General Growth Properties Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended Dec. 31, 2016; Provides Earnings Guidance for the Quarter Ending March 31, 2017 and Year Ending December 31, 2017
For the full year, the company reported total revenues of $2,346,446,000 against $2,403,906,000 a year ago. Operating income was $800,253,000 against $923,893,000 a year ago. Income before income taxes, equity in income of unconsolidated real estate affiliates, discontinued operations, and allocation to non-controlling interests was $1,026,004,000 against $954,855,000 a year ago. Net income attributable to common stockholders was $1,272,432,000 or $1.34 per diluted share against $1,358,624,000 or $1.43 per diluted share a year ago. EBITDA was $2,221,115,000 against $2,031,445,000 a year ago. For year, Company FFO was $1,471,250,000, or $1.53 per diluted share, as compared to $1,376,806,000, or $1.44 per diluted share, in the prior year period. Operating Capital expenditures were $120,762,000 compared to $122,147,000 a year ago.
For the quarter ending March 31, 2017, the company's expects net income attributable to ggp to be $0.12- $0.14 per share, net income attributable to common stockholders to be $0.11 - $0.13 and company FFO per dilute share to be $0.35 - $0.37. The company expects NAREIT FFO of $0.34 - $0.36, Company FFO per diluted share of $0.35 - $0.37.
For the year ending December 31, 2017, the company's expects net income attributable to ggp to be $0.63- $0.68 per share, net income attributable to common stockholders to be $0.61 - $0.66 and company FFO per dilute share to be $0.35 - $0.37. The company expects NAREIT FFO of $1.53 - $1.58, Company FFO per diluted share of $1.56 - $1.61.