General Growth Properties, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015 and Full Year Ending December 31, 2015
For the year, total revenues were $2,535,559,000 against $2,486,017,000 a year ago. Operating income was $941,513,000 against $840,416,000 a year ago. Income from continuing operations was $398,011,000 or $0.39 per diluted share against of $106,194,000 or $0.32 per diluted a year ago. Net income attributable to common stockholders was $649,914,000 or $0.69 per diluted and basic share against $288,450,000 or $0.31 per diluted and basic share a year ago. Company FFO per share increased 13.7% to $1.32 per diluted share from $1.16 per diluted share in the prior year period. Company FFO increased 9.4% to $1,256 million from $1,148 million in the prior year period. Company EBITDA increased 4.9% to $2,088 million from $1,991 million in the prior year period.
For the year ending December 31, 2015, FFO is expected to be $1.40 to $1.46 per diluted share. Adjusted FFO is expected to be $1.35 to $1.41 per share. Net income attributable to common stockholders in the range $0.51 to $0.57 per share. Net income attributable to company in the range $0.53 to $0.59 per share. Same Store NOI growth is expected to be approximately 4.5% for the year ending December 31, 2015.
For the first quarter ending March 31, 2015, FFO is expected to be $0.31 to $0.33 per diluted share. Adjusted FFO is expected to be $0.30 to $0.32 per share. Net income attributable to common stockholders in the range $0.09 to $0.11 per share. Net income attributable to company in the range $0.09 to $0.11 per share. Same Store NOI growth is expected to be approximately 4.0% for the first quarter 2015.