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Kimco Realty Corp  (KIM)
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EARNINGS REPORT by CSIMarket

Impairment charge hurt Second quarter profits


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Kimco Realty Corp profitable in second quarter 2017 despite impairment charges of $61 million, company raises it's earnings guidance.



Sales growth of 1.95 %, could not prevent income contraction of -32.61 % in the second quarter 2017, compare to same quarter a year ago. Sales were at $297 millions and eps at $0.31.

In comparison to previous quarter eps more than doubled by 106.67 % from $0.15 per share and Sales increased by 1.22 % from $294 millions.

Net income of $155 millions in the second quarter 2017 fell by -24.49 % from $205 millions in the corresponding period a year before.

Company earnings were squeezed by $61 million asset impairment, other weise Kimco Realty Corp would achieve higher net margin in the second quarter 2017. Kimco Realty Corp shifted it's focus on improving sales in the second quarter 2017, as a result net margin eased to 52.05%. Company said it sees now it's eps between $1.30 and $1.42, an improvement by $0.08 compare to previous guidance.


Kimco Realty Corp is expected to report next financial results on November 06, 2017.
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