General Growth Properties (GGP) 4Q15 Results: Company Raises Key

Executive Summary

• In 4Q15, real estate investment company General Growth Properties reported strong, 14.2% funds from operations (FFO) revenue growth, up from $357 million a year earlier.
• Diluted FFO EPS increased by 13.8%, to $0.43 from $0.38 in the prior year period, beating the consensus estimate of $0.42.
• The company had revenue of $644.6 million for the quarter, beating the consensus estimate of $625.8 million.
• General Growth Properties expects continued growth in 2016 despite challenging macroeconomic conditions. It raised its full-year EPS guidance to $1.52–$1.56, compared with the consensus estimate of $1.54 and prior guidance of $1.51–$1.55.