Saul Centers, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:39 pm EDT
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Saul Centers, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 62 million compared to USD 59.13 million a year ago. Revenue was USD 63.71 million compared to USD 60.29 million a year ago. Net income was USD 13.16 million compared to USD 13.02 million a year ago. Basic earnings per share from continuing operations was USD 0.43 compared to USD 0.43 a year ago. Diluted earnings per share from continuing operations was USD 0.43 compared to USD 0.43 a year ago.
For the six months, sales was USD 123.83 million compared to USD 119.81 million a year ago. Revenue was USD 126.76 million compared to USD 122.44 million a year ago. Net income was USD 26.66 million compared to USD 26.38 million a year ago. Basic earnings per share from continuing operations was USD 0.88 compared to USD 0.87 a year ago. Diluted earnings per share from continuing operations was USD 0.88 compared to USD 0.87 a year ago.
Saul Centers, Inc. is a real estate investment trust (REIT). The Company conducts all its activities through its subsidiaries, the Operating Partnership and Subsidiary Partnerships, engaged in the ownership, operation, management, leasing, acquisition, renovation, expansion, development and financing of community and neighborhood shopping centers and mixed-used properties, primarily in the Washington, DC/Baltimore metropolitan area. The Company operates through two business segments: Shopping Centers and Mixed-Use Properties. The Company operates and manages a real estate portfolio of over 57 operating properties, totaling approximately 9.8 million square feet of gross leasable area (GLA), and four development properties. The operating property portfolio is composed of 50 neighborhood and community shopping centers, and seven mixed-use properties totaling approximately 7.9 million and 1.9 million square feet of GLA, respectively.
SAUL CENTERS, INC. 
