First Industrial Realty Q4 EPS beats estimates

Reuters
02/05
First Industrial Realty Q4 EPS beats estimates

Overview

  • Logistics real estate firm's Q4 revenue slightly beat analyst expectations

  • EPS for Q4 beat analyst expectations

  • Company increased quarterly dividend by 12.4%

Outlook

  • Company initiates 2026 NAREIT FFO guidance at $3.09 to $3.19 per share/unit

  • First Industrial expects 2026 net income of $1.58 to $1.68 per share/unit

  • Company anticipates cash basis SS NOI growth of 5.0% to 6.0% in 2026

Result Drivers

  • CASH RENTAL RATE INCREASE - Co reported a 32% increase in cash rental rates for leases commencing in 2025, with a 35% increase for leases signed to date commencing in 2026

  • ACQUISITIONS AND DEVELOPMENTS - Acquired a 968,000 SF building in Phoenix and started new developments in Miami and Dallas

  • REFINANCING - Co refinanced $425 mln and $375 mln unsecured term loans, extending maturities and eliminating previous SOFR adjustments

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

Slight Beat*

$188.41 mln

$187.22 mln (7 Analysts)

Q4 EPS

Beat

$0.59

$0.42 (5 Analysts)

Q4 Net Income

$86.95 mln

Q4 Adjusted FFO

$73.62 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Press Release: ID:nPn8RGGQxa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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