Phillips Edison & Company (PECO)
NASDAQ:PECO
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Earnings Data
Report Date
Jul 30, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.18Last Year’s EPS
0.1Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive operating and financial picture: solid growth in NAREIT and core FFO per share, healthy same-center NOI growth, high occupancy, strong leasing spreads, active accretive acquisitions and development, improved liquidity and a lower-than-expected Q1 bad debt result. Management raised FFO guidance and reaffirmed NOI and acquisitions targets, signaling confidence. The primary negatives are macro and market risks (rate volatility, public vs private valuation spread), modestly elevated leverage metrics to monitor, and execution risk tied to expansion into non-core everyday retail and development. Overall, the positives from operating performance, liquidity and raised guidance outweigh the manageable risks discussed on the call.Company Guidance
FFO and Core FFO Growth
NAREIT FFO per share grew 4.7% in Q1; core FFO per share grew 6.2% year-over-year. Updated 2026 guidance implies NAREIT FFO per share growth of ~5.9% and core FFO per share growth of ~5.8% at the midpoint vs 2025.
Same-Center NOI and Leasing Execution
Same-center NOI increased 3.5% in the quarter. Leased portfolio occupancy remained very high at 97.1% (anchors 98.4%, inline 95%). Comparable renewal rent spreads were 21.2% and comparable new rent spreads were 36.2%; inline leasing deals showed average annual rent bumps of 2.7%.
Strong Balance Sheet and Liquidity
Ended the quarter with $810 million in liquidity. Completed $350 million public bond offering at 4.75% due 2033; weighted average interest rate on outstanding debt 4.4%; weighted average maturity 5.8 years (incl. extension options); 94% of total debt is fixed-rate (including JV share).
Active Acquisition and Development Activity
Year-to-date acquisition activity of $185 million (five grocery-anchored centers, three everyday retail centers, and land). Pipeline includes ~$150 million awarded or under contract expected to close by end of Q2. 19 projects under active construction (~$74 million total investment) with estimated yields of 9%–12%; six projects stabilized in Q1 adding ~87,000 sqft and ~$1.7 million incremental NOI annually.
Lower-Than-Expected Bad Debt in Q1
Bad debt was ~60 basis points of revenue in Q1, below 2025 full-year level (78 bps), and management expects 2026 bad debt to be in line with 2025.
Pricing Power and Tenant Demand
Management reports strong retailer demand across necessity-based categories, with 74% of rents from necessity-based goods and services; noted market-leading pricing power and high retention pipeline (125 renewals out for signature).
Affirmed and Raised Guidance
Reiterated full-year 2026 same-center NOI guidance of 3%–4% and reaffirmed gross acquisitions target of $400M–$500M (company share); raised FFO guidance ranges after Q1 performance, reflecting confidence in the operating environment and acquisition momentum.
Asset Recycling and Capital Flexibility
Year-to-date dispositions of $29 million (company share) with stated plans to pursue additional dispositions and a diversified toolkit for capital (debt issuance, dispositions, JVs, equity when markets are favorable).
PECO 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
PECO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $39.04 | $39.46 | +1.08% |
Feb 05, 2026 | $37.50 | $37.21 | -0.77% |
Oct 23, 2025 | $33.81 | $34.05 | +0.70% |
Jul 24, 2025 | $33.83 | $33.63 | -0.58% |
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 Phillips Edison & Company (PECO) report earnings?
Phillips Edison & Company (PECO) is schdueled to report earning on Jul 30, 2026, TBA (Confirmed).
What is Phillips Edison & Company (PECO) earnings time?
Phillips Edison & Company (PECO) earnings time is at Jul 30, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is PECO EPS forecast?
PECO EPS forecast for the fiscal quarter 2026 (Q2) is 0.18.