Federal Realty Investment Trust (FRT) FY2023 results: revenue $1.1 billion, up 5.4% on the year
Federal Realty Investment Trust (FRT) reported revenue of $1.1 billion for fiscal 2023, the year ended 31 December 2023, up 5.4% on the year before. Net income was $237 million, down 38.5%, and diluted earnings per share $2.80. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2024.
Revenue
$1.1 billion
+5.4% on the year
FY2016FY2023
Operating margin
35.9%
49.0% a year earlier
FY2016FY2023
Net income
$237 million
-38.5% on the year
FY2016FY2023
Diluted EPS
$2.80
-40.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
556
517
471
+7.6%
Cash from investing
-358
-786
-660
Cash from financing
-33.8
190
-453
Depreciation and amortisation
322
302
280
+6.4%
Share-based compensation
14.3
13.7
13.0
+4.4%
Dividend per share
$4.34
$4.30
$4.26
+0.9%
Diluted shares, weighted
81m
81m
77m
+1.0%
Shares outstanding at period end
83m
81m
79m
+1.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,964
2,954
2,581
+0.3%
Non-controlling interest
78.7
80.0
82.5
-1.7%
Redeemable equity
183
178
214
+2.8%
Debt
4,616
4,344
4,063
+6.2%
Other liabilities
595
677
682
-12.1%
Total liabilities and equity
8,437
8,234
7,622
+2.5%
Cash and equivalents
251
85.6
162
+193.2%
Other assets
8,186
8,148
7,460
+0.5%
Total assets
8,437
8,234
7,622
+2.5%
10-K for the year ended 31 December 2023, filed 12 February 2024: the filing.