Simon Property (SPG)
NYSE:SPG
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Earnings Data
Report Date
Aug 03, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.57Last Year’s EPS
1.7Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple clear operational and financial positives: strong leasing, accelerating retailer sales (comps +6.5% in Q1), NOI and FFO growth (+7.5% FFO YoY), an accretive development pipeline (9% blended yield), robust liquidity (~$8.7B) and continued capital returns (dividend +7.1%). Offsetting these strengths are measurable interest-rate driven headwinds to interest expense and refinancing costs, softness in food & beverage and some tourist-driven markets, and remaining exchangeable bond exposure. Overall, the positive operational momentum, disciplined capital allocation, and strengthened guidance materially outweigh the financing/sector headwinds described.Company Guidance
Real Estate FFO Growth
Real estate FFO of $1.2 billion, or $3.17 per share, vs $1.1 billion / $2.95 prior year, a 7.5% increase year-over-year.
Raised Full-Year FFO Guidance
Increased 2026 full-year real estate FFO guidance to $13.10–$13.25 per share vs $12.73 last year, representing a ~5% increase at the midpoint.
Strong Retailer Sales and Acceleration
Malls and Premium Outlets sales of $819 per square foot, up 11.8% in the quarter; total sales volume +5.6% over trailing 12 months, +8.8% in the quarter, and comparable sales +6.5% in Q1.
Robust Leasing Activity and Pipeline
Signed >1,100 leases totaling >4.7 million sq ft in Q1, with ~25% of leasing volume from new deals; completed >75% of 2026 expirations and report a larger, more productive pipeline vs a year ago.
Occupancy and Rent Improvement
Malls & Premium Outlets occupancy at 96% (up 10 bps YoY); The Mills occupancy 99.2% (up 80 bps YoY); average base minimum rent up 5.2% YoY for malls & outlets and up 9.1% for The Mills.
NOI Expansion
Domestic property NOI grew 6.7% year-over-year for the quarter; portfolio NOI (including international at constant currency) also grew 6.7% (approximately 120 bps of domestic growth attributable to acquisition of remaining TRG interests).
Attractive Development Pipeline
Projects under construction at 29 centers with Simon's share net cost of $1.06 billion at a blended yield of 9%; ~50% of net cost allocated to mixed-use (≈1,200 multifamily units and >400 hotel keys); additional $1 billion of projects ready to start and ~ $3 billion in pipeline.
Strong Liquidity and Active Capital Markets Execution
Ended Q1 with ≈$8.7 billion liquidity; completed 10 secured loan transactions totaling ≈$2.3 billion at a weighted average rate of 5.25%; issued $800 million senior notes to repay maturing debt; amended $5 billion revolver with 15 bps lower pricing.
Shareholder Returns
Declared Q2 dividend of $2.25 per share, up $0.15 or 7.1% YoY; repurchased ~965,000 shares for ~$175 million at an average price of $181.59 in Q1.
Strategic Asset & Platform Progress
Completed corporate integration of Taubman; announced >$250 million of reinvestment projects (e.g., Green Hills, International Plaza, Cherry Creek); Klépierre exchange actions produced a noncash non-FFO gain of $64 million and ownership of ~59 million Klépierre shares (~20.7%).
SPG 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
SPG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $201.00 | $205.66 | +2.32% |
Feb 02, 2026 | $189.04 | $187.26 | -0.94% |
Nov 03, 2025 | $172.53 | $178.31 | +3.35% |
Aug 04, 2025 | $158.21 | $163.40 | +3.28% |
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 Simon Property (SPG) report earnings?
Simon Property (SPG) is schdueled to report earning on Aug 03, 2026, Before Open (Confirmed).
What is Simon Property (SPG) earnings time?
Simon Property (SPG) earnings time is at Aug 03, 2026, Before Open (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 SPG EPS forecast?
SPG EPS forecast for the fiscal quarter 2026 (Q2) is 1.57.