Q1 total revenue of $198.0M exceeds the $197.2M consensus estimate; declines from $212.7M a year ago.
CBL -1.0% in after-hours trading.
Q1 total portfolio same-center NOI fell 5.3%.
Portfolio occupancy increased 20 basis points to 91.3% at March 31, 2019 vs. 91.1% at March 31, 2018.
Sees achieving 2019 adjusted FFO per share within its previously issued guidance of $1.41-$1.46.
Guidance includes a reserve of $5.0M-$15.0M for potential future unbudgeted loss in rent from tenant bankruptcies, store closures, or lease modifications.
CBL currently expects to use about $6M-$8M of the reserve.
Conference call on May 1 at 11:00 AM ET.
Previously: CBL & Associates Properties misses by $0.04, beats on revenue (April 30)
Now read: CBL & Associates: Refinance Thoughts »
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