Corporacion Inmobiliaria Vesta SAB de CV (VESTF)
OTHER OTC:VESTF
Earnings Data
Report Date
Apr 23, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.04Last Year’s EPS
0.01Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive tone: the company reported strong top-line growth, margin expansion, FFO growth, robust leasing momentum (especially in manufacturing), targeted land acquisitions and a clearer development pipeline under Route 2030. Capital structure improvements (elimination of secured debt) and 2026 revenue guidance further support constructive outlook. Notable headwinds include below-peak total occupancy, higher interest expense affecting Q4 FFO excluding tax, and currency-driven tax/operating-cost volatility that could pressure near-term margins. On balance, the highlights and strategic positioning materially outweigh the lowlights.Company Guidance
Revenue and Top-Line Growth
Full-year 2025 rental revenues rose 11.8% year-on-year to $273.6M (total rental income $283.2M). Fourth-quarter total revenues increased 17.2% YoY to $76.4M, driven by new leases and inflation indexing.
Strong Profitability and Margin Expansion
Adjusted full-year NOI margin reached 94.8% and adjusted EBITDA margin reached 84.4%. In Q4, adjusted NOI rose 17.2% to $69.4M with a NOI margin of 94.6% (up 88 bps YoY) and adjusted EBITDA grew 18.2% to $61.1M with margin expansion of 155 bps to 83.3%.
FFO Growth
FFO for 2025 totaled $174.9M, a 9.2% increase vs. $160.1M in 2024, reflecting improved operating performance and higher rental revenues.
Leasing Momentum and Spread Improvement
Full-year leasing activity reached 6.9M sq ft (TTM), including 1.9M sq ft of new leases; trailing 12-month weighted average leasing spread was 10.8%. Leasing accelerated in H2: ~1.4M sq ft new leasing in H2 vs ~0.5M in H1 2025. Q4 leasing totaled 1.9M sq ft (770k new leases, 1.2M renewals).
Structural Demand Shift to Manufacturing and Tech-Related Tenants
Manufacturing returned strongly in 2025: 86% of new leases were manufacturing-related, led by electronics, with notable demand from advanced manufacturing, AI-related peripherals and data-center supply chains (strength particularly in Guadalajara and Monterrey).
Portfolio and Development Positioning (Route 2030)
Invested approximately $330M in projects on a cash flow basis in 2025; 800k sq ft under construction at year-end with ~$60M estimated investment and expected yield on cost of 9.9%. Company is two years into the six-year Route 2030 plan and ahead of schedule on capital deployment.
Strategic Land Acquisitions and Industry Recognition
Acquired 330 acres in the high-demand Apodaca (Monterrey) Airport Highway corridor with seller financing; Vesta Park Apodaca Building 8 won the GRI Global Awards 2025 Industrial & Logistics Project of the Year.
Improved Capital Structure and Liquidity
Ended year with $337M cash and cash equivalents and total debt of $1.28B; net debt/EBITDA 4.4x and LTV 28.1%. Subsequent to quarter-end, prepaid $118M MetLife III facility, leaving no secured debt and completing transition to a fully unsecured capital structure.
2026 Guidance Reflects Continued Growth
Management guided 2026 rental revenue growth of 10–11% YoY, with expected adjusted NOI margin ~93.5% and adjusted EBITDA margin ~83%, indicating confidence in continued revenue momentum.
Shareholder Returns Maintained
Share repurchase program remains active and company paid a Q4 cash dividend of $0.38 per ordinary share (paid Jan 15, 2026), with dividends and asset recycling flagged as ongoing capital-allocation priorities.
Corporacion Inmobiliaria Vesta SAB de CV (VESTF) Earnings, Revenues Date & History
VESTF 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
VESTF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $3.04 | $3.04 | 0.00% |
Oct 23, 2025 | $1.87 | $1.87 | 0.00% |
Jul 24, 2025 | $3.84 | $3.84 | 0.00% |
Apr 23, 2025 | $3.82 | $3.82 | 0.00% |
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 Corporacion Inmobiliaria Vesta SAB de CV (VESTF) report earnings?
Corporacion Inmobiliaria Vesta SAB de CV (VESTF) is schdueled to report earning on Apr 23, 2026, TBA (Confirmed).
What is Corporacion Inmobiliaria Vesta SAB de CV (VESTF) earnings time?
Corporacion Inmobiliaria Vesta SAB de CV (VESTF) earnings time is at Apr 23, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is VESTF EPS forecast?
VESTF EPS forecast for the fiscal quarter 2026 (Q1) is 0.04.