Equity One Q1 Profit Rises; Reaffirms 2014 Recurring FFO Guidance

(RTTNews) - Equity One, Inc. (EQY) reported first-quarter net income attributable to company of $26.3 million, or $0.22 per share, compared to $24.6 million, or $0.21 per share, previous year. Earnings per share from continuing operations was $0.20, comapred to $0.09.

In the first quarter of 2014, the company generated FFO of $44.7 million, or $0.35 per share, compared to $40.0 million, or $0.31 per share for the same period of 2013. Recurring funds from operations was $0.35 per share for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.31 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $92.70 million from $81.43 million. Analysts expected revenue of $88.06 million for the quarter.

The company reaffirmed its 2014 recurring FFO guidance of $1.23 to $1.28 per share, excluding the one-time costs pertaining to the transition and hiring of its new CEO. Analysts expect the company to report 2014 profit per share of $1.27.