Phillips Edison & Company, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 04:36 pm EDT
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Phillips Edison & Company, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 149.57 million compared to USD 142.86 million a year ago. Revenue was USD 152.47 million compared to USD 145.65 million a year ago. Net income was USD 12.25 million compared to USD 11.04 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.09 a year ago. Diluted earnings per share from continuing operations was USD 0.1 compared to USD 0.09 a year ago.
For the nine months, sales was USD 446.27 million compared to USD 418.84 million a year ago. Revenue was USD 455.68 million compared to USD 430.33 million a year ago. Net income was USD 43.32 million compared to USD 34.65 million a year ago. Basic earnings per share from continuing operations was USD 0.37 compared to USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.37 compared to USD 0.3 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. 
