ONL earnings analysis
What we found in ONL'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
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.24
- Gross margin
- 55.9%
What they said about what is next.
Management reaffirmed guidance for Core FFO per share for the fiscal year 2026.
The filing reads worse than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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