EarningsQ2 2026 Earnings Report
MX:BRX1 Q2 2026 EPS Results
Actual EPS$4.34
Consensus EPS$4.43
Beat/MissMissed by -$0.09
One Year Ago EPS$5.06
MX:BRX1 Q2 2026 Revenue Results
Actual Revenue$6.40B
Expected Revenue$6.41B
Beat/MissMissed by -$3.49M
YoY Revenue Growth+4.33%
Earnings Announcement Details
QuarterQ2 2026
Date07/27/2026
TimeAfter Close
Conference CallMonday, July 27, 2026
MX:BRX1 Upcoming Earnings
Brixmor Property's next earnings date is estimated for October 26, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:BRX1 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational picture: strong same-property NOI (5.8%), robust leasing with high new/renewal spreads, record signed-but-not-commenced and reinvestment pipelines, improved balance sheet metrics and an upgraded S&P outlook. The main negatives were timing and recognition issues (straight-line rent reversals, recapture-driven temporary occupancy declines and back‑loaded commencement of signed rents) and a modest widening of uncollectible revenue guidance. Overall, the positives (sustained NOI growth, raised guidance, large high-yield reinvestment pipeline and balance sheet improvements) materially outweigh the timing and one-time recognition headwinds.Company Guidance
Strong Same-Property NOI Growth
Same-property NOI increased 5.8% in Q2 2026, driven in part by a 440 basis point contribution from base rent and broad strength across collections and expense recoveries.
Raised 2026 Outlook for NOI and FFO
Company raised full-year same-property NOI growth guidance to 5.0%–5.75% and raised FFO guidance to $2.35–$2.37 per share, reflecting stronger operating fundamentals.
Quarterly FFO and Underlying Performance
Quarterly NAREIT FFO was $0.58 per share, supported by strong property performance and specialty income growth (record levels of specialty/auxiliary income).
Robust Leasing Results and Rent Spreads
Executed 1.4 million square feet of new and renewal leases at a blended cash spread of 19% (new lease spreads 31%, renewal spreads 16%), and achieved record embedded rent growth of 2.8% across new and renewal leases.
Record Signed-but-Not-Commenced Pipeline
Signed-but-not-commenced pipeline reached a record $71 million of annualized base rent, providing visible near- and medium-term rent commencement runway (a significant portion commencing in 2027+).
High Occupancy and Small-Shop Strength
Total leased occupancy finished the quarter at 94.8%. Small-shop occupancy reached a record level (approximately 92.6%), reflecting strong demand from restaurants, service, health & wellness and other categories.
Large Reinvestment & Development Pipeline
Active reinvestments totaled nearly $350 million (expected ~10% incremental yield) and the future pipeline exceeds $700 million. Added 8 new active projects and 4 new outparcel developments in the quarter; first half 10 outparcels at a 16% average incremental return.
Disciplined Acquisitions
Completed 4 strategic acquisitions totaling $164 million in Q2 (Mayfaire, Jones Crossing, Vintage Marketplace, Stanford Station) that fit the reinvestment/remodeling strategy; blended cap rate in the quarter was in the low-6% range.
Improved Balance Sheet & Liquidity
Repaid a $600 million maturity, issued $400 million of senior notes (5.375% coupon; effective ~5.22% after hedge), settled a forward hedge at 3.99%, reported leverage of ~5.3x and liquidity of $1.5 billion (including $115 million unsettled forward ATM); S&P revised outlook to positive.
MX:BRX1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed