Brixmor Property Group (BRX) Q4 FY2023 earnings: revenue $316 million, up 2.6% on the year

Brixmor Property Group Inc. (BRX) reported revenue of $316 million for Q4 FY2023, the quarter ended 31 December 2023, up 2.6% on the same quarter a year earlier. Net income was $73 million, down 32.2% on the year, and diluted earnings per share $0.24. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2024.

Revenue$316 millionup 2.6%

Net income$73 milliondown 32.2%

Diluted EPS$0.24

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	316	307	n/a	n/a
Interest expense	47.2	47.4	n/a	n/a
Net income	72.7	63.7	n/a	n/a
Net margin	23.0%	20.7%	n/a
Diluted EPS	$0.24	$0.21	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	135	159	n/a	n/a
Capital expenditure	90.7	98.4	n/a	n/a
Free cash flow	44.6	60.2	n/a	n/a
Free cash flow margin	14.1%	19.6%	n/a
Cash from investing	-70.1	-81.1	n/a	n/a
Cash from financing	-65.0	-73.6	n/a	n/a
Depreciation and amortisation	89.5	96.3	n/a	n/a
Share-based compensation	6.2	5.7	n/a	n/a
Dividend per share	n/a	$0.26	n/a	n/a
Diluted shares, weighted	302m	303m	n/a	n/a
Shares outstanding at period end	301m	301m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	2,850	2,868	n/a	n/a
Non-controlling interest	0.0	n/a	n/a	n/a
Debt	4,937	4,924	n/a	n/a
Other liabilities	545	544	n/a	n/a
Total liabilities and equity	8,333	8,336	n/a	n/a
Cash and equivalents	0.9	0.9	n/a	n/a
Receivables	279	263	n/a	n/a
Other assets	8,053	8,072	n/a	n/a
Total assets	8,333	8,336	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	307	316	320	316	321	328	338	339	341	354	355	354
Interest expense	47.4	47.2	51.5	53.7	55.4	55.4	54.1	54.4	56.7	59.5	59.4	60.9
Net income	63.7	72.7	88.9	70.1	96.8	83.4	69.7	85.1	94.2	137	128	73.5
Net margin	21%	23%	28%	22%	30%	25%	21%	25%	28%	39%	36%	21%
Diluted EPS	$0.21	$0.24	$0.29	$0.23	$0.32	$0.27	$0.23	$0.28	$0.31	$0.44	$0.41	$0.24
Operating cash flow	159	135	129	184	157	155	130	181	168	172	141	204
Capital expenditure	98.4	90.7	76.9	90.2	88.4	97.9	82.5	88.8	74.2	74.5	71.0	52.5
Free cash flow	60.2	44.6	51.7	93.4	69.1	57.2	47.6	92.6	94.1	97.7	70.2	151
Shares outstanding	301m	301m	301m	301m	302m	305m	306m	306m	306m	306m	307m	307m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 12 February 2024, accession 0001581068-24-000007: the filing on EDGAR. All of Brixmor Property Group Inc.'s filings: EDGAR company page.

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