National Retail Properties Q2 Results Top Estimates, But Trims FY25 EPS Outlook

(RTTNews) - REIT National Retail Properties, Inc. (NNN) reported Thursday that net earnings for the second quarter declined to $100.53 million or $0.54 per share from $106.67 million or $0.58 per share in the prior-year quarter.

Funds from Operations or FFO, available to common stockholders for the quarter were $157.18 million or $0.84 per share, up from $152.38 million or $0.83 per share last year.

Core FFO, available to common stockholders was $157.37 million or $0.84 per share, compared to $152.53 million or $0.83 per share a year ago.

Adjusted FFO available to common stockholders was $158.52 million or $0.85 per share, compared to $153.60 million or $0.84 per share a year ago

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew to $226.80 million from $216.81 million in the same quarter last year. Analysts expected revenues of $224.28 million for the quarter.

Looking ahead to fiscal 2025, the company now projects core FFO in a range of $3.34 to $3.39 per share, AFFO in a range of $3.40 to $3.45 per share and net earnings in a range of $1.93 to $1.98 per share.

Previously, the company expected core FFO in the range of $3.33 to $3.38 per share, AFFO in the range of $3.39 to $3.44 per share and net earnings in the range of $1.97 to $2.02 per share.

The Street is currently looking for earnings of $2.00 per share for the year.

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