HR earnings analysis
What we found in HR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.41
What they said about what is next.
Outlook emphasizes improved market conditions with raised FFO guidance.
The filing reads better than the one before it.
What came before.
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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