CINCINNATI - Phillips Edison & Company, Inc. (NASDAQ:PECO), a leading firm specializing in grocery-anchored shopping centers, has scheduled its earnings release for the fourth quarter and full year of 2023. The announcement will take place on February 8, 2024, after the market closes. The company will follow up with an earnings conference call and webcast on the next day, Friday, February 9, 2024, at 12:00 p.m. Eastern Time.
The call will include remarks from Jeff Edison, Chairman and Chief Executive Officer; Bob Myers, President; Devin Murphy, Managing Director; and John Caulfield, Chief Financial Officer. Participants can join the call using the toll-free dial-in number 1 (888) 210-4659 or the toll number 1 (646) 960-0383 with the conference ID 2035308. Additionally, a live webcast will be accessible, and a replay will be available shortly after the presentation concludes.
Founded in 1991, Phillips Edison & Company has become one of the nation's most prominent owners and operators of shopping centers anchored by grocery stores that cater to omni-channel shopping experiences. As of September 30, 2023, PECO managed 295 shopping centers, including 275 wholly-owned properties across 31 states, totaling 31.4 million square feet. The company's portfolio features a variety of national and regional retailers providing essential goods and services.
PECO's top grocery anchors comprise well-known chains such as Kroger (NYSE:KR), Publix, Albertsons (NYSE:ACI), and Ahold Delhaize, reflecting the company's commitment to strong market presence and necessity-based retail.
This announcement is based on a press release statement from Phillips Edison & Company, Inc.
InvestingPro Insights
As Phillips Edison & Company (PECO) gears up to release its fourth quarter and full-year earnings, investors are looking at the company's financial health and market position. According to real-time data from InvestingPro, PECO boasts a market capitalization of $14.62 billion and a P/E ratio of 18.35, which indicates the company's earnings relative to its share price. In terms of performance, the company has witnessed a gross profit margin of an impressive 92.39% over the last twelve months as of Q3 2023, showcasing its efficiency in managing costs relative to revenue.
InvestingPro Tips highlight two key aspects that may interest potential investors: PECO has a high earnings quality, with free cash flow exceeding net income, and analysts anticipate sales growth in the current year. These factors suggest that PECO could be a robust investment with potential for growth. Moreover, the company has maintained dividend payments for 26 consecutive years, which might appeal to income-focused investors.
For those looking to delve deeper into PECO's financials and future prospects, InvestingPro offers additional insights and tips. Currently, there are 10 more InvestingPro Tips available, providing a comprehensive analysis for informed decision-making. Interested investors can take advantage of the special New Year sale on an InvestingPro subscription, now with discounts of up to 50%. Plus, using coupon code sfy24 will get you an additional 15% off a 2-year InvestingPro+ subscription.
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