EastGroup Properties (EGP) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - EastGroup Properties (EGP) reported revenue of $159.09 million for Q2 2024, a year-over-year increase of 13.7% [1] - The earnings per share (EPS) for the same period was $2.05, compared to $0.97 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $156.96 million, resulting in a surprise of +1.36% [1] - The company met the consensus EPS estimate of $2.05, showing no surprise in EPS [1] Revenue Breakdown - Income from real estate operations was $157.33 million, slightly above the average estimate of $156.89 million from seven analysts, reflecting a year-over-year change of +13.3% [3] - Other revenue amounted to $1.76 million, significantly higher than the estimated $0.17 million from three analysts [3] Stock Performance - EastGroup Properties shares have returned +13.9% over the past month, outperforming the Zacks S&P 500 composite's +2% change [4] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [4]