Simon Property Group, Inc. (NYSE:SPG) Q2 2024 Earnings Conference Call August 5, 2024 5:00 PM ET

Company Participants

Thomas Ward - Senior Vice President, Investor Relations
David Simon - Chairman, Chief Executive Officer and President
Brian McDade - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jeff Spector - Bank of America
Samir Khanal - Evercore ISI
Caitlin Burrows - Goldman Sachs
Alexander Goldfarb - Piper Sandler
Michael Goldsmith - UBS
Craig Mailman - Citigroup
Juan Sanabria - BMO Capital Markets
Ronald Kamdem - Morgan Stanley
Haendel St. Juste - Mizuho Securities
Vince Tibone - Green Street
Greg McGinniss - Scotiabank
Floris van Dijkum - Compass Point
Linda Tsai - Jefferies
Mike Muller - JPMorgan
Ki Bin Kim - Truist Securities

Operator

Greetings. Welcome to Simon Property Group's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note this conference is being recorded.

I will now turn the conference over to Tom Ward, Senior Vice President of Investor Relations. Thank you. You may begin.

Thomas Ward

Thank you, Sherry, and thank you, all, for joining us this evening. Presenting on today's call are David Simon, Chairman, Chief Executive Officer and President; and Brian McDade, Chief Financial Officer. A quick reminder that statements made during this call may contain forward-looking statements within the meaning of the Safe-Harbor of the Private Securities Litigation Reform Act of 1995, and actual results may differ materially due to a variety of risks, uncertainties and other factors.

We refer you to today's press release and our SEC filings for a detailed discussion of the risk factors relating to those forward-looking statements. Please note that this call includes information that may be accurate only as of today's date. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included within the press release and the supplemental information in today's Form 8-K filing.

Both the press release and supplemental information are available on our IR website at investors.simon.com. Our conference call this evening will be limited to one hour. For those who would like to participate in the question-and-answer session, we ask that you please respect our request to limit yourself to one question.

I'm pleased to introduce David Simon,

David Simon

Good evening, everyone. I'm pleased with our financial and operational performance in the second quarter. We are seeing increased leasing volumes, occupancy gains, shopper traffic, and retail sales volumes resulted in the company's highest level of real estate NOI for the second quarter in our company's history. Demand for our space from a broad spectrum of tenants is strong and steady.