Quarterly ResultMay 6, 2026, 04:26 PM
Service Properties Trust Q1 Net Loss $151.2M; Completes Debt Refinancing
AI Summary
Service Properties Trust announced its first quarter 2026 financial results, reporting a net loss of $151.2 million and Normalized FFO of $7.4 million. The company made significant progress on its strategic transformation by addressing over $1.5 billion of debt maturities through a $745 million asset-backed securitization and a $575 million equity raise. SVC also provided updated full-year 2026 guidance, with Normalized FFO projected between $124.0 million and $144.0 million.
Key Highlights
- Service Properties Trust reported Q1 2026 net loss of $151.2 million, or $0.91 per common share.
- Normalized FFO for Q1 2026 was $7.4 million, or $0.04 per common share.
- Adjusted EBITDAre for Q1 2026 reached $107.5 million.
- Redeemed $300.0 million of 4.95% senior unsecured notes due 2027 and $700.0 million of 8.375% senior guaranteed unsecured notes due 2029.
- Issued $745.0 million in net lease mortgage notes at a 5.96% weighted average coupon rate.
- Raised $542.3 million net proceeds from an April 2026 equity offering of 479.2 million common shares.
- Redeemed $450.0 million of 5.50% senior guaranteed unsecured notes due 2027 and $100.0 million of 4.95% senior unsecured notes due 2027 in April/May 2026.
- Full Year 2026 Normalized FFO guidance is $124.0 million to $144.0 million, or $0.24 to $0.27 per common share.