S&P 500
7,485.20
-0.19%
Dow Jones
52,332.20
0.00%
Nasdaq 100
29,831.80
-1.50%
Russell 2000
3,010.73
-0.43%
FTSE 100
10,488.40
-0.44%
Nikkei 225
69,547.30
-2.06%
Simon Property Group

Simon Property Group (SPG) Q2 2025 Earnings

Reported Aug 4, 2025 at 4:08 PM ET · SEC Source

Q2 25 EPS

$1.70

BEAT +9.18%

Est. $1.56

Q2 25 Revenue

$1.50B

BEAT +7.95%

Est. $1.39B

vs S&P Since Q2 25

+22.0%

BEATING MARKET

SPG +40.8% vs S&P +18.8%

Market Reaction

Did SPG Beat Earnings? Q2 2025 Results

Simon Property Group posted a standout second quarter, with earnings per share of $1.70 beating the $1.56 consensus estimate by 9.18% and revenue of $1.50 billion topping expectations by 7.95%, representing 2.8% growth year over year. The mall giant'… Read more Simon Property Group posted a standout second quarter, with earnings per share of $1.70 beating the $1.56 consensus estimate by 9.18% and revenue of $1.50 billion topping expectations by 7.95%, representing 2.8% growth year over year. The mall giant's outperformance was anchored by continued strength across its domestic portfolio, where U.S. Malls and Premium Outlets occupancy climbed to 96.0% from 95.6% a year ago and domestic property NOI grew 4.2%, reflecting unabated retailer demand for high-quality space. Real Estate FFO, the REIT's key operating metric, rose 4.1% to $3.05 per diluted share, reinforcing the underlying health of the business. Management responded with a raised full-year 2025 Real Estate FFO guidance range of $12.45 to $12.65 per diluted share and lifted the quarterly dividend 4.9% to $2.15 per share. The quarter also carried notable leadership news, with Eli Simon elevated to Chief Operating Officer, adding a succession dimension to an already eventful reporting period.

Key Takeaways

  • • U.S. Malls and Premium Outlets occupancy increased to 96.0% from 95.6% year-over-year
  • • Base minimum rent per square foot increased 1.3% to $58.70
  • • Domestic property NOI increased 4.2% and portfolio NOI increased 4.7%
  • • The Mills occupancy reached 99.3%, up from 98.2%
  • • Trailing 12-month retailer sales per square foot of $736
24/7 Wall St

SPG YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

“We delivered another successful quarter, driven by the quality of our portfolio and disciplined execution. Our strategic investments and A-rated balance sheet position us for sustained long-term cash flow growth. Today, we are raising our dividend and increasing the mid-point of our full-year 2025 Real Estate FFO guidance.”

— David Simon, Q2 2025 Earnings Press Release

Back to SPG Stock Page