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Phillips Edison & Company, Inc. (PECO)
NASDAQ:PECO
Earnings Data
Report Date
May 06, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.17Last Year’s EPS
0.21Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operational and financial picture: robust FFO and NOI growth in 2025, strong leasing results, high occupancy and retention, substantial liquidity, disciplined acquisition targets and an actionable pipeline that supports 2026 guidance. Headwinds include heightened acquisition competition, a modest uptick in bad debt to ~78 bps (expected to remain stable), leverage/credit rating scale limitations, and macro retail risks. Overall, management conveyed confidence in executing growth plans while remaining disciplined on underwriting and capital allocation.Company Guidance
Strong FFO and Core FFO Growth
Fiscal 2025 NAREIT FFO per share grew 7.2% and core FFO per share grew 7.0%; fourth quarter NAREIT FFO was $88.8M ($0.64 per diluted share) and fourth quarter core FFO was $91.1M ($0.66 per diluted share). 2026 guidance implies mid-single digit growth for NAREIT and core FFO, with NAREIT FFO per share guidance up ~5.5% and core FFO per share up ~5.4% year-over-year at the midpoint.
Same-Center NOI and Rent Momentum
Same-center NOI grew 3.8% in 2025 and 2026 same-center NOI guidance is 3.0%–4.0%. Leasing delivered comparable renewal rent spreads of 20% and comparable new leasing rent spreads of 34.3% in Q4, with average annual in-line rent bumps of 2.7% on executed deals.
Exceptional Occupancy and Retention
Portfolio leased occupancy ended 2025 at 97.3%; anchor occupancy 98.7%; record high in-line leased occupancy of 95.1% (up 30 bps sequentially). Portfolio retention rate was 93%, supporting lower downtime and TI costs.
High Leasing Activity and Value Creation
PECO executed 1,026 leases totaling ~6.0 million square feet in 2025, driving property-level value and delivering strong first-year rent increases and long-term rent escalators.
Disciplined Acquisition & Pipeline
Acquired approximately $400M (PECO share) in 2025 and set 2026 gross acquisition guidance of $400M–$500M (PECO share). Management targets unlevered IRRs of ~9% for grocery-anchored deals and >10% for Everyday Retail; visible pipeline includes ~$150M in assets expected to close by Q1/Q2.
Everyday Retail Growth Opportunity
Everyday Retail portfolio (~9 centers, ~$180M) has produced outsized leasing spreads (new leasing ~45%, renewals ~27%); management targets growing this line toward $700M–$1B over several years and expects unlevered returns north of 10% on these assets.
Development/ Redevelopment Execution
20 projects under active construction with ~ $70M total investment and targeted yields of 9%–12%; 23 projects stabilized in 2025 delivering >400,000 sq ft and incremental NOI of ~$6.8M annually.
Strong Liquidity and Financing Flexibility
Approximately $925M of liquidity as of December 31, 2025; net debt / trailing 12-month adjusted EBITDA ~5.2x (5.1x last quarter annualized). Management can acquire ~$300M annually and remain within target leverage without issuing equity; guidance does not assume equity issuance.
Active Portfolio Recycling
Sold ~$145M of assets in 2025 and plans $100M–$200M of dispositions in 2026 to recycle capital into higher-IRR opportunities; examples include assets sold around mid-5% cap rates where appropriate.
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 |
|---|---|---|---|
Feb 05, 2026 | $37.71 | $37.42 | -0.77% |
Oct 23, 2025 | $34.00 | $34.24 | +0.70% |
Jul 24, 2025 | $34.02 | $33.83 | -0.58% |
Apr 24, 2025 | $34.17 | $34.04 | -0.40% |
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, Inc. (PECO) report earnings?
Phillips Edison & Company, Inc. (PECO) is schdueled to report earning on May 06, 2026, TBA (Confirmed).
What is Phillips Edison & Company, Inc. (PECO) earnings time?
Phillips Edison & Company, Inc. (PECO) earnings time is at May 06, 2026, TBA (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 PECO EPS forecast?
PECO EPS forecast for the fiscal quarter 2026 (Q1) is 0.17.