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Industrial Logistics Properties Trust (ILPT)
NASDAQ:ILPT
Earnings Data
Report Date
Apr 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.12Last Year’s EPS
-0.33Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents strong operating and financial momentum: record leasing activity, meaningful rent roll-ups, large normalized FFO growth (+113% YoY), improved occupancy and NOI, notable shareholder returns and balance sheet actions that reduced interest-rate exposure. Headwinds include concentration risk with major tenants, remaining leverage and JV refinance timing, limited near-term disposition optionality, and some vacant / hard-to-place large assets (notably a Hawaii land parcel). On balance, the positives — including outsized FFO growth, high retention, robust leasing pipeline and demonstrated balance sheet improvements — materially outweigh the measurable risks called out on the call.Company Guidance
Record Quarterly Leasing Volume and Strong Rent Growth
Executed nearly 4.0 million square feet of leasing in Q4 at a weighted-average lease term of 9.5 years and a rent roll-up of 25.7%, marking the fifth consecutive quarter of double-digit rent growth.
Material Normalized FFO and NOI Improvement
Q4 normalized FFO was $18.9 million ($0.29 per share), at the high end of guidance — up 113% year-over-year and 9% sequentially. Same-property NOI was $88.2 million and same-property cash-basis NOI was $85.7 million, with same-property cash-basis NOI up 5.2% year-over-year.
Exceptional Total Shareholder Return
Generated total shareholder return of more than 55% in 2025, ranking ILPT third among all U.S. REITs for the year.
Portfolio Scale and High Occupancy
Owned 409 properties across 39 states (~60.0 million sq ft) with consolidated occupancy of 94.5% (up 40 basis points quarter-over-quarter) and a weighted average lease term of 7 years. Hawaii footprint: 226 properties totaling 16.7 million sq ft.
High-Quality Tenant Base and Strong Retention
More than 76% of annualized revenues from investment-grade tenants or secure Hawaii land leases. Tenant retention rate was 96% in Q4; notable renewals included Amazon (2.3 million sq ft, 26.8% roll-up), Restoration Hardware (1.2 million sq ft, 29% roll-up), and FedEx (152,000 sq ft, 11.7% roll-up).
Meaningful Leasing Pipeline and Embedded Growth
2025 leasing activity totaled 7.3 million sq ft (42 new/renewals and 2 rent resets) expected to add ~$10.6 million in annualized rental revenue (~55% or ~$5.8 million not yet commenced). Leasing pipeline is 6.4 million sq ft with 3.8 million sq ft in advanced negotiation; management expects ~20% roll-ups on the Mainland and ~30% in Hawaii.
Balance Sheet Improvements and Interest Rate Hedging
Refinanced $1.2 billion of floating-rate debt into fixed-rate debt in June, producing annual cash savings of more than $8 million. Net debt leverage improved to 11.8x (from 12.4x a year ago). All consolidated debt is fixed or capped with a weighted-average interest rate of 5.43% as of Dec 31, 2025.
Liquidity Position and Q1 Guidance
Ended the quarter with $95 million cash and $88 million restricted cash. Q1 2026 guidance: normalized FFO $0.29–$0.31 per share and adjusted EBITDAre $84–$85 million; expected interest expense of $61.5 million (includes $57 million cash interest and $4.5 million noncash).
ILPT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ILPT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $5.55 | $5.77 | +3.96% |
Oct 28, 2025 | $5.75 | $5.21 | -9.32% |
Jul 29, 2025 | $5.42 | $5.30 | -2.36% |
Apr 29, 2025 | $2.55 | $2.55 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Industrial Logistics Properties Trust (ILPT) report earnings?
Industrial Logistics Properties Trust (ILPT) is schdueled to report earning on Apr 28, 2026, Before Open (Confirmed).
What is Industrial Logistics Properties Trust (ILPT) earnings time?
Industrial Logistics Properties Trust (ILPT) earnings time is at Apr 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ILPT EPS forecast?
ILPT EPS forecast for the fiscal quarter 2026 (Q1) is -0.12.