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Supermarket Income REIT Plc (GB:SUPR)
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SUPR
Supermarket Income REIT Plc
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Supermarket Income REIT Plc (SUPR) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
Sep 23, 2026
TBA (Confirmed)
Period Ending
2026 (Q4)
Consensus EPS Forecast
0.03
Last Year’s EPS
0.03
Same Quarter Last Year
Analyst Consensus
Moderate Buy
Based on 3 Analysts Ratings

Earnings Call Summary

Q2 2026
Earnings Call Date:Mar 11, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call highlights substantial strategic progress: rapid scaling of a sector-focused joint venture, meaningful portfolio growth to GBP 2bn, material cost reductions (EPRA cost ratio improved to 9.2% and overheads down 32%), accretive acquisitions deployed at attractive yields, and upgraded dividend guidance to a minimum 2% uplift from FY27. Operational performance remained robust with 100% occupancy, strong rent collection, and rent review uplifts. Short-term challenges include a 2% decline in net rental income, EPRA EPS decline to 2.7p, higher leverage (43%) and pro forma net debt-to-EBITDA of 8.2x, acquisition-related costs and some transitional costs from internalization, and conservative valuations limiting immediate NTA upside. On balance, the positives—particularly disciplined capital deployment, cost efficiency gains, JV monetization and clear pipeline—outweigh the manageable near-term headwinds.
Company Guidance
The key guidance was an upgraded minimum dividend uplift of 2% per annum from FY‑27, supported by targets to drive the EPRA cost ratio below 9% next year (current 9.2%, a 440bp improvement) and longer‑term operational leverage toward c.8%; management expects pro‑forma net debt/EBITDA to move from c.8.2x to the lower end of a 7x–8x range within 12 months while maintaining LTV around current 43% and strong covenant headroom. Balance sheet and funding guidance included a weighted average cost of debt of 4.8%, 92% of drawn debt fixed or hedged (moving toward 100%), one drawn facility maturing in 12 months that will be refinanced, and diversified longer‑dated funding (debut bonds and U.S. private placement with a blended tenor just over six years at ~5%). Portfolio and pipeline guidance comprised ambitions to double the portfolio (current value GBP 2.0bn, up 20% since June ’25) with a near‑term pipeline >GBP 500m, having deployed GBP 398m at a 6.5% net initial yield, scaled the JV to GBP 845m (23 stores at c.6.5% NIY) and completed accretive sale‑and‑leasebacks (e.g. 10 stores at 7.4% NIY, Carrefour tranche EUR 123m at 6.6% NIY). Operationally they reiterated targets of high occupancy and rent collection (100%), a gross‑to‑net rent ratio of 99.5%, rental momentum from 19 rent reviews averaging a 3.8% uplift, around 90% grocery income, c.80% inflation‑linked rents (with c.76% of income investment‑grade), and financial metrics of EPRA earnings per share 2.7p, EPRA NTA 87.5p, dividends paid 3.1p, and a H1 total accounting return of 4%.
Dividend Guidance Upgraded
Minimum dividend uplift increased to 2% per annum from FY27 onwards, reflecting confidence in cash generation and capital deployment.
Portfolio Growth and Scale
Portfolio value increased to GBP 2.0 billion (including post-period activity), up 20% since June 2025, supported by a near-term pipeline of over GBP 500 million.
Joint Venture Progress and Capital Recycling
Joint venture scaled to GBP 845 million (23 stores) at a 6.5% net initial yield; JV generated GBP 2 million p.a. of management fee income and enabled redeployment of proceeds into GBP 398 million of acquisitions.
Cost Efficiency and Overhead Reductions
EPRA cost ratio improved to 9.2%, a reduction of 440 basis points; delivered over GBP 2 million of cost savings in H1 and reported a 32% reduction in overheads for the first half. Management target to reduce cost ratio below 9% for FY27.
Strong Operational Metrics
100% occupancy and rent collection; gross-to-net rent ratio of 99.5%; completed 19 rent reviews with an average uplift of 3.8% (transferred into JV); high-quality income base with c.70-76% investment-grade occupiers and c.90% grocery income.
Accretive Acquisitions and Attractive Yields
Deployed GBP 398 million of capital at a 6.5% net initial yield; executed a EUR 123 million tranche of Carrefour sale-and-leaseback at a 6.6% net initial yield; example store sale-and-leasebacks at accretive yields such as 7.4%.
Portfolio Revaluation and Outperformance
Like-for-like revaluation uplift of GBP 7 million (1.3%), outperforming the MSCI All Property Capital Growth Index by 90 basis points.
Debt Management and Diversification
Issued debut bonds and U.S. private placement with blended tenor ~6 years at a fixed ~5%; weighted average cost of debt at 4.8%; 92% of drawn debt fixed or hedged; Fitch reaffirmed BBB+ credit rating.
EPRA NTA and Total Accounting Return
EPRA NTA per share increased modestly to 87.5p (from 87.1p); delivered a 4% total accounting return for H1, with income representing ~88% of that return.

Supermarket Income REIT Plc (GB:SUPR) 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:SUPR Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
Sep 23, 2026
2026 (Q4)
0.03 / -
0.03―――
Mar 11, 2026
2026 (Q2)
0.03 / 0.03
0.03-10.00% (>-0.01)――
Sep 17, 2025
2025 (Q4)
0.03 / 0.03
0.031-3.23% (>-0.01)――
Mar 11, 2025
2025 (Q2)
0.03 / 0.03
0.0293.45% (<+0.01)――
Sep 18, 2024
2024 (Q4)
0.03 / 0.03
0.033.33% (<+0.01)――
Mar 13, 2024
2024 (Q2)
0.03 / 0.03
0.0290.00% (0.00)――
Sep 20, 2023
2023 (Q4)
0.03 / 0.03
0.0287.14% (<+0.01)――
Mar 30, 2023
2023 (Q2)
0.03 / 0.03
0.031-6.45% (>-0.01)――
Sep 21, 2022
2022 (Q4)
0.03 / 0.03
0.029-3.45% (>-0.01)――
Mar 02, 2022
2022 (Q2)
0.02 / 0.03
0.02714.81% (<+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:SUPR Earnings-Related Price Changes

Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Mar 11, 2026
82.17 p81.09 p-1.31%
Sep 17, 2025
74.35 p73.59 p-1.02%
Mar 11, 2025
66.47 p66.92 p+0.68%
Sep 18, 2024
66.84 p65.28 p-2.34%
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 Supermarket Income REIT Plc (GB:SUPR) report earnings?
Supermarket Income REIT Plc (GB:SUPR) is schdueled to report earning on Sep 23, 2026, TBA (Confirmed).
    What is Supermarket Income REIT Plc (GB:SUPR) earnings time?
    Supermarket Income REIT Plc (GB:SUPR) earnings time is at Sep 23, 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 the P/E ratio of Supermarket Income REIT Plc stock?
          The P/E ratio of Supermarket Income REIT Plc is N/A.
            What is GB:SUPR EPS forecast?
            GB:SUPR EPS forecast for the fiscal quarter 2026 (Q4) is 0.03.