The earnings call highlighted strong financial and leasing performance, particularly in FFO growth and international leasing activity. However, challenges such as occupancy declines in key regions and uncertainty due to tariff discussions present notable risks. The overall sentiment is cautiously optimistic but tempered by external uncertainties.

Company Guidance -

Q1 2025

During the Dream Industrial REIT first quarter 2025 conference call, management reported a 5.8% year-over-year growth in funds from operations (FFO) per unit, driven by a 3.1% increase in net operating income (NOI) from comparable properties. The company signed 1.5 million square feet of leases with rental spreads of 57% and 51% in Ontario and Quebec, respectively, and a 9% spread in Western Canada. In Europe, 700,000 square feet of leases were signed with a 16% spread, boosting occupancy to 96.9%. The portfolio ended the quarter with a 95.4% in-place and committed occupancy. Management highlighted a proactive approach to tenant outreach regarding tariff exposure and noted limited direct impact. They also discussed progress in solar projects with an expected yield on cost of 8% to 10%, and plans to expand power capacity for data centers. Despite economic uncertainties, Dream Industrial REIT remains optimistic about its growth trajectory, albeit at the lower end of its 2025 guidance range for NOI and FFO growth.

Strong FFO Growth

The company delivered a 5.8% year-over-year growth in FFO per unit, driven by comparable properties NOI growth of 3.1%.

High Leasing Activity

1.5 million square feet of leases signed in 2025 with healthy rental spreads of 57% in Ontario and 51% in Quebec.

Robust Balance Sheet

The company maintains a robust balance sheet with ample liquidity of over $750 million and a leverage ratio in the mid-30% range.

Solar Program Expansion

Substantial progress on the solar program with 80 projects in the pipeline, representing over $100 million in investments.

Positive Leasing Momentum in Europe

Europe maintained strong leasing momentum with 700,000 square feet of leases signed at a 16% average spread.

Data Center Power Capacity Expansion

Favorable feedback on power capacity expansion for data centers, positioning sites to attract a wide range of users.

Dream Industrl REIT (TSE:DIR.UN) 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 >

TSE:DIR.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 05, 2025	2025 (Q2)	- / -	0.214	―	―	―
May 06, 2025	2025 (Q1)	- / 0.16	0.26	-37.31% (-0.10)	―	―
Feb 18, 2025	2024 (Q4)	- / 0.38	-0.031	1316.13% (+0.41)	―	―
Nov 05, 2024	2024 (Q3)	- / 0.05	0.179	-73.18% (-0.13)	―	―
Aug 06, 2024	2024 (Q2)	- / 0.21	0.291	-26.46% (-0.08)	―	―
May 07, 2024	2024 (Q1)	- / 0.26	-0.064	506.25% (+0.32)	―	―
Feb 13, 2024	2023 (Q4)	- / -0.03	-0.124	75.00% (+0.09)	―	―
Nov 07, 2023	2023 (Q3)	- / 0.18	0.459	-61.00% (-0.28)	―	―
Aug 01, 2023	2023 (Q2)	- / 0.29	0.628	-53.66% (-0.34)	―	―
May 02, 2023	2023 (Q1)	- / -0.06	1.711	-103.74% (-1.78)	―	―

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

TSE:DIR.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 06, 2025	C$10.42	C$10.17	-2.40%
Feb 18, 2025	C$11.50	C$11.55	+0.43%
Nov 05, 2024	C$12.90	C$12.51	-3.02%
Aug 06, 2024	C$12.61	C$12.32	-2.30%

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 Dream Industrl REIT (TSE:DIR.UN) report earnings?

Dream Industrl REIT (TSE:DIR.UN) is schdueled to report earning on Aug 05, 2025, TBA (Confirmed).

What is Dream Industrl REIT (TSE:DIR.UN) earnings time?

Dream Industrl REIT (TSE:DIR.UN) earnings time is at Aug 05, 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?

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What is TSE:DIR.UN EPS forecast?

Currently, no data Available

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