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Grainger PLC (GB:GRI)
LSE:GRI
UK Market
GRI
Grainger
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Grainger (GRI) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
Nov 19, 2026
TBA (Confirmed)
Period Ending
2026 (Q4)
Consensus EPS Forecast
―
Last Year’s EPS
0.2
Same Quarter Last Year
Analyst Consensus
Strong Buy
Based on 5 Analysts Ratings

Earnings Call Summary

Q2 2026
Earnings Call Date:May 14, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial picture: robust rental growth, high occupancy, disciplined capital recycling, clear earnings and dividend guidance, margin expansion driven by technology and scale, and proactive refinancing/deleveraging plans. The company acknowledged manageable headwinds — a modest NTA decline tied to a 100bp yield widening, timing disruption to disposals, ongoing cost pressures, interest‑rate sensitivity during the rebasing period, and a persistent share‑price discount to NTA — but articulated clear mitigation actions and targets. On balance the highlights substantially outweigh the lowlights.
Company Guidance
Grainger reiterated that it is on track for c.£60m EPRA earnings this year (a 12% increase from £54m) and c.£72m by FY29 (c.35% growth), assuming long‑run like‑for‑like rental growth of 3–3.5% (H1 like‑for‑like +3.1%) and with total rents up ~7.8% in H1; occupancy remains high at c.95–97% (around 96%), annual customer renewals ~61%, operational costs ~25% of gross rents and central overheads broadly flat at c.£36m (with a further £2m saving), while each new home adds an incremental margin of ~75% driving EBITDA margin expansion from 54% (FY24) to 56% (FY25) and guided to 60%+ by FY29. The group is recycling c.£850m of non‑core assets (YTD disposals £82m, on track for c.£175–200m), targeting deleveraging of £300–350m to net debt ~£1.1bn (LTV ~30%, net debt/EBITDA ~8x), models a rebased cost of debt around 5.5% (noting current fixes locked in mid‑3s for ~2 years), and has refinanced c.£540m of facilities to 2033, trimming banking margins by ~£1m p.a.
Strong rental performance
Total rental income increased ~7.8% (referred to as nearly 8%); like‑for‑like rental growth of 3.1%; occupancy remained high at ~96% (range 95–97%).
Clear earnings and dividend guidance
EPRA earnings guidance of GBP 60m for FY26 (12% growth on prior year GBP 54m) and GBP 72m by FY29 (35% growth). H1 EPRA earnings up 4% and dividend per share up 3%. REIT conversion commits to paying ≥90% of property‑related profits and full EPRA coverage expected by FY28.
Locked‑in pipeline delivering income
Committed on‑site pipeline is providing predictable income and is core to guidance (management cites on‑site pipeline delivering material additional rent). Notable scheme contributions: Merrick (Southall) ~GBP 9m p.a., Mint (Guildford) ~GBP 3m p.a., TfL JV ~GBP 2m p.a.
Capital recycling and portfolio transformation
Transformed over the last decade: ~GBP 2bn recycled out and ~GBP 3bn invested into build‑to‑rent; GBP 700m sold since Sep 2022. Year‑to‑date non‑core disposals ~GBP 82m with management on track for GBP 175–200m disposals to fund growth.
Operational efficiency and margin expansion
Platform scale and tech drive efficiency: central costs flat at ~GBP 36m over 10 years with an additional GBP 2m of cost removal. Incremental margin per new home ~75%. EBITDA margin progressed from 54% (FY24) to 56% (FY25) and guided to 60%+ by FY29.
Balance sheet actions and refinancing
Refinanced ~GBP 540m of facilities extended to 2033, reducing banking margins and saving ~GBP 1m pa. Management has fixed a large portion of debt (mid‑3% fixes earlier) and plans to deleverage by ~GBP 300–350m to target net debt ~GBP 1.1bn, LTV ~30%, net debt/EBITDA ~8x.
Technology and customer metrics supporting resilience
Proprietary Connect platform digitized the customer journey; use of AI (e.g., 85% accuracy predicting retention). Customer base: ~61% annual renewals, 85% over‑25s, average customer income ~GBP 39k. Energy efficiency: 99.9% EPC A–C (85% A/B).

Grainger (GB:GRI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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GB:GRI Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
Nov 19, 2026
2026 (Q4)
- / -
0.198―――
May 14, 2026
2026 (Q2)
- / 0.04
0.051-17.65% (>-0.01)――
Nov 20, 2025
2025 (Q4)
- / 0.20
0.072175.00% (+0.13)――
May 15, 2025
2025 (Q2)
- / 0.05
0.04513.33% (<+0.01)――
Nov 21, 2024
2024 (Q4)
- / 0.07
0.05433.33% (+0.02)――
May 16, 2024
2024 (Q2)
- / 0.04
0.049-8.16% (>-0.01)――
Nov 22, 2023
2023 (Q4)
- / 0.05
0.208-74.04% (-0.15)――
May 11, 2023
2023 (Q2)
0.05 / 0.05
0.05-2.00% (>-0.01)――
Nov 17, 2022
2022 (Q4)
0.10 / 0.21
0.102103.92% (+0.11)――
May 12, 2022
2022 (Q2)
0.03 / 0.05
0.04511.11% (<+0.01)――
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

GB:GRI Earnings-Related Price Changes

Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
May 14, 2026
152.28 p153.75 p+0.97%
Nov 20, 2025
179.81 p171.99 p-4.35%
May 15, 2025
200.95 p206.60 p+2.81%
Nov 21, 2024
204.23 p213.89 p+4.73%
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 Grainger PLC (GB:GRI) report earnings?
Grainger PLC (GB:GRI) is schdueled to report earning on Nov 19, 2026, TBA (Confirmed).
    What is Grainger PLC (GB:GRI) earnings time?
    Grainger PLC (GB:GRI) earnings time is at Nov 19, 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 the P/E ratio of Grainger PLC stock?
          The P/E ratio of Grainger is N/A.
            What is GB:GRI EPS forecast?
            Currently, no data Available