Parkway Properties Q1 Profit Beats Estimates - Quick Facts

(RTTNews) - Parkway Properties, Inc. (PKY) reported first-quarter net income to shareholders of $7.3 million or $0.07 per share, compared to $10.9 million or $0.11 per share, prior year. Income from continuing operations attributable to Parkway Properties was $0.07 per share, compared to $0.01, last year.

Funds from operations was $39.7 million, compared to $35.0 million, prior year. FFO per share was $0.34, flat with last year. Recurring FFO per share was $0.34, for the quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.33 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $119.68 million from $104.11 million last year. Analysts expected revenue of $117.96 million for the quarter.

Parkway tightened its 2015 FFO outlook to a range of $1.34 to $1.40 per share for the Parkway Portfolio and adjusted its earnings per share outlook to a range of $0.25 to $0.31 for the Parkway Portfolio. Analysts expect the company to report 2015 earnings per share of $1.38.