Rexford Industrial Realty (REXR) Q3 FY2023 earnings: revenue $205 million, up 26.2% on the year

Rexford Industrial Realty, Inc. (REXR) reported revenue of $205 million for Q3 FY2023, the quarter ended 30 September 2023, up 26.2% on the same quarter a year earlier. Net income was $59 million, up 50.1% on the year, and diluted earnings per share $0.27. The figures are the company's own, from the 10-Q it filed with the SEC on 23 October 2023.

Revenue$205 millionup 26.2%

Net income$59 millionup 50.1%

Diluted EPS$0.27

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	205	n/a	n/a	n/a
Operating income	78.3	n/a	n/a	n/a
Operating margin	38.1%	n/a	n/a
Interest expense	15.9	n/a	n/a	n/a
Income tax	0.0	n/a	n/a	n/a
Net income	59.0	n/a	n/a	n/a
Net margin	28.7%	n/a	n/a
Diluted EPS	$0.27	n/a	n/a	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	Quarter before	A year earlier	Change on the year
Operating cash flow	109	n/a	n/a	n/a
Capital expenditure	75.2	n/a	n/a	n/a
Free cash flow	33.7	n/a	n/a	n/a
Free cash flow margin	16.4%	n/a	n/a
Cash from investing	-377	n/a	n/a	n/a
Cash from financing	215	n/a	n/a	n/a
Depreciation and amortisation	60.4	n/a	n/a	n/a
Share-based compensation	8.2	n/a	n/a	n/a
Dividends paid	76.4	n/a	n/a	n/a
Dividend per share	$0.38	n/a	n/a	n/a
Diluted shares, weighted	205m	n/a	n/a	n/a
Shares outstanding at period end	206m	n/a	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	Quarter before	A year earlier	Change on the year
Shareholders' equity	7,472	n/a	n/a	n/a
Non-controlling interest	371	n/a	n/a	n/a
Debt	2,228	n/a	n/a	n/a
Other liabilities	507	n/a	n/a	n/a
Total liabilities and equity	10,577	n/a	n/a	n/a
Intangible assets	154	n/a	n/a	n/a
Cash and equivalents	83.3	n/a	n/a	n/a
Other assets	10,340	n/a	n/a	n/a
Total assets	10,577	n/a	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	205	210	214	238	242	243	252	250	253	248	245	246
Operating income	78.3	75.3	80.4	98.5	96.8	93.1	90.4	103	94.2	92.8	100	102
Operating margin	38%	36%	38%	41%	40%	38%	36%	41%	37%	37%	41%	42%
Interest expense	15.9	14.6	14.7	28.4	27.3	28.2	27.3	26.7	25.5	25.5	26.6	28.6
Net income	59.0	64.4	61.4	82.5	67.8	62.2	71.2	116	89.9	-65.4	91.2	-504
Net margin	29%	31%	29%	35%	28%	26%	28%	47%	36%	-26%	37%	-205%
Diluted EPS	$0.27	$0.29	$0.27	$0.37	$0.30	$0.27	$0.30	$0.48	$0.37	-$0.30	$0.38	-$2.26
Operating cash flow	109	116	134	102	127	116	153	128	150	112	141	107
Capital expenditure	75.2	99.3	79.9	85.1	120	88.4	79.1	83.2	89.2	81.9	63.0	48.1
Free cash flow	33.7	16.7	53.9	16.5	7.2	27.9	73.4	45.0	60.5	29.8	78.1	58.7
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	150	100	200	100
Dividends paid	76.4	78.5	80.7	90.9	90.9	91.6	94.1	102	102	100	99.6	98.4
Shares outstanding	206m	212m	218m	218m	220m	225m	236m	237m	233m	232m	226m	223m
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-Q for the period ended 30 September 2023, filed 23 October 2023, accession 0001571283-23-000042: the filing on EDGAR. All of Rexford Industrial Realty, Inc.'s filings: EDGAR company page.

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