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Earnings analysis · 10-Q

O earnings analysis

Filed May 6, 2026 · Our reading of the company's report

The latest report

Realty Income Corporation reported Q1 2026 earnings with total revenue of $1.55 billion, up 12.2% year-over-year, and EPS of $1.13, exceeding estimates of $1.10. The company also announced a dividend increase and…

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Realty Income Corporation reported Q1 2026 earnings with total revenue of $1.55 billion, up 12.2% year-over-year, and EPS of $1.13, exceeding estimates of $1.10. The company also announced a dividend increase and continued commitment to its growth strategy through acquisitions and partnerships. Management remains optimistic about future cash flows and portfolio performance amidst ongoing macroeconomic challenges.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $7 Operating expenses $56 Left as operating profit $37

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$1.13

What stood out

  • Strong Q1 Revenue Growth

    Q1 2026 revenue of $1.55 billion increased by 12.2% from $1.38 billion in Q1 2025.

  • EPS Beat Estimates

    Reported EPS of $1.13 exceeded estimates of $1.10 and improved from $0.28 in Q1 2025.

  • Increased Dividends

    Declared a dividend of $0.2705 per share, an increase from $0.2680 in March 2025.

  • Successful Property Sales

    Sold 97 properties for net proceeds of $188 million, realizing a gain of $35.6 million.

  • Higher Interest Income

    Interest and dividend income increased notably by $35.4 million to $70.1 million.

  • Strong Investment Growth

    Invested $2.8 billion in Q1 2026, achieving a 7.1% cash yield.

What to watch

  • Increased Debt Levels

    Total liabilities increased to $33.32 billion from $32.67 billion, raising debt-related risks.

  • Currency Fluctuation Risks

    Reported a foreign currency and derivative loss of $17 million, highlighting exposure.

  • Market Volatility Impact

    Fluctuating interest rates could affect future financing costs, with a potential impact of $23 million from a 1% interest rate change.

Management's outlook

Outlook deferred to earnings press release / call.

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