** charts before earnings **
** charts after earnings **
DDR beats by $0.01, reports revs in-line; withdraws previous FY17 FFO and Operating FFO guidance :
- Reports Q1 (Mar) funds from operations of $0.30 per share, $0.01 better than the Capital IQ Consensus of $0.29; revenues fell 6.2% year/year to $230.98 mln vs the $230.91 mln Capital IQ Consensus.
- DDR is withdrawing its previous guidance for net income applicable to common shareholders, Funds From Operations ("FFO") and Operating FFO given the unpredictable timing and magnitude of potential transactional activity in 2017. Previous guidance was for FFO of $1.12-1.16 ($1.10-1.14 NAREIT FFO)
- Expected annual growth in same store net operating income has been reduced from a total portfolio range of 1%-2% previously expected to a range of (1.0%)-0.5% for the US Portfolio; (1.5%)-flat for the Total Portfolio
- The change in guidance reflects the impact of increased vacancies from recent tenant bankruptcies, which had not been anticipated in prior guidance as well as the inclusion of bad debt expense on a comparable basis.
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