Spirit Realty (SRC) Reports Q3 Earnings: What Key Metrics Have to Say
Spirit Realty (SRC) reported $188.21 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 4.4%. EPS of $0.92 for the same period compares to $0.54 a year ago.
The reported revenue represents a surprise of -0.67% over the Zacks Consensus Estimate of $189.48 million. With the consensus EPS estimate being $0.90, the EPS surprise was +2.22%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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.
Here is how Spirit Realty performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Rental income: $188.21 million versus $188.29 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +4.4% change.
Revenue- Interest income on loans receivable: $1.51 million versus $1.14 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +189.1% change.
Revenue- Earned income from direct financing leases: $0.13 million versus $0.11 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Net Earnings Per Share (Diluted): $0.25 compared to the $0.38 average estimate based on six analysts.
View all Key Company Metrics for Spirit Realty here>>>
Shares of Spirit Realty have returned +10.3% over the past month versus the Zacks S&P 500 composite's -1.1% 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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Spirit Realty Capital, Inc. (SRC) : Free Stock Analysis Report
