CBL - CBL Properties FFO of $1.56 misses by $0.30 revenue of $136.36M

2023-05-10 17:03:13 ET

• CBL Properties press release ( NYSE: CBL ): Q1 FFO of $1.56 misses by $0.30 .
• Revenue of $136.36M (-2.7% Y/Y).
• FFO, as adjusted, per share for the first quarter 2023, was $1.56 compared with $2.05 for the first quarter 2022.
• As of March 31, 2023, the Company had $282.0 million of unrestricted cash and marketable securities.
• CBL's Board of Directors declared a regular cash dividend for the second quarter 2023 of $0.375 per share, representing an annualized dividend of $1.50 per share.
• CBL maintains 2023 FFO, as adjusted, per share, guidance in the range of $5.85 - $6.47 and 2023 same-center NOI guidance in the range of $418 million - $440 million.

• OUTLOOK AND GUIDANCE

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