DREAM Un Cl A (DRM) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 19, 2026

TBA (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.16

Last Year’s EPS

-0.35

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 2 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 24, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed strong operational momentum across asset management, development and income properties: meaningful growth in asset management revenue (including a large incentive fee), large new venture commitments ($5B announced) and a growing multifamily pipeline that should drive NOI in 2026–2028. Management also strengthened shareholder returns (dividend increase, buybacks) and maintained healthy liquidity. Key near-term negatives were a sizable quarter‑over‑quarter drop in reported net earnings driven by a prior-year one-time gain, a loss in the Other Investments segment, servicing-related timing delays in Western Canada pushing recognition into 2026, and rental-rate pressure in Ontario from condo rental supply. Overall, the positive operational progress, deal activity and pipeline growth outweigh the timing and one-off headwinds, supporting a constructive outlook for 2026–2028.

Company Guidance

Management said momentum from a very strong Q4 and 2025 should make 2026 even stronger, and backed that up with many metrics: Q4 stand‑alone net earnings of $56.2M (vs $135.7M LY that included a $157M A‑Basin gain); Asset Management Q4 revenue/net margin $61.5M/$52.9M (including a $44.8M DIR incentive fee, 75% paid in cash); Western Canada development Q4 revenue/net margin $113.5M/$42.5M with 438 lot sales, 204 acre sales and 38 housing occupancies (including a 201‑raw‑acre sale generating $19.7M revenue/$15.8M net margin); Income Properties Q4 revenue/NOI $16.7M/$8.4M (vs $15.6M/$7.1M) with ~1,100 multifamily units stabilized/in lease‑up and ~950 under construction to complete over 24 months; Other Investments revenue $11.1M with a negative net margin of $5.3M; balance sheet and near‑term items of $324M liquidity and $215M of 2026 maturities (including ~$60M auto‑renewed); nearly $150M of lot/acre presale commitments secured as of Feb 20 for recognition in 2026–27 (up $28M QoQ); $8.9M of share repurchases in 2025 (~2% of float) with at least twice that planned in 2026; $27M paid to shareholders in 2025 and an increased annual dividend to $0.70 from $0.65 per share; and strategic growth initiatives including $2B of apartment and $3B of industrial ventures (~$5B new ventures, ~$1.1B invested to date, Summit added ~$0.5B), with Income Properties expected to grow from just under $1B to about $1.4B (~40%) and contribute >800 units plus ~46,000 sq ft of retail in 2027.

Strong Asset Management Revenue and Incentive Fee

Asset Management Q4 revenue of $61.5M and net margin of $52.9M, driven in part by a $44.8M incentive fee from DIR (CPP joint venture). Asset management revenue expanded from $38M in 2022 to $100M in 2025 (≈163% increase over three years). 75% of the incentive fee was paid in cash with the remainder taken in REIT units.

Major New Ventures and AUM Deployment

Announced $2B apartment venture and $3B industrial venture with CPP (total $5B new ventures); ~ $1.1B has been invested on behalf of clients to date. Summit Venture added roughly $0.5B in 2025, indicating strong capital-raising and deployment momentum.

Western Canada Development Revenue and Land Sales

Western Canada development Q4 revenue of $113.5M and net margin of $42.5M. Achieved 438 lot sales, 204 acre sales and 38 housing occupancies in the quarter. Notable 201 raw acre sale in Edmonton to a JV generated $19.7M revenue and $15.8M net margin. Lot/acre sales were up roughly 10% year-over-year.

Growing Land Presales Commitments

As of Feb 20, secured nearly $150M in lot/acre sales commitments expected to be recognized 2026–2027, up $28M from the prior quarter (≈23% quarter-over-quarter increase in commitments).

Income Properties NOI Growth and Pipeline

Income properties Q4 revenue $16.7M and NOI $8.4M versus $15.6M and $7.1M prior year. Nearly 1,100 multifamily units stabilized or in lease-up and a further ~950 units under construction to complete over the next 24 months. Company expects assets under management in income properties to grow from just under $1B to ~$1.4B (≈40% increase) in the next couple years.

Dividend Increase and Share Buybacks

Board increased annual dividend from $0.65 to $0.70 per share (≈7.7% increase). Spent ~$8.9M on share repurchases in 2025 (~2% of the float) and plan to buy back at least twice as much in 2026.

Strong Liquidity Position

Ended quarter with $324M of liquidity and manageable near-term debt profile; reported $215M of 2026 maturities but noted ~$60M auto-renews annually, reducing true near-term funding pressure. Management in advanced discussions with lenders on Q1/Q2 maturities.

Progress on Major Developments (49 Ontario and Quayside)

First draw on $600M loan for 49 Ontario; project under construction with a 10% partner. Completed Quayside restructuring splitting condo and apartment lands; Dream now owns 100% of apartments which enables CMHC funding commitment and positions project to start prior to year-end.

Operational Leasing Execution

High leasing performance: ~95% occupancy in Toronto buildings for the year and positive leasing momentum in recently completed blocks; retail center in Alpine Park well leased and coming online.

DREAM Un Cl A (TSE:DRM) 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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TSE:DRM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 19, 2026	2026 (Q1)	0.16 / -	-0.35	―	―	―
Feb 24, 2026	2025 (Q4)	0.25 / 1.34	2.94	-54.42% (-1.60)		―
Nov 12, 2025	2025 (Q3)	0.14 / 0.65	-0.36	280.56% (+1.01)	―	―
Aug 12, 2025	2025 (Q2)	0.21 / -0.25	1.32	-118.94% (-1.57)	―	―
May 12, 2025	2025 (Q1)	-0.02 / -0.35	0.01	-3600.00% (-0.36)	―	―
Feb 26, 2025	2024 (Q4)	3.13 / 2.94	-1.66	277.11% (+4.60)	―	―
Nov 12, 2024	2024 (Q3)	0.26 / -0.36	0.09	-500.00% (-0.45)	―	―
Aug 13, 2024	2024 (Q2)	0.41 / 1.32	-1.73	176.30% (+3.05)	―	―
May 14, 2024	2024 (Q1)	0.40 / 0.01	0.78	-98.72% (-0.77)	―	―
Feb 21, 2024	2023 (Q4)	0.21 / -1.66	-1.2	-38.33% (-0.46)	―	―

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:DRM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 24, 2026	C$21.42	C$22.13	+3.31%
Nov 12, 2025	C$18.13	C$18.28	+0.82%
Aug 12, 2025	C$20.99	C$20.61	-1.82%
May 12, 2025	C$17.89	C$17.85	-0.22%

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 Unlimited Cl A (TSE:DRM) report earnings?

DREAM Unlimited Cl A (TSE:DRM) is schdueled to report earning on May 19, 2026, TBA (Confirmed).

What is DREAM Unlimited Cl A (TSE:DRM) earnings time?

DREAM Unlimited Cl A (TSE:DRM) earnings time is at May 19, 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?

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What is TSE:DRM EPS forecast?

TSE:DRM EPS forecast for the fiscal quarter 2026 (Q1) is 0.16.