EastGroup Properties Revenue Climbs 9% to $190.3M in Q1 2026

EastGroup Properties, Inc., a real estate investment trust focused on industrial properties, reported revenue of $190.3 million for the three months ended March 31, 2026, up 9% from $174.4 million in the same period a year earlier. Earnings per share jumped to $1.77 from $1.14, a 55% increase year-over-year. Read more earnings reports.

Cash generated from operations rose to $142.3 million in the first quarter of 2026, compared to $133.7 million in the first quarter of 2025. The company deployed $72.2 million in investing activities during the quarter, primarily for property acquisitions and development, down from $76.1 million in the prior-year period.

Total assets stood at $5.49 billion as of March 31, 2026, up from $5.43 billion at the end of December 2025. Stockholders' equity increased to $3.58 billion from $3.50 billion over the same period. The company held $31.4 million in cash and cash equivalents at quarter-end, a sharp increase from $1.0 million three months earlier.

Long-term debt totaled $1.62 billion as of March 31, 2026. Interest expense for the quarter climbed to $9.1 million from $8.0 million a year earlier, reflecting higher borrowing costs. Depreciation and amortization expense increased to $55.5 million from $52.5 million in the first quarter of 2025.

The company's share count grew to 53.8 million common shares outstanding as of quarter-end, up from 53.3 million at the end of 2025. Weighted average diluted shares for the quarter were 53.5 million, compared to 52.0 million in the prior-year period.

Cash used in financing activities totaled $39.8 million in the first quarter of 2026, less than the $54.6 million deployed in the same quarter of 2025. Total liabilities declined to $1.91 billion from $1.94 billion at year-end 2025.

Financial Summary