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Earnings analysis · 10-Q

HR earnings analysis

Filed May 1, 2026 · Our reading of the company's report

The latest report

Healthcare Realty Trust (HR) reported Q1 2026 results with revenue of $278.99 million, slightly missing estimates of $281.6 million, but significantly exceeding EPS expectations at $0.41, beating the estimated $0.05.…

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Healthcare Realty Trust (HR) reported Q1 2026 results with revenue of $278.99 million, slightly missing estimates of $281.6 million, but significantly exceeding EPS expectations at $0.41, beating the estimated $0.05. The company demonstrated operational resilience by increasing its Normalized FFO guidance for the year to a range of $1.59 to $1.65 per share, indicating a positive outlook despite challenges in the rental income sector.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

63% Gross margin Operating margin Nov 2022 Feb 2026

One point per quarterly or annual filing. Both margins are shares of that report's revenue.

How we read each report

Our analysis across the last few reports.

Read as bullish Read as bearish Nov 2022 May 2026

Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.

Reported figures

Earnings per share
$0.41

What stood out

  • Robust EPS Performance

    Actual diluted EPS was $0.41 compared to the estimated $0.05, a 720% surprise.

  • Slight Revenue Miss

    Revenue for the quarter was $278.99 million, slightly below the anticipated $281.6 million.

  • Increased FFO Guidance

    The company raised its Normalized FFO guidance for 2026 to a range of $1.59 to $1.65 per share.

  • Strong Operating Cash Flow

    Q1 2026 operating cash flow increased to $52.9 million, up from $47.8 million in Q1 2025.

  • Decrease in Interest Expense

    Interest expense decreased by $10.9 million, or 19.9%, for the quarter.

  • Improved Net Income

    Net loss attributable to common stockholders narrowed to $(56) compared to $(44,873) in Q1 2025.

What to watch

  • High Tenant Dependency

    The company's revenues heavily depend on tenant operations, exposing them to potential defaults.

  • Impairment and Real Estate Risks

    Recognized impairments totaled $5.4 million in Q1 2025, highlighting risks in real estate valuation.

  • Increased Operational Expenses

    General and administrative expenses rose by approximately $3.8 million, or 28.2%, impacting net income.

Management's outlook

Outlook emphasizes improved market conditions with raised FFO guidance.

Earlier filings 4

10-K · February 13, 2026

Healthcare Realty (HR) continues to execute a concentrated outpatient healthcare real estate strategy focused on properties on or near acute care hospital campuses. In 2025 the company generated $1,180,546,000 of…

10-Q · May 1, 2025

Healthcare Realty reported Q1 2025 revenue of $298,977,000 (down from $326,805,000 in Q1 2024) and a GAAP diluted loss per share of $(0.13), an improvement from $(0.82) in Q1 2024. Operating margin expanded to 6.19%…

10-Q · October 30, 2024

Healthcare Realty reported third-quarter revenue of $315,423,000 and a net loss attributable to common stockholders of $93,023,000 (diluted EPS $(0.26)). Property-level margins were roughly stable while operating margin…

10-Q · August 8, 2023

Healthcare Realty (HR) reported Q2 revenue of $338.143M (three months ended June 30, 2023), up from $145.327M in Q2 2022 and slightly above Q1 2023 ($332.925M). Operating cash flow strengthened to $254.322M for the six…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.