| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 3.45 | 24.1% |
| Total Income | 3.45 | 24.1% |
| Expenditure | -27.13 | 14.8% |
| PBT | — | |
| Net Profit | 30.38 | 15.5% |
| OPM | — | |
| NPM | 100.00% | 0.00pp |
| EPS | 0.24 | 14.3% |
Phillips Edison & Company Reports Q1 2026 Results
24 Apr 2026 · 24 Apr, 1:47 am
Summary
Phillips Edison & Company reported its financial and operating results for the first quarter of 2026. Net income attributable to stockholders was $30.4 million, or $0.24 per diluted share. Nareit FFO increased by 4.4% to $92.9 million, or $0.67 per diluted share, while Core FFO increased by 6.2% to $96.4 million, or $0.69 per diluted share. Same-center NOI increased by 3.5% to $122.3 million. The company updated its full year 2026 earnings guidance, reflecting confidence in continued growth.
Key Highlights
- 1
Phillips Edison & Company reported Nareit FFO of $0.67 per diluted share, representing a 4.7% year-over-year increase for Q1 2026.
- 2
Core FFO for Q1 2026 was reported at $0.69 per diluted share, a 6.2% increase year-over-year.
- 3
Same-center NOI increased by 3.5% year-over-year in the first quarter of 2026.
- 4
The company acquired $125.5 million in assets during the first quarter of 2026, including five shopping centers and land for future development.
- 5
Leased portfolio occupancy remained strong at 97.1% as of March 31, 2026.
- 6
Comparable portfolio renewal leases and comparable inline renewal leases were executed at a rent spread of 21.2% during the quarter.
- 7
The midpoint of full year 2026 Core FFO guidance represents 5.8% year-over-year growth.
Management Comments
Jeff Edison
We are pleased to report another quarter of solid results, including Core FFO per share growth of 6.2%, reflecting the strength of our high-quality portfolio. Our grocery-anchored and necessity-based shopping centers are driving steady traffic and market-leading pricing power. While the macroeconomic environment remains uncertain, PECO is positioned to provide both stability and continued growth. Our disciplined execution and the continued strength of the operating environment give us confidence in our ability to increase guidance for Core FFO per share, which reflects year-over-year growth of 5.8% at the midpoint.
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