Financial Data and Key Metrics Changes - Same-center NOI increased by 3.9% in Q1 2025 [7][35] - Nareit FFO rose to $89 million or $0.64 per diluted share, reflecting year-over-year share growth of 8.5% [33] - Core FFO increased to $90.8 million or $0.65 per diluted share, showing year-over-year per share growth of 8.3% [33] Business Line Data and Key Metrics Changes - Comparable renewal rent spreads were 20.8%, with in-line renewal rent spreads reaching a record high of 21.7% [19] - Comparable new leasing rent spreads for Q1 were 28.1%, with in-line new rent spreads at 27.5% [19] - Portfolio occupancy ended the quarter at 97.1% leased, with anchor occupancy at 98.4% [21] Market Data and Key Metrics Changes - 71% of the company's ABR comes from necessity-based goods and services, providing insulation from potential tariff disruptions [10] - The average population in PECO's 3-mile trade area is 68,000, with a median household income of $92,000, which is 12% higher than the U.S. median [24] Company Strategy and Development Direction - The company aims for gross acquisitions in the range of $350 million to $450 million for the year, targeting an unlevered IRR of 9% [13][14] - PECO's strategy focuses on grocery-anchored and necessity-based formats, which have historically outperformed during economic uncertainty [14][15] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the current environment, citing strong cash flows and retailer demand [15][39] - The company does not anticipate a recession but is prepared for potential economic challenges [132][146] Other Important Information - The company has approximately $760 million of liquidity to support its acquisition plans and no meaningful debt maturity until 2027 [35] - 86% of PECO's total debt is fixed rate, aligning with the company's target of 90% [37] Q&A Session Summary Question: Can you provide insights on leasing seasonality and expectations for May ICSC? - Management noted that while there is typical first-quarter seasonality, leasing activity remains strong with more leases out for signature than last year [50][52] Question: What factors could lead to higher or lower FFO guidance? - Management indicated that improvements in capital markets could push FFO to the higher end of the range, while uncertainty may lead to a conservative outlook [58] Question: How is the company managing variable rate exposure? - The company is comfortable with its current variable rate exposure and plans to maintain a fixed balance sheet [66] Question: Are there any changes in tenant demand or bankruptcy-related activity? - Management reported no significant changes in tenant demand and noted strong interest from retailers despite some bankruptcy activity in the market [110][128] Question: What is the company's approach to acquisitions in the current market? - The company remains focused on acquiring high-quality assets with a target unlevered IRR of over 9%, despite tighter initial investment spreads [99][100]

Financial Performance & Guidance - Q1 2025 Net Income per Share was $0.21[61] - Full Year 2025 Net Income per Share guidance is $0.58 - $0.63[61] - Full Year 2025 Nareit FFO per Share guidance is $2.47 - $2.54[61] - Full Year 2025 Core FFO per Share guidance is $2.52 - $2.59[61] - Same-Center NOI is expected to grow by 3.00% - 3.50% for the full year 2025[61] Portfolio & Acquisitions - The company's dividend yield as of March 31, 2025, is based on an annualized rate of $1.23 per share[8, 24] - Year-to-date acquisitions totaled $146.4 million[61] - The company anticipates acquisitions between $350 million and $450 million for the full year 2025[61] - In 2025, the company acquired properties with a total GLA of 602,160 square feet for $174.195 million, with a leased occupancy of 91.9% at acquisition[59] Property Portfolio - Grocery-anchored centers benefit from macroeconomic trends[12] - Grocery foot traffic remains strong[19] - As of March 31, 2025, a significant percentage of the company's ABR (Annual Base Rent) comes from grocery-anchored tenants[18, 44]

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) demonstrated strong financial performance in the quarter ended March 2025, with significant year-over-year revenue growth and earnings per share (EPS) exceeding expectations [1][2]. Financial Performance - Revenue for the quarter was reported at $178.31 million, marking a year-over-year increase of 10.6% [1]. - The revenue exceeded the Zacks Consensus Estimate of $174.23 million by 2.35% [1]. - EPS for the quarter was $0.65, compared to $0.14 a year ago, representing a substantial increase [1]. - The EPS also surpassed the consensus estimate of $0.63 by 3.17% [1]. Revenue Breakdown - Rental income was reported at $174.18 million, exceeding the average estimate of $170.05 million by analysts, with a year-over-year change of 10.2% [4]. - Other property income reached $1.35 million, significantly higher than the estimated $0.78 million, reflecting a year-over-year increase of 101.1% [4]. - Fees and management income was reported at $2.78 million, slightly below the estimated $2.82 million, with an 8.5% year-over-year increase [4]. - Diluted net income per share was $0.21, compared to the estimated $0.19 [4]. Stock Performance - Over the past month, shares of Phillips Edison & Company have returned -0.5%, outperforming the Zacks S&P 500 composite, which saw a -5.1% change [3]. - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3].

分组1 - Phillips Edison & Company reported quarterly funds from operations (FFO) of $0.65 per share, exceeding the Zacks Consensus Estimate of $0.63 per share, and up from $0.60 per share a year ago, representing an FFO surprise of 3.17% [1] - The company posted revenues of $178.31 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.35%, compared to year-ago revenues of $161.3 million [2] - Over the last four quarters, Phillips Edison & Company has surpassed consensus FFO estimates two times and topped consensus revenue estimates three times [2] 分组2 - The stock has lost about 4.5% since the beginning of the year, while the S&P 500 has declined by 8.6% [3] - The current consensus FFO estimate for the coming quarter is $0.64 on revenues of $176.24 million, and for the current fiscal year, it is $2.55 on revenues of $711.59 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Retail is currently in the top 30% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - The company reported a significant increase in revenue, achieving $X million, representing a Y% growth compared to the previous quarter[3]. - For the first quarter of 2025, net income attributable to stockholders was $26.3 million, or $0.21 per diluted share, compared to $17.7 million, or $0.14 per diluted share in Q1 2024, representing a 48.6% increase in net income[18][21]. - Nareit FFO for Q1 2025 was reported at $89.0 million, or $0.64 per diluted share, an increase of 11.2% from $80.1 million, or $0.59 per diluted share in Q1 2024[22][23]. - Core FFO for Q1 2025 was $90.8 million, or $0.65 per diluted share, also reflecting an 11.2% increase from $81.7 million, or $0.60 per diluted share in Q1 2024[24]. - The company reported a decrease in operational costs by I%, improving overall profitability margins[3]. - The company has set a performance guidance of F million for the next fiscal year, reflecting a G% increase from the current year[3]. - The company updated its 2025 earnings guidance, projecting net income per share between $0.58 and $0.63, and Nareit FFO per share between $2.47 and $2.54[37]. User Engagement and Activity - User data showed an increase in active users, reaching Z million, which is a W% increase year-over-year[3]. - The company provided an optimistic outlook for the next quarter, projecting revenue growth of A% and an increase in user engagement metrics[3]. - The company reported a significant increase in leasing activity, with several properties achieving over 95% occupancy in the last quarter[102]. Acquisitions and Investments - A strategic acquisition was completed, expected to enhance the company's market position and add E million in annual revenue[4]. - The company engaged in acquisition activity totaling $146,445 thousand in Q1, with a full-year target of $350,000 - $450,000 thousand[123]. - The company is investing D million in research and development for innovative technologies aimed at enhancing user experience[3]. - The company has several active capital projects with a total estimated cost of $46,875,000, targeting yields between 9% and 12%[75]. Property and Portfolio Management - The company executed 234 leases totaling approximately 1.5 million square feet in Q1 2025, with new leases showing a rent spread of 28.1% and renewal leases at 20.8%[28][29]. - The company has a total of 5,779 leases expiring, with 32,897 thousand square feet, representing 100% of leased GLA, and an average ABR of $15.94 PSF[101]. - The overall leased occupancy rate is 97.1%, with anchor spaces at 98.4% and inline spaces at 94.6%[93]. - The company has properties in multiple states, including Florida and Colorado, showcasing a broad market presence and potential for expansion[104][105]. Financial Guidance and Liquidity - The company has approximately $760 million in total liquidity, including $7.9 million in cash and $751.8 million in borrowing capacity on its revolving credit facility[33]. - Total liabilities amounted to $2,427,719,000, with debt obligations constituting $2,304,162,000[125]. - The company reported a net interest expense of $25,672,000 for the first quarter of 2025, compared to $23,335,000 in the same period of 2024, indicating an increase of about 10.0%[70]. Sustainability and Strategic Focus - The company is focusing on sustainability initiatives, allocating H million towards eco-friendly practices and technologies[3]. - The company is exploring potential partnerships to further expand its market reach and enhance service offerings[3]. - The company plans to continue its strategy of acquiring and developing properties in key markets to enhance its growth potential[102]. Market Position and Future Outlook - The company reported a total of 1,200,000 square feet of Gross Leasable Area (GLA) across various properties, with an average occupancy rate of 95.2%[106]. - Future strategies may include further market expansion and potential acquisitions to enhance portfolio diversity and revenue streams[104][105]. - The company is focused on maintaining high occupancy rates, with several properties exceeding 95% leased status, which is critical for revenue stability[104][105].

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) reported strong financial results for Q1 2025, with net income of $26.3 million, or $0.21 per diluted share, reflecting a significant increase from the previous year [1][4]. Financial Results - Q1 2025 net income attributable to stockholders was $26.3 million, up from $17.7 million in Q1 2024 [4]. - Nareit FFO for Q1 2025 increased by 11.2% to $89.0 million, or $0.64 per diluted share, compared to $80.1 million, or $0.59 per diluted share in Q1 2024 [5]. - Core FFO for Q1 2025 also rose by 11.2% to $90.8 million, or $0.65 per diluted share, compared to $81.7 million, or $0.60 per diluted share in Q1 2024 [6]. Operational Highlights - Same-center NOI increased by 3.9% year-over-year to $115.1 million [8]. - The company reported a strong leased portfolio occupancy of 97.1% and same-center leased portfolio occupancy of 97.2% [7]. - Executed new leases at a rent spread of 28.1% and renewal leases at a rent spread of 20.8% during the quarter [7][11]. Portfolio Overview - As of March 31, 2025, PECO's portfolio consisted of 298 properties totaling approximately 33.5 million square feet across 31 states, an increase from 284 properties totaling 32.4 million square feet a year earlier [9]. - The company acquired six shopping centers for a total of $146.4 million and sold one for $24.9 million during the quarter [7][12]. Balance Sheet Highlights - As of March 31, 2025, PECO had approximately $760 million in total liquidity, including $7.9 million in cash and $751.8 million in borrowing capacity on its revolving credit facility [14]. - The company's net debt to annualized adjusted EBITDAre was 5.3x, compared to 5.0x at the end of 2024 [15]. 2025 Guidance - PECO affirmed its full-year 2025 earnings guidance, projecting Nareit FFO per share between $2.47 and $2.54, and Core FFO per share between $2.52 and $2.59 [18]. - The midpoint of full-year 2025 same-center NOI guidance represents a growth of 3.25% year-over-year [7].

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) reported strong financial results for Q1 2025, with net income of $26.3 million, or $0.21 per diluted share, reflecting a significant increase from the previous year [1][4]. Financial Results - Net income attributable to stockholders for Q1 2025 was $26.3 million, up from $17.7 million in Q1 2024, representing a 48.6% increase [4]. - Nareit Funds from Operations (FFO) increased by 11.2% to $89.0 million, or $0.64 per diluted share, compared to $80.1 million, or $0.59 per diluted share, in Q1 2024 [5][7]. - Core FFO for Q1 2025 was $90.8 million, or $0.65 per diluted share, up from $81.7 million, or $0.60 per diluted share, in Q1 2024 [7]. Operational Highlights - Same-center Net Operating Income (NOI) increased by 3.9% to $115.1 million compared to $110.7 million in Q1 2024 [8]. - The company reported a strong leased portfolio occupancy of 97.1% and same-center leased portfolio occupancy of 97.2% as of March 31, 2025 [9]. - During Q1 2025, PECO executed 234 leases totaling approximately 1.5 million square feet, with new leases showing a rent spread of 28.1% and renewal leases at 20.8% [11][12]. Portfolio Activity - PECO acquired six shopping centers for a total of $146.4 million and sold one shopping center for $24.9 million during Q1 2025 [6][13]. - The company’s total portfolio consisted of 298 properties totaling approximately 33.5 million square feet as of March 31, 2025, compared to 284 properties totaling approximately 32.4 million square feet a year earlier [9]. Balance Sheet Highlights - As of March 31, 2025, PECO had approximately $760 million in total liquidity, including $7.9 million in cash and $751.8 million in borrowing capacity on its $1.0 billion revolving credit facility [17]. - The company’s net debt to annualized adjusted EBITDAre was 5.3x, compared to 5.0x at the end of 2024 [18]. 2025 Guidance - PECO affirmed its full-year 2025 earnings guidance, projecting Nareit FFO per share between $2.47 and $2.54, and Core FFO per share between $2.52 and $2.59 [21]. - The midpoint of full-year 2025 same-center NOI guidance represents a growth of 3.25% year-over-year [6].

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) will host an ICSC Recap webcast on May 22, 2025, to discuss insights from the ICSC Las Vegas event and provide updates on the leasing environment [1][2]. Company Overview - PECO is one of the largest owners and operators of grocery-anchored neighborhood shopping centers in the United States, managing 321 shopping centers as of March 31, 2025, which includes 298 wholly-owned centers totaling 33.5 million square feet across 31 states [5]. - The company focuses on creating omni-channel shopping experiences and improving communities through its shopping centers, which feature a mix of national and regional retailers [5]. Event Details - The ICSC Recap webcast will take place on May 22, 2025, at 1:00 p.m. Eastern Time, and will include a live Q&A session [4]. - Key executives participating in the webcast include Chairman and CEO Jeff Edison, President Bob Myers, COO Joe Schlosser, and other senior leaders [2]. Industry Context - ICSC (International Council of Shopping Centers) is a member organization that promotes the shopping center industry, and the ICSC Las Vegas event is a significant annual gathering for dealmakers and industry experts [3].

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) will host a webcast to recap its attendance at the ICSC Las Vegas event and provide updates on the current leasing environment [1][2]. Group 1: Webcast Details - The ICSC Recap webcast is scheduled for Thursday, May 22, 2025, at 1:00 p.m. Eastern Time [4]. - The webcast will include a live Q&A session and will be available for replay within 24 hours on the company's website [4]. Group 2: Company Overview - PECO is one of the largest owners and operators of grocery-anchored neighborhood shopping centers in the United States, managing 321 shopping centers as of March 31, 2025 [5]. - The company operates 298 wholly-owned centers, totaling 33.5 million square feet across 31 states, and has 23 centers owned in three institutional joint ventures [5]. - PECO's grocery anchors include major retailers such as Kroger, Publix, Albertsons, and Ahold Delhaize [5]. Group 3: Industry Context - ICSC is a key organization for the shopping center industry, hosting an annual event in Las Vegas that gathers dealmakers and industry experts [3]. - The event focuses on driving innovation and evolution in commercial real estate [3].

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) is set to announce its First Quarter 2025 earnings results on April 24, 2025, after market close, with a conference call scheduled for April 25, 2025, at 12:00 p.m. ET [1][2][6] Company Overview - PECO is one of the largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers in the United States, founded in 1991 [4] - As of December 31, 2024, PECO managed 316 shopping centers, including 294 wholly-owned centers totaling 33.3 million square feet across 31 states [4] - The company focuses on creating omni-channel shopping experiences and improving communities through its shopping centers [4] Earnings Conference Call Details - The earnings conference call will be hosted by Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield [1] - A webcast replay will be available approximately one hour after the presentation [3] - The call can be accessed via a toll-free dial-in number and a toll dial-in number, with a specific conference ID provided [6]