Phillips Edison & Company, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 04, 2022 at 04:05 pm EDT
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Phillips Edison & Company, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 137.23 million compared to USD 130.34 million a year ago. Revenue was USD 142.52 million compared to USD 133.07 million a year ago. Net income was USD 13.53 million compared to USD 5.59 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to USD 0.06 a year ago.
For the six months, sales was USD 275.98 million compared to USD 257.96 million a year ago. Revenue was USD 284.68 million compared to USD 263.45 million a year ago. Net income was USD 23.61 million compared to USD 5.7 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to USD 0.06 a year ago.
Phillips Edison & Company, Inc. is a real estate investment trust (REIT). The Company's business is conducted through Phillips Edison Grocery Center Operating Partnership I, L.P. (the Operating Partnership). The Company owns and operates omni-channel grocery-anchored shopping centers. Additionally, it operates a third-party investment management business providing property management and advisory services to two unconsolidated institutional joint ventures and one private fund. Its portfolio primarily consists of neighborhood centers anchored by the #1 or #2 grocer tenants by sales within their respective formats by trade area. Its centers feature a mix of national and regional retailers providing goods and services throughout the United States. The Company manages approximately 301 shopping centers, including 281 wholly owned centers comprising 32.2 million square feet across 31 states and 20 shopping centers owned in one institutional joint venture.
PHILLIPS EDISON & COMPANY, INC. 
