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Kimco Realty (KIM) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Kimco Realty (KIM) reported revenue of $503.75 million, up 13.7% over the same period last year. EPS came in at $0.39, compared to $0.46 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $468.82 million, representing a surprise of +7.45%. The company delivered an EPS surprise of +2.63%, with the consensus EPS estimate being $0.38.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

  • Pro-rata portfolio occupancy: 96% versus 96.4% estimated by three analysts on average.

  • Revenues- Management and other fee income: $4.85 million versus $4.48 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.

  • Revenues- Revenues from rental properties, net: $498.91 million compared to the $464.69 million average estimate based on six analysts. The reported number represents a change of +13.8% year over year.

  • Net Earnings Per Share- Diluted: -$0.03 versus the five-analyst average estimate of $0.26.

View all Key Company Metrics for Kimco Realty here>>>

Shares of Kimco Realty have returned -1.4% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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Zacks Investment Research