Scentre Group Posts Strong Start to 2026 and Confirms Earnings Guidance

Scentre Group ( (AU:SCG) ) has shared an update.

Scentre Group reported a solid operating start to 2026, with customer visits to its 42 Westfield destinations reaching 160 million to 19 April, up 3.1% year on year, and total business partner sales rising 5.0% to $7.0 billion in the March quarter. Portfolio occupancy climbed to 99.8%, specialty sales and rents both increased more than 5%, and 636 leasing deals were completed with positive releasing spreads, underpinned by continued investment including a $240 million redevelopment of Westfield Bondi.

Capital management was active, highlighted by the $864 million sale of a 19.9% stake in Westfield Sydney to Australian Retirement Trust, the redemption of US$750 million in 2030 senior bonds, a new $750 million six-year domestic senior note issue, and the divestment of a $50 million fund interest linked to Westfield Chermside. On the back of these metrics, Scentre affirmed its 2026 guidance for at least 4% growth in funds from operations and distributions, while cautioning that geopolitical and macroeconomic volatility could influence consumer conditions and is being closely monitored.

The most recent analyst rating on (AU:SCG) stock is a Buy with a A$4.41 price target. To see the full list of analyst forecasts on Scentre Group stock, see the AU:SCG Stock Forecast page.

More about Scentre Group

Scentre Group, listed on the ASX as SCG, is a retail property company that owns and operates 42 Westfield-branded shopping destinations across Australia and New Zealand, encompassing more than 12,000 outlets. The group focuses on creating high-traffic lifestyle, entertainment and retail hubs aimed at driving strong economic activity for its retail partners and providing community-centric experiences for customers.

Average Trading Volume: 12,319,197

Technical Sentiment Signal: Hold

Current Market Cap: A$18.57B

Learn more about SCG stock on TipRanks’ Stock Analysis page.