Phillips Edison & Company (PECO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Phillips Edison & Company published the results on October 26, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Phillips Edison & Company reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Nareit FFO per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Phillips Edison & Company is a REIT. Revenue here is the total revenues line of its statement of operations (rental income, fees and management income, and other property income), and EPS is net income per share attributable to stockholders, diluted. Its headline earnings measure is Nareit FFO per diluted share, shown in the adjusted row; PECO calculates FFO per share including OP units.
• Q3 2026 net income includes a $40.6 million gain on disposal of property, against $4.3 million a year earlier. FFO excludes such gains.

Source: Phillips Edison & Company Q3 2026 results, October 26, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Phillips Edison & Company splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Phillips Edison & Company's Rental income revenue was $189 million in Q3 2026, up 6% from $178 million in Q3 2025, 98% of total revenue.
• Phillips Edison & Company's Fees and management income revenue was $3.5 million in Q3 2026, up 6% from $3.3 million in Q3 2025, 2% of total revenue.
• Phillips Edison & Company's Other property income revenue was $0.7 million in Q3 2026, down 38% from $1.1 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The release's guidance table gives full-year 2026 ranges of $1.21-$1.24 for diluted net income per share, $2.68-$2.72 for Nareit FFO per diluted share, $2.75-$2.79 for Core FFO per diluted share and 3.50%-4.00% for same-center NOI growth.

In its Q3 2026 release, Phillips Edison & Company said:

“The increased midpoint of full year 2026 Nareit FFO per diluted share guidance of $2.70 represents 6.3% year-over-year growth”

“The increased midpoint of full year 2026 Core FFO per diluted share guidance of $2.77 represents 6.5% year-over-year growth”

“The increased midpoint of full year 2026 same-center NOI guidance represents 3.75% year-over-year growth”

“Full year 2026 gross acquisitions guidance reflects a range of $600 million to $700 million”

Source: PECO Q3 2026 release, Oct 26, 2026.

This is the company's own guidance as of Oct 26, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PECO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues and diluted net income per share attributable to stockholders, each as first reported in that quarter's release. GAAP EPS moves with gains on property sales, which FFO excludes.

We do not hold a confirmed date for Phillips Edison & Company's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 26, 2026

Phillips Edison & Company (PECO) owns grocery-anchored neighborhood shopping centers, and its revenue is almost all rent. Total revenues were $193.1 million in Q3 2026, against $182.7 million, of which rental income was $188.9 million. Fees and management income from its joint ventures added $3.5 million. (PECO Q3 2026 release, Oct 26, 2026)

At September 30, 2026 PECO's wholly-owned portfolio was 300 properties with approximately 33.9 million square feet in 31 states, against 303 properties a year earlier. Leased portfolio occupancy was 97.5%, with anchor spaces at 99.0% and inline spaces at 95.1%. (PECO Q3 2026 release, Oct 26, 2026)

The rent roll leans on grocers. Grocery-anchored centers produce 93.6% of PECO's annualized base rent (ABR) and necessity-based goods and services 74.3%. Its largest Neighbors, as PECO calls its tenants, at December 31, 2025 were Kroger (5.2% of ABR), Publix (4.9%), Albertsons (3.6%) and Ahold Delhaize (3.3%). (PECO Q3 2026 supplemental information, Oct 26, 2026; PECO Form 10-K, 2025, Feb 10, 2026)

Rent growth comes from re-leasing at higher rents. In Q3 2026 comparable rent spreads were a record-high 25.2% on renewal leases, 26.3% on new leases and 25.5% combined, across 238 leases totaling approximately 1.1 million square feet. Same-center NOI rose 5.3% to $122.4 million across 275 properties owned for all of both periods. (PECO Q3 2026 release, Oct 26, 2026)

PECO recycles capital. In Q3 2026 it acquired $181.8 million of assets, including South Shore Commons on Staten Island, Publix-anchored Alafaya Square near Orlando and Kroger-anchored Easton Commons near Houston, and sold $87.1 million. In October 2026 it expanded and extended its joint venture with Northwestern Mutual, which will buy 13 PECO centers valued at approximately $377.5 million; PECO keeps about 14% and continues to manage them. (PECO Q3 2026 release, Oct 26, 2026)

Phillips Edison & Company reported Q3 2026 net income attributable to stockholders of $62.7 million, or $0.49 per diluted share, against $24.7 million, or $0.20. Much of the increase came from a $40.6 million gain on disposal of property, against $4.3 million a year earlier. (PECO Q3 2026 release, Oct 26, 2026)

PECO's own earnings measures strip out property gains and real estate depreciation. Nareit FFO rose 9.8% to $98.0 million, or $0.69 per diluted share, against $0.64, and Core FFO, which also excludes items such as transaction costs and debt extinguishment, rose 11.3% to $100.7 million, or $0.71 per diluted share, against $0.65. Depreciation and amortization was $68.9 million in the quarter. (PECO Q3 2026 release, Oct 26, 2026)

Interest expense, net was $28.1 million, against $28.5 million. PECO's debt carried a weighted-average interest rate of 4.5% with 85.2% fixed-rate, and net debt was 5.2x trailing 12-month adjusted EBITDAre. It issued 0.2 million shares through its ATM program in the quarter at a gross weighted average price of $42.20. (PECO Q3 2026 release, Oct 26, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Phillips Edison & Company gives full-year guidance in its release and raised it with Q3 2026 results. The midpoint of 2026 Nareit FFO guidance rose to $2.70 per diluted share (range $2.68-$2.72) and Core FFO to $2.77 (range $2.75-$2.79), which PECO said represent 6.3% and 6.5% growth. Same-center NOI growth guidance is 3.50%-4.00%, with a 3.75% midpoint. (PECO Q3 2026 release, Oct 26, 2026)

Guidance for diluted net income per share rose to $1.21-$1.24 from $0.95-$0.97; PECO's reconciliation of that range includes $0.48 per share of gains on property sales. PECO kept gross acquisitions guidance at $600 million to $700 million and lowered dispositions guidance to $175 million to $210 million. (PECO Q3 2026 release, Oct 26, 2026)

A consensus figure is the average of the models published by the analysts who cover Phillips Edison & Company, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Phillips Edison & Company's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PECO is on is PECO a buy or a sell?, what analysts expect next is on the PECO forecast, and what the company does is on the Phillips Edison & Company (PECO) stock page.

Every number on this page can be traced to a document Phillips Edison & Company published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.