EarningsQ2 2026 Earnings Report
MX:KIM Q2 2026 EPS Results
Actual EPS$3.98
Consensus EPS$3.55
Beat/MissBeat by +$0.43
One Year Ago EPS$4.16
MX:KIM Q2 2026 Revenue Results
Actual Revenue$10.03B
Expected Revenue$9.84B
Beat/MissBeat by +$190.07M
YoY Revenue Growth+4.35%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:KIM Upcoming Earnings
Kimco Realty's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:KIM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple strong operational and financial positives: clear leasing momentum (record small-shop occupancy, high new-leasing spreads), accelerating same-store NOI, improved credit losses, demonstrated capital recycling that materially upsized portfolio growth profile, sizable liquidity and a diversified financing event (3.5% exchangeable notes). Management also launched One Kimco and technology/AI initiatives expected to improve productivity and accelerate SNO conversion. Near-term headwinds include timing of transactional deployment, a competitive acquisition market with cap-rate compression, Painted Tree bankruptcy impacts, and leverage/maturity management. Overall, the positive operational execution and accretive capital recycling materially outweigh the manageable near-term challenges, indicating a favorable outlook.Company Guidance
FFO and Earnings Growth
FFO for Q2 was $309.2M or $0.46 per diluted share, up 4.5% year-over-year; raised the lower end of full-year 2026 FFO guidance to $1.83 (from $1.81) while maintaining the top end at $1.84.
Same-Property NOI and Operational Momentum
Same-property NOI grew 3.5% in the quarter (company raised FY same-property NOI guidance to 3.0%–3.5% from 2.8%–3.5%), with accelerated back-half expectations and continued improvement in recoveries and minimum rents.
Record Occupancy and Leasing Performance
Small shop occupancy reached a record 92.9%; overall pro rata portfolio occupancy matched an all-time high at 96.4% (despite a 16 bps negative impact from Painted Tree). Signed 461 leases covering 2.5M sq. ft. in Q2 at a blended spread of 13.1%; year-to-date leased over 7M sq. ft.
Strong New Leasing Mark-To-Market
New leasing: 161 deals covering 685k pro rata sq. ft. with a blended new-leasing spread of 40.4% (19th consecutive quarter of double-digit new leasing spreads); renewals/options totaled 300 deals across 1.9M sq. ft. at a blended spread of 7%.
SNO Pipeline Converting Faster Than Expected
Economic occupancy of the Signed-Not-Open (SNO) pipeline rose 20 bps to 92.4%; SNO represents $95M in annual base rent (with $75M incremental), 48% expected to commence by year-end. Projected rent commencements in 2026 revised up to $33M (16% higher than initial estimate).
Foot Traffic and Tenant Spending Strength
Foot traffic across centers increased 3% year-over-year (including 3.2% growth in June). Q&A data: middle-income tenant spending up ~5.5% and lower-income up ~3.5%.
Capital Recycling and Accretive Transactions
Completed sale of the Milton multifamily at a 4.9% cap rate (Pentagon Centre monetization); sold lower-growth assets (e.g., Costco leases) and redeployed proceeds into grocery-anchored acquisitions (Pompano Marketplace $53M and Sunshine Plaza $56M) via 1031—converting a sub-6% unlevered IRR into north of a 9% unlevered IRR (approx. +350 bps).
Strong Balance Sheet & Liquidity
Total liquidity of $2.7B including $700M cash on hand; consolidated net debt to EBITDA 5.2x (5.5x look-through). Successfully issued $600M exchangeable notes at a 3.5% coupon (initial exchange price ~$32.36, ~27.5% premium to issuance stock price) to diversify and extend maturities.
Improving Credit Metrics
Credit loss improved to 57 bps in the quarter (down from 89 bps in Q2 2025); year-to-date credit loss is 54 bps; guidance tightened to a 55–75 bps range (from 65–90 bps).
Operating Model & Technology Investments
Launched One Kimco (nationally aligned functional teams) and a unified data platform; company reports weekly AI utilization above 80% among associates and ~5x expense-savings return YTD on AI investments — expected to drive leasing productivity, faster SNO conversion, FFO growth and margin expansion over time.
Dividend Increase
Board raised the quarterly common cash dividend by 12% year-over-year to $0.28 per share ($1.12 annualized), reflecting stronger operating cash flows and taxable income.
MX:KIM 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