Kimco Realty Q4 Earnings Decline, Below Estimates; Revenue Beats

(RTTNews) - Kimco Realty Corp. (KIM) on Thursday reported net income of $75.33 million, or $0.13 per share in the fourth quarter, lower than $194.9 million, or $0.45 per share in the same quarter a year ago, hurt by higher expenses.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share. Analysts' estimates typically exclude special items.

Excluding one-time items, Nareit FFO was $240.07 million, or $0.39 per share, for the fourth quarter compared to $133.03 million, or $0.31 per share last year.

Revenue for the quarter increased to $424.65 million from $269.44 million last year. The consensus estimate stood at $391.26 million.

Looking forward to 2022, the company expects EPS to be in the range of $0.51-$0.55 and Nareit FFO per share to be in the range of $1.46-$1.50. Analysts expect earnings of $0.67 per share for the period.