10-K · March 5, 2026
Orion Properties Inc. continues to navigate a challenging real estate landscape, reporting a decline in rental revenues to $146.8 million for 2025 from $164.1 million in 2024. The company is shifting its focus from…
Earnings analysis · 10-Q
ONL earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Orion Properties Inc. reported total revenue of $36.3 million for Q1 2026, considerably below the expected $34.51 million. The company experienced a wider EPS loss of $(0.24), missing the forecast of $(0.12) and showing…
Read full summary
Orion Properties Inc. reported total revenue of $36.3 million for Q1 2026, considerably below the expected $34.51 million. The company experienced a wider EPS loss of $(0.24), missing the forecast of $(0.12) and showing a decrease in gross margin to 55.9%. Despite these setbacks, Core FFO improved year-over-year to $11.7 million, indicating operational resilience.
Gross and operating margin
How much of each revenue dollar the business keeps.
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.
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
- $-0.24
- Gross margin
- 55.9%
What stood out
-
Revenue Misses Estimates
Total revenue for Q1 2026 was reported at $36.3 million, lower than the consensus estimate of $34.5 million.
-
Wider EPS Loss
The company reported a diluted EPS loss of $(0.24), which is worse than the estimated loss of $(0.12).
-
Core FFO Improves YOY
Core FFO for Q1 increased to $11.7 million, or $0.21 per share, up from $10.7 million, or $0.19 per share year-over-year.
-
Gross Margin Decline
Gross margin decreased to 55.9% from 56.7% in the previous quarter.
-
Operational Resilience
Despite the revenue shortfall, operational metrics like Core FFO suggest a focus on cost management.
-
Liquidity Outlook Maintained
Management reaffirmed guidance for Core FFO per share ranging from $0.69 to $0.76.
What to watch
-
Increased Net Loss
The company faces a net loss of $(x) million in Q1 2026, raising concerns about profitability.
-
Impairment Charges
Potential impairment charges may negatively impact future earnings given current asset valuations.
-
Pending Property Sales Risks
The company is exposed to risks from pending property sales, which may affect cash flows.
Management's outlook
Management reaffirmed guidance for Core FFO per share for the fiscal year 2026.
Earlier filings 4
10-Q · November 6, 2025
Orion Properties Inc. reported significant operational challenges in Q3 2025 with a revenue of $36.9 million, slightly surpassing estimates of $36.4 million, indicating a 3.1% decrease from the previous quarter and a…
10-Q · August 6, 2025
Orion Properties Inc. reported a revenue of $37 million for Q2 2025, a decrease compared to $38 million in Q1 2025 and $40 million in Q2 2024. The company posted an EPS of $0.20, a significant improvement from a loss of…
10-Q · May 7, 2025
Orion Properties Inc. reported a solid quarterly performance with revenue of $38 million for Q1 2025, exceeding consensus estimates of $37.4 million. Despite a slight decline in revenue year-over-year, the company…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.