Revenue: As of FY2026 Q1, the actual value is USD 190.74 M.EPS: As of FY2026 Q1, the actual value is USD 0.24, beating the estimate of USD 0.1726.EBIT: As of FY2026 Q1, the actual value is USD 63.26 M.<h4>Financial Performance (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Net Income Attributable to Stockholders: $30,378 thousand, up from $26,309 thousand in the first quarter of 2025.</li><li>Nareit FFO: Increased 4.4% to $92,922 thousand, compared to $89,048 thousand in the first quarter of 2025.</li><li>Core FFO: Increased 6.2% to $96,403 thousand, compared to $90,773 thousand in the first quarter of 2025.</li><li>Same-Center NOI: Increased 3.5% to $122,250 thousand, compared to $118,102 thousand in the first quarter of 2025.</li><li>Adjusted EBITDAre: $126,074 thousand, up from $117,001 thousand in the first quarter of 2025.</li></ul><h4>Revenues (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Total Revenues: $190,741 thousand, up from $178,311 thousand.<ul><li>Rental income: $186,281 thousand, up from $174,183 thousand.</li><li>Fees and management income: $3,445 thousand, up from $2,783 thousand.</li><li>Other property income: $1,015 thousand, down from $1,345 thousand.</li></ul></li></ul><h4>Operating Expenses (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Total Operating Expenses: $132,531 thousand, up from $128,375 thousand.<ul><li>Property operating: $32,990 thousand, up from $29,936 thousand.</li><li>Real estate taxes: $22,067 thousand, up from $21,079 thousand.</li><li>General and administrative: $11,943 thousand, down from $12,086 thousand.</li><li>Depreciation and amortization: $65,531 thousand, up from $65,274 thousand.</li></ul></li></ul><h4>Other Expenses (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Interest expense, net: -$29,772 thousand, compared to -$25,672 thousand.</li><li>Gain on disposal of property, net: $6,817 thousand, up from $5,609 thousand.</li><li>Other expense, net: -$2,013 thousand, compared to -$980 thousand.</li></ul><h4>Cash Flows (Three Months Ended March 31, 2026 vs. 2025)</h4><ul><li>Net cash provided by operating activities: $55,556 thousand, down from $60,542 thousand.</li><li>Real estate acquisitions, net: -$126,427 thousand, compared to -$139,107 thousand.</li><li>Capital expenditures: -$26,462 thousand, compared to -$26,367 thousand.</li><li>Proceeds from sale of real estate, net: $20,947 thousand, up from $6,466 thousand.</li></ul><h4>Balance Sheet Highlights (As of March 31, 2026 vs. December 31, 2025)</h4><ul><li>Total assets: $5,350,984 thousand, up from $5,286,438 thousand.</li><li>Total liabilities: $2,771,019 thousand, up from $2,697,060 thousand.</li><li>Total equity: $2,579,965 thousand, down from $2,589,378 thousand.</li><li>Total liquidity: Approximately $810.2 million.<ul><li>Comprised of cash, cash equivalents and restricted cash: $22.4 million.</li><li>Borrowing capacity available on $1.0 billion revolving credit facility: $787.9 million.</li></ul></li><li>Trailing twelve month net debt to annualized adjusted EBITDAre: 5.3x, up from 5.2x at December 31, 2025.</li><li>Outstanding debt weighted-average interest rate: 4.4%.</li><li>Outstanding debt weighted-average maturity: 5.8 years (including extension options).</li><li>Fixed-rate debt: 94.4% of total debt.</li><li>Total net debt: $2,567,095 thousand, up from $2,451,809 thousand.</li></ul><h4>Operational Metrics (As of March 31, 2026)</h4><ul><li>Wholly-owned properties: 299 properties, totaling approximately 33.7 million square feet, located in 31 states.</li><li>Leased portfolio occupancy: 97.1%.</li><li>Same-center leased portfolio occupancy: 97.3%.</li><li>Leased inline occupancy: 95.0%.</li><li>Same-center leased inline occupancy: 95.0%.</li><li>Leases executed in Q1 2026: 246 leases totaling approximately 1.6 million square feet.</li><li>Comparable rent spreads for renewal leases: 21.2%.</li><li>Comparable rent spreads for new leases: 36.2%.</li><li>Portfolio retention rate: 87.8%.</li><li>Average remaining lease term: 4.6 years for total portfolio.</li><li>ABR by Neighbor Category: 74.4% from necessity-based goods and services, 25.6% from other retail stores.</li></ul><h4>Transactional Summary (Q1 2026)</h4><ul><li>Acquisitions: $125.5 million in assets, including five shopping centers and land for future development.</li><li>Dispositions: $22.3 million in assets, including two shopping centers.</li></ul><h4>Outlook / Guidance (Full Year 2026)</h4>Phillips Edison &amp; Company, Inc. updated its full year 2026 earnings guidance, projecting Net income per share between $0.79 - $0.81, Nareit FFO per share between $2.66 - $2.71, and Core FFO per share between $2.72 - $2.78. The midpoint for Nareit FFO guidance was increased to represent 5.9% year-over-year growth, and Core FFO guidance to represent 5.8% year-over-year growth. Additionally, Same-Center NOI growth is expected to be 3.00% - 4.00%, with gross acquisitions targeted between $400,000 thousand - $500,000 thousand.

Phillips Edison REIT | 8-K: FY2026 Q1 Revenue: USD 190.74 M