RMR earnings analysis
What we found in RMR'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
RMR Group Inc. reported Q2 2026 results with revenue of $166 million, slightly below estimates of $167.7 million, and earnings per share (EPS) of $0.15, matching expectations. Operating margins declined to 4.2% from 6.1% in the previous quarter, while free cash flow dropped to $12 million compared to $24 million in Q1.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Performance
- Reported revenue was $166 million, slightly missing the $167.7 million estimate.
- EPS Meets Expectations
- EPS for the quarter was reported at $0.15, aligning with estimates.
- Operating Margin Decline
- Operating margin fell to 4.2%, down from 6.1% in the prior quarter.
- Free Cash Flow
- Free cash flow decreased to $12 million, down from $24 million in Q1.
- Increased Cash Reserves
- Cash and cash equivalents rose to $80.1 million as of March 31, 2026, compared to $62.3 million at the end of September 2025.
- DHC and ILPT Incentives
- Incentive fees received from DHC and ILPT contributed positively to cash flows.
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.
- Declining Operating Income
- Operating income decreased to $7.041 million, down from $7.56 million in the previous quarter.
- Revenue Impact from AlerisLife Wind Down
- Revenue from management services decreased by $3.7 million due to the wind down of AlerisLife's business.
- Interest Expense Increases
- Interest expense surged to $2.611 million from $0.871 million in the prior period.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.15
- Operating margin
- 4.2%
What they said about what is next.
No numeric guidance provided for future periods.
The filing reads about the same as the one before it.
What came before.
- 10-Q · February 4, 2026
- RMR reported total revenues of $180,424,000 and net income attributable to The RMR Group Inc. of $12,190,000 (EPS $0.71) for the three months ended December 31, 2025. Revenue declined versus the year-ago quarter…
- 10-K · November 12, 2025
- RMR positions itself as a vertically integrated real estate manager with $39.0 billion of assets under management as of September 30, 2025, and a strategy to expand management services and diversify client and capital…
- 10-Q · August 5, 2025
- RMR reported Q3 total revenues of $154,728,000 (three months ended June 30, 2025), down versus $205,670,000 in the year-ago quarter, with operating income of $9,973,000 (operating margin ~6.44%). Net income attributable…
- 10-Q · May 6, 2025
- RMR reported a material year-over-year decline in quarterly revenue to $166,668,000 (Q3 FY?) from $217,947,000 a year earlier, driven largely by a reduction in reimbursable activity. Operating income fell to $7,560,000…
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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