Phillips Edison & Company, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 04:21 pm EST
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Phillips Edison & Company, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 151.23 million compared to USD 141.7 million a year ago. Revenue was USD 154.45 million compared to USD 145.04 million a year ago. Net income was USD 13.53 million compared to USD 13.68 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.12 a year ago.
For the full year, sales was USD 597.5 million compared to USD 560.54 million a year ago. Revenue was USD 610.12 million compared to USD 575.37 million a year ago. Net income was USD 56.85 million compared to USD 48.32 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.48 compared to USD 0.42 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. 
