Phillips Edison Posts $30.4M Net Income in Q1 2026 as Revenue Climbs 7%

Phillips Edison & Company (NASDAQ: PECO), a real estate investment trust focused on grocery-anchored shopping centers, reported net income of $30.4 million for the three months ending March 31, 2026, up from $26.3 million in the same quarter of 2025. The company recorded earnings per share of $0.24, compared to $0.21 a year earlier. Read more earnings reports.

Total revenue reached $190.7 million for the first quarter of fiscal 2026, a 7% increase from $178.3 million in the prior-year period. Operating expenses rose to $132.5 million from $128.4 million, while labor and related expenses declined to $8.0 million from $8.5 million.

Balance Sheet Expansion

Total assets grew to $5.35 billion as of March 31, 2026, up from $5.29 billion at year-end 2025. The company's long-term debt increased to $2.49 billion from $2.38 billion over the same period. Cash and cash equivalents declined to $3.1 million from $3.5 million at December 31, 2025.

Stockholders' equity stood at $2.28 billion as of quarter-end, down slightly from $2.29 billion three months earlier. The company carried a retained deficit of $1.39 billion as of March 31, 2026, compared to $1.38 billion at the end of 2025.

Cash Flow Performance

Cash from operations totaled $55.6 million for the quarter, down from $60.5 million in the first quarter of 2025. Investing activities consumed $127.8 million in cash, less than the $163.6 million used in the prior-year period. Financing activities brought in $51.3 million, compared to $102.2 million a year earlier.

Depreciation and amortization expense totaled $65.5 million for the quarter, nearly flat compared to $65.3 million in the same period of 2025. The company reported 126.0 million shares outstanding as of the quarter-end.

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