastGroup Properties (EGP) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended March 2024, EastGroup Properties (EGP) reported revenue of $154.22 million, up 14.2% over the same period last year. EPS came in at $1.98, compared to $1.02 in the year-ago quarter.

The reported revenue represents a surprise of +1.06% over the Zacks Consensus Estimate of $152.6 million. With the consensus EPS estimate being $2.01, the EPS surprise was -1.49%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how EastGroup Properties performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Income from real estate operations: $154.07 million compared to the $152.01 million average estimate based on six analysts. The reported number represents a change of +15% year over year.

  • Revenues- Other revenue: $0.15 million compared to the $0.15 million average estimate based on three analysts.

  • Net Earnings Per Share (Diluted): $1.22 compared to the $1.04 average estimate based on five analysts.

View all Key Company Metrics for EastGroup Properties here>>>

Shares of EastGroup Properties have returned -8.8% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research