Compared to Estimates, SL Green (SLG) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, SL Green (SLG) reported revenue of $139.62 million, up 6.2% over the same period last year. EPS came in at $1.13, compared to -$0.38 in the year-ago quarter.
The reported revenue represents a surprise of +2.17% over the Zacks Consensus Estimate of $136.66 million. With the consensus EPS estimate being $1.21, the EPS surprise was -6.61%.
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.
Here is how SL Green performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Rental revenue including Escalation and reimbursement revenues: $156.93 million versus the four-analyst average estimate of $153.78 million. The reported number represents a year-over-year change of +19.3%.
Revenues- Investment income: $5.34 million compared to the $9.29 million average estimate based on four analysts. The reported number represents a change of -44.8% year over year.
SUMMIT Operator revenue: $36.44 million versus $35.69 million estimated by three analysts on average.
Revenues- Other income: $26.21 million versus $20.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +109% change.
Net Earnings Per Share (Diluted): -$0.21 versus the five-analyst average estimate of -$0.47.
View all Key Company Metrics for SL Green here>>>
Shares of SL Green have returned +3.7% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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