Q: Could you provide some insight to the negative earnings market activity? NOI was up but EPS down, did not look all that bad?
Appreciate all your great help! Ted.
Appreciate all your great help! Ted.
5i Research Answer:
EPS of $1.17 missed estimates of $1.20; revenue of $305M missed estimates of $310M. EBITDA of $70M missed estimates by 2%. Revenue growth was weak, at only 0.4%. Comparable sales fell 1.9%. EBITDA fell 5.3% year over year. The stock fell as simple volatility in Q1 seems to have turned into a broader economic weakness, with lower average check sizes and specific weakness in some of the companies' banners.