The call highlighted strong operational and financial performance, with record occupancy and significant lease renewals. However, some concerns were noted regarding reliance on nonrecurring income and the impact of dispositions on NOI. Overall, the positive highlights significantly outweigh the lowlights.

Company Guidance -

Q3 2025

During the Q2 2025 conference call, the company reported strong financial and operational results, highlighted by a 6.2% increase in same-property cash NOI, driven by increased occupancy and higher rents. The company's occupancy rate reached a new high of 97.2%, while the average in-place net rental rate set a record at $24.44 per square foot. Lease renewal rates showed a significant year 1 increase of 16.2%, with 80% of renewed leases including rent escalations, resulting in a 21% lift compared to expiring terms. The company also completed 105,000 square feet of new leasing at an average rent of over $30 per square foot. Operating FFO grew by 6%, and the company is on track to meet its strategic plan targets, including a 3% average annual growth in operating FFO per unit and a net debt to adjusted EBITDA ratio in the low 8x range by the end of 2026. The company also maintained a strong financial position with over $900 million in liquidity.

Record Occupancy Levels

FCR achieved a new occupancy record at 97.2%, surpassing the previous high of 96.9%.

Strong Same-Property NOI Growth

In Q2 2025, same-property cash NOI grew by 6.2%, driven by increased occupancy and higher rents.

Significant Lease Renewals

FCR renewed over 625,000 square feet in Q2, with a renewal rate increase of 16.2% and a 21% lift in net rents.

Operating FFO Growth

Operating FFO increased by 6% year-over-year to $73 million, with per unit FFO increasing from $0.319 to $0.33.

Efficient Capital Management

FCR repaid $140 million of debt and issued $300 million in debentures at a tight spread, maintaining a strong financial position.

Positive Development Progress

Key developments, such as Yonge & Roselawn and 1071 King, are on schedule and on budget, with significant interest from retailers.

First Capital Realty (TSE:FCR.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:FCR.UN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	- / -	0.38	―	―	―
Jul 29, 2025	2025 (Q2)	- / 0.30	0.08	275.00% (+0.22)	―	―
May 06, 2025	2025 (Q1)	- / 0.39	0.35	11.43% (+0.04)	―	―
Feb 11, 2025	2024 (Q4)	- / 0.15	0.81	-81.48% (-0.66)	―	―
Oct 29, 2024	2024 (Q3)	- / 0.38	-1.53	124.84% (+1.91)	―	―
Jul 30, 2024	2024 (Q2)	- / 0.08	-0.14	157.14% (+0.22)	―	―
Apr 30, 2024	2024 (Q1)	- / 0.35	0.23	52.17% (+0.12)	―	―
Feb 06, 2024	2023 (Q4)	- / 0.81	0.2	305.00% (+0.61)	―	―
Oct 31, 2023	2023 (Q3)	- / -1.53	-0.95	-61.05% (-0.58)	―	―
Aug 01, 2023	2023 (Q2)	- / -0.14	-0.19	26.32% (+0.05)	―	―

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:FCR.UN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	C$18.48	C$18.80	+1.73%
May 06, 2025	C$16.95	C$17.18	+1.36%
Feb 11, 2025	C$16.34	C$16.23	-0.67%
Oct 29, 2024	C$17.37	C$17.18	-1.09%

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 First Capital Realty (TSE:FCR.UN) report earnings?

First Capital Realty (TSE:FCR.UN) is schdueled to report earning on Nov 04, 2025, After Close (Confirmed).

What is First Capital Realty (TSE:FCR.UN) earnings time?

First Capital Realty (TSE:FCR.UN) earnings time is at Nov 04, 2025, After Close (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 TSE:FCR.UN EPS forecast?

Currently, no data Available

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