The earnings call reflects a positive overall sentiment, with strong operational performance and strategic investments driving growth. However, there are challenges related to rising debt levels, finance lease expiries, and interest costs that need to be addressed.

Company Guidance -

Q2 2026

During the call, Landsec outlined several metrics pointing to a positive outlook for the company. They reported a 5% overall like-for-like income growth, with London and retail contributing significantly, covering 83% of the business. Occupancy rose by 100 basis points to 97.2%, and the portfolio value increased by 1.1%, driven by a 4.2% growth in estimated rental value (ERV). Despite facing a 10% EPS headwind from rising interest costs, the company expects a 20% EPS growth over the next five years. Current EPS grew by 0.4%, exceeding initial guidance, and dividends increased by 2%. Landsec aims for a net debt to EBITDA of less than 8 times and maintains a loan-to-value ratio of around the mid-30s, with the current LTV at just over 38%. The strategic focus includes a capital rotation into high-yielding retail and residential sectors, targeting a 30% EPS growth by 2030. Operational efficiencies are projected to reduce overheads by 23% over four years, contributing further to EPS growth.

Strong Operational Performance

Landsec reported high like-for-like income growth across both London and retail sectors, which constitute 83% of the business. Like-for-like income growth was up 5%, with uplifts on relettings and renewals in retail and London rising to 8%.

Positive EPS Growth Outlook

The outlook for EPS growth in the near term is positive, with an expected 20% growth in EPS over the next five years. This is despite a projected 10% EPS headwind from rising interest costs and a finance lease expiry.

Record Occupancy Levels

Occupancy increased by 100 basis points to 97.2%, reflecting strong demand for high-quality spaces in both London and major retail portfolios.

Strategic Investments in Retail

Invested over GBP600 million into top retail destinations Liverpool ONE and Bluewater, while selling around GBP655 million of assets, mostly in subscale sectors.

Dividend Increase

Dividend increased by 2%, in line with guidance, and NTA per share increased by 1.7%, resulting in a 6.4% return on equity.

Land Securities Group plc REIT (GB:LAND) 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

Daily Earnings Calendar >

GB:LAND Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 18, 2025	2026 (Q2)	0.26 / -	0.249	―	―	―
May 16, 2025	2025 (Q4)	0.25 / 0.25	0.232	9.05% (+0.02)	―	―
Nov 15, 2024	2025 (Q2)	0.25 / 0.25	0.267	-6.74% (-0.02)	―	―
May 17, 2024	2024 (Q4)	0.23 / 0.23	0.263	-11.79% (-0.03)	―	―
Nov 14, 2023	2024 (Q2)	0.26 / 0.27	0.266	0.38% (<+0.01)	―	―
May 16, 2023	2023 (Q4)	0.23 / 0.26	0.229	14.85% (+0.03)	―	―
Nov 15, 2022	2023 (Q2)	0.25 / 0.27	0.243	9.47% (+0.02)	―	―
May 17, 2022	2022 (Q4)	0.21 / 0.23	0.184	24.46% (+0.05)	―	―
Nov 16, 2021	2022 (Q2)	0.21 / 0.24	0.155	56.77% (+0.09)	―	―
May 18, 2021	2021 (Q4)	- / 0.18	0.257	-28.40% (-0.07)	―	―

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:LAND Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 16, 2025	591.74p	591.24p	-0.08%
Nov 15, 2024	550.96p	574.70p	+4.31%
May 17, 2024	633.79p	617.25p	-2.61%
Nov 14, 2023	539.90p	575.06p	+6.51%

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 Land Securities Group plc REIT (GB:LAND) report earnings?

Land Securities Group plc REIT (GB:LAND) is schdueled to report earning on Nov 18, 2025, TBA (Confirmed).

What is Land Securities Group plc REIT (GB:LAND) earnings time?

Land Securities Group plc REIT (GB:LAND) earnings time is at Nov 18, 2025, 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 the P/E ratio of Land Securities Group plc REIT stock?

The P/E ratio of Land Securities Group plc REIT is N/A.

What is GB:LAND EPS forecast?

GB:LAND EPS forecast for the fiscal quarter 2026 (Q2) is 0.26.

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