Revenue: As of FY2025 Q2, the actual value is USD 1.498 B.EPS: As of FY2025 Q2, the actual value is USD 1.7, beating the estimate of USD 1.4714.<h3>Segment Revenue</h3><ul><li>Lease Income: $1,379,454 for the three months ended June 30, 2025, compared to $1,315,740 for the same period in 2024. For the six months ended June 30, 2025, lease income was $2,746,882 compared to $2,618,412 for the same period in 2024.</li><li>Management Fees and Other Revenues: $37,931 for the three months ended June 30, 2025, compared to $33,186 for the same period in 2024. For the six months ended June 30, 2025, management fees and other revenues were $71,723 compared to $62,642 for the same period in 2024.</li><li>Other Income: $81,074 for the three months ended June 30, 2025, compared to $109,340 for the same period in 2024. For the six months ended June 30, 2025, other income was $152,867 compared to $219,802 for the same period in 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Net Income: $643,681 for the three months ended June 30, 2025, compared to $569,435 for the same period in 2024. For the six months ended June 30, 2025, net income was $1,121,541 compared to $1,410,591 for the same period in 2024.</li><li>Depreciation and Amortization: $339,058 for the three months ended June 30, 2025, compared to $310,016 for the same period in 2024. For the six months ended June 30, 2025, depreciation and amortization were $667,109 compared to $617,384 for the same period in 2024.</li><li>Interest Expense: $232,724 for the three months ended June 30, 2025, compared to $221,338 for the same period in 2024. For the six months ended June 30, 2025, interest expense was $459,720 compared to $451,960 for the same period in 2024.</li><li>Home and Regional Office Costs: $57,564 for the three months ended June 30, 2025, compared to $50,481 for the same period in 2024. For the six months ended June 30, 2025, home and regional office costs were $122,630 compared to $111,204 for the same period in 2024.</li><li>General and Administrative Expenses: $14,298 for the three months ended June 30, 2025, compared to $10,839 for the same period in 2024. For the six months ended June 30, 2025, general and administrative expenses were $26,927 compared to $19,970 for the same period in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Operating Cash Flow: $2,042,550 for the six months ended June 30, 2025, compared to $1,836,254 for the same period in 2024.</li><li>Free Cash Flow: - $1,088,423 for the six months ended June 30, 2025, compared to $588,166 for the same period in 2024.</li></ul><h3>Unique Metrics</h3><ul><li>Average Base Minimum Rent per Square Foot: $58.70 for U.S. Malls and Premium Outlets as of June 30, 2025, compared to $57.94 as of June 30, 2024.</li><li>Ending Occupancy: 96.0% for U.S. Malls and Premium Outlets as of June 30, 2025, compared to 95.6% as of June 30, 2024.</li></ul><h3>Future Outlook and Strategy</h3><h4>Core Business Focus</h4><ul><li>Growth Targets: Focus on enhancing profitability and market share of existing assets through redevelopment and expansion projects, including the addition of anchors, big box tenants, and restaurants.</li><li>Market Expansion: Internationally, ownership in 38 Premium Outlets, Designer Outlets, and Luxury Outlet properties primarily located in Asia, Europe, and Canada.</li><li>Operational Improvements: Improved operating performance and solid core business fundamentals in 2025, with increased lease income and occupancy rates.</li></ul><h4>Non-Core Business</h4><ul><li>Divestitures: Disposition of properties that no longer meet strategic criteria or are not primary retail venues within their trade area.</li><li>Emerging Segments: Investments in retail operations (such as Catalyst Brands LLC), an e-commerce venture (Rue Gilt Groupe), and Jamestown (a global real estate investment and management company).</li></ul><h4>Priority</h4><ul><li>Concrete Projections: Projected net cash funding required to complete new development and redevelopment projects currently under construction in the remainder of 2025 and 2026 is approximately $420 million.</li><li>Quantitative Indicators: Expected stabilized return on invested capital in the range of 8-10% for all new development, expansion, and redevelopment projects.</li></ul>

Simon Property | 10-Q: FY2025 Q2 Revenue: USD 1.498 B