Urban Edge Properties (UE) Q1 FY2024 earnings: revenue $110 million, up 10.2% on the year

Urban Edge Properties (UE) reported revenue of $110 million for Q1 FY2024, the quarter ended 31 March 2024, up 10.2% on the same quarter a year earlier. Net income was $3 million, and diluted earnings per share $0.02. The figures are the company's own, from the 10-Q it filed with the SEC on 7 May 2024.

Revenue$110 millionup 10.2%

Net income$3 million

Diluted EPS$0.02

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	110	117	n/a	n/a
Interest expense	19.6	21.5	n/a	n/a
Pre-tax income	3.1	232	n/a	n/a
Income tax	0.7	-0.0	n/a	n/a
Effective tax rate	21.4%	-0.0%	n/a
Net income	2.6	221	n/a	n/a
Net margin	2.4%	189.8%	n/a
Diluted EPS	$0.02	$1.88	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	22.9	60.2	n/a	n/a
Capital expenditure	20.2	31.0	n/a	n/a
Free cash flow	2.7	29.2	n/a	n/a
Free cash flow margin	2.5%	25.0%	n/a
Cash from investing	-44.3	-31.2	n/a	n/a
Cash from financing	-57.8	67.4	n/a	n/a
Depreciation and amortisation	39.5	32.8	n/a	n/a
Share-based compensation	2.4	1.8	n/a	n/a
Dividends paid	20.2	18.8	n/a	n/a
Dividend per share	$0.17	n/a	n/a	n/a
Diluted shares, weighted	123m	118m	n/a	n/a
Shares outstanding at period end	118m	118m	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	1,222	1,221	n/a	n/a
Debt	1,678	1,731	n/a	n/a
Other liabilities	313	327	n/a	n/a
Total liabilities and equity	3,214	3,280	n/a	n/a
Intangible assets	110	114	n/a	n/a
Cash and equivalents	67.3	101	n/a	n/a
Other assets	3,036	3,065	n/a	n/a
Total assets	3,214	3,280	n/a	n/a

Questions

What was Urban Edge Properties' revenue in Q1 FY2024?

Urban Edge Properties (UE) reported revenue of $110 million for Q1 FY2024, the quarter ended 31 March 2024, up 10.2% on the same quarter a year earlier.

How much did Urban Edge Properties earn in Q1 FY2024?

Net income for Q1 FY2024 was $3 million, and diluted earnings per share $0.02.

When did Urban Edge Properties report Q1 FY2024 results?

Urban Edge Properties filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 7 May 2024.

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	102	117	110	107	112	116	118	114	120	120	133	123
Interest expense	17.9	21.5	19.6	20.9	18.4	18.4	18.6	18.3	18.1	18.3	17.4	18.4
Pre-tax income	54.6	232	3.1	32.6	10.0	32.2	9.0	61.4	16.1	13.5	23.9	19.4
Tax rate	31%	-0%	21%	2%	5%	2%	7%	1%	4%	5%	2%	4%
Net income	36.1	221	2.6	30.8	9.1	30.1	8.2	58.0	14.9	12.4	22.6	17.9
Net margin	35%	190%	2%	29%	8%	26%	7%	51%	12%	10%	17%	15%
Diluted EPS	$0.31	$1.88	$0.02	$0.26	$0.07	$0.24	$0.07	$0.46	$0.12	$0.10	$0.18	$0.14
Operating cash flow	34.4	60.2	22.9	41.2	36.6	52.4	32.6	43.5	55.7	51.0	39.1	66.7
Capital expenditure	30.0	31.0	20.2	21.4	24.4	44.6	20.7	23.8	29.6	26.8	40.5	42.7
Free cash flow	4.4	29.2	2.7	19.9	12.2	7.8	11.9	19.6	26.1	24.2	-1.4	24.0
Dividends paid	18.8	18.8	20.2	20.2	21.2	21.3	23.9	23.9	23.9	23.9	26.4	26.5
Shares outstanding	117m	118m	118m	118m	118m	125m	125m	125m	125m	126m	126m	126m
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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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 31 March 2024, filed 7 May 2024, accession 0001611547-24-000029: the filing on EDGAR. All of Urban Edge Properties's filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install