Regency Centers Corp. Q3 FY2023 results: revenue $331 million, up 8.8% on the year

Regency Centers Corp. (REG) reported revenue of $331 million for Q3 FY2023, the quarter ended 30 September 2023, up 8.8% on the same quarter a year earlier. Net income was $91 million, up 3.6% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2023.

Revenue$331 millionup 8.8%

Net income$91 millionup 3.6%

Diluted EPSn/a

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Q2 FY2023	A year earlier	Change on the year
Revenue	331	314	n/a	n/a
Operating income	119	111	n/a	n/a
Operating margin	36.1%	35.5%	n/a
Interest expense	38.8	37.0	n/a	n/a
Pre-tax income	79.7	76.3	n/a	n/a
Net income	90.7	86.8	n/a	n/a
Net margin	27.4%	27.6%	n/a

$ million except per share. 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	Q3 FY2023	Q2 FY2023	A year earlier	Change on the year
Operating cash flow	213	173	n/a	n/a
Capital expenditure	58.9	55.5	n/a	n/a
Free cash flow	154	117	n/a	n/a
Free cash flow margin	46.6%	37.2%	n/a
Depreciation and amortisation	87.5	83.2	n/a	n/a
Share-based compensation	5.3	4.0	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Dividends paid	110	111	n/a	n/a
Dividend per share	$0.65	$0.65	n/a	n/a
Shares outstanding at period end	185m	171m	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	Q3 FY2023	Q2 FY2023	A year earlier	Change on the year
Total assets	12,381	10,828	n/a	n/a
Cash and equivalents	81.1	43.1	n/a	n/a
Goodwill	167	167	n/a	n/a
Long-term debt	4,069	3,709	n/a	n/a
Borrowings, as the company tags them	3,992	3,709	n/a	n/a
Shareholders' equity	7,061	6,040	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026
Revenue	314	331	360	364	357	360	373	381	381	388	404	412
Operating income	111	119	116	263	258	261	265	274	281	282	287	296
Operating margin	35%	36%	32%	72%	72%	72%	71%	72%	74%	73%	71%	72%
Interest expense	37.0	38.8	42.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	76.3	79.7	77.8	101	92.6	90.1	76.1	97.4	94.6	97.5	118	110
Net income	86.8	90.7	89.8	110	103	101	86.5	110	106	109	202	129
Net margin	28%	27%	25%	30%	29%	28%	23%	29%	28%	28%	50%	31%
Operating cash flow	173	213	172	168	203	228	191	161	244	219	204	153
Capital expenditure	55.5	58.9	73.9	60.9	80.9	93.5	108	101	103	103	128	105
Free cash flow	117	154	98.0	107	123	134	83.3	59.6	141	116	76.1	47.7
Buybacks	0.0	0.0	0.0	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	111	110	120	124	124	122	121	128	128	128	128	276
Shares outstanding	171m	185m	185m	185m	181m	182m	181m	182m	182m	182m	183m	183m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

* 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. 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-Q for the period ended 30 September 2023, filed 6 November 2023, accession 0000950170-23-059213: the filing on EDGAR. All of Regency Centers Corp.'s filings: EDGAR company page.

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