--- title: "Brixmor Property Grp | 8-K: FY2026 Q2 Revenue: USD 354.2 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293969159.md" datetime: "2026-07-27T20:06:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293969159.md) - [en](https://longbridge.com/en/news/293969159.md) - [zh-HK](https://longbridge.com/zh-HK/news/293969159.md) generator: "portal-rs" --- # Brixmor Property Grp | 8-K: FY2026 Q2 Revenue: USD 354.2 M Revenue: As of FY2026 Q2, the actual value is USD 354.2 M. EPS: As of FY2026 Q2, the actual value is USD 0.24, missing the estimate of USD 0.245. EBIT: As of FY2026 Q2, the actual value is USD 178.59 M. ### Financial Performance #### Net Income Attributable to Brixmor Property Group Inc. Net income for the three months ended June 30, 2026, was $73.5 million, compared to $85.1 million for the same period in 2025. For the six months ended June 30, 2026, net income was $201.3 million, compared to $154.9 million for the same period in 2025. Net income per diluted share for the three months ended June 30, 2026, was $0.24, down from $0.28 in the previous year. #### Nareit FFO Nareit FFO was $178.6 million for the three months ended June 30, 2026, an increase from $171.5 million in the prior year period. For the six months ended June 30, 2026, Nareit FFO was $358.1 million, up from $342.6 million in the prior year period. Nareit FFO per diluted share for the three months ended June 30, 2026, was $0.58, up from $0.56. #### Same Property NOI Performance For the three months ended June 30, 2026, Brixmor Property Group Inc. reported an increase in same property NOI of 5.8% compared to the 2025 period, with a 440 basis point contribution from base rent. For the six months ended June 30, 2026, the Company reported an increase in same property NOI of 6.1% compared to the 2025 period. #### Total Revenues Total revenues were $354,199 thousand for the three months ended June 30, 2026, compared to $339,492 thousand for the same period in 2025. For the six months ended June 30, 2026, total revenues were $709,018 thousand, compared to $677,004 thousand for the same period in 2025. Rental income for the three months ended June 30, 2026, was $353,892 thousand, up from $339,397 thousand. #### Operating Expenses - **Operating costs**: $44,227 thousand for the three months ended June 30, 2026, compared to $39,877 thousand in 2025; $86,141 thousand for the six months ended June 30, 2026, compared to $79,088 thousand in 2025. - **Real estate taxes**: $44,279 thousand for the three months ended June 30, 2026, compared to $43,559 thousand in 2025; $89,682 thousand for the six months ended June 30, 2026, compared to $88,452 thousand in 2025. - **Depreciation and amortization**: $110,258 thousand for the three months ended June 30, 2026, compared to $103,277 thousand in 2025; $215,460 thousand for the six months ended June 30, 2026, compared to $208,874 thousand in 2025. - **Impairment of real estate assets**: $5,974 thousand for the three and six months ended June 30, 2026, with no impairment reported in 2025 for both periods. - **General and administrative**: $27,858 thousand for the three months ended June 30, 2026, compared to $29,093 thousand in 2025; $56,050 thousand for the six months ended June 30, 2026, compared to $57,266 thousand in 2025. - **Total operating expenses**: $232,596 thousand for the three months ended June 30, 2026, compared to $215,806 thousand in 2025; $453,307 thousand for the six months ended June 30, 2026, compared to $433,680 thousand in 2025. #### Other Income (Expense) - **Dividends and interest**: $3,912 thousand for the three months ended June 30, 2026, compared to $1,190 thousand in 2025; $7,117 thousand for the six months ended June 30, 2026, compared to $2,896 thousand in 2025. - **Interest expense**: -$60,898 thousand for the three months ended June 30, 2026, compared to -$54,409 thousand in 2025; -$120,290 thousand for the six months ended June 30, 2026, compared to -$108,493 thousand in 2025. - **Gain on sale of real estate assets**: $9,820 thousand for the three months ended June 30, 2026, compared to $15,755 thousand in 2025; $61,917 thousand for the six months ended June 30, 2026, compared to $18,825 thousand in 2025. - **Loss on extinguishment of debt, net**: $0 for the three and six months ended June 30, 2026, compared to -$296 thousand in 2025 for both periods. - **Other**: -$775 thousand for the three months ended June 30, 2026, compared to -$780 thousand in 2025; -$3,036 thousand for the six months ended June 30, 2026, compared to -$1,373 thousand in 2025. - **Total other expense**: -$47,941 thousand for the three months ended June 30, 2026, compared to -$38,540 thousand in 2025; -$54,292 thousand for the six months ended June 30, 2026, compared to -$88,441 thousand in 2025. #### Dividends The Board of Directors declared a quarterly cash dividend of $0.3075 per common share, equivalent to $1.23 per annum. Dividends declared were $94,363 thousand for the three months ended June 30, 2026, compared to $88,004 thousand in 2025. The dividend payout ratio (as % of Nareit FFO) was 52.8% for the three months ended June 30, 2026, compared to 51.3% in 2025. #### Net Operating Income (NOI) and Margin Net Operating Income (NOI) was $253,569 thousand for the three months ended June 30, 2026, an increase from $240,890 thousand. The NOI margin was 74.2%, slightly down from 74.3%. #### Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) EBITDA was $245,562 thousand for the three months ended June 30, 2026, up from $243,585 thousand. EBITDAre was $241,716 thousand, compared to $227,830 thousand. Adjusted EBITDA was $241,717 thousand, an increase from $228,127 thousand. Cash Adjusted EBITDA was $232,335 thousand, up from $214,313 thousand. #### Debt and Liquidity (As of June 30, 2026) Debt obligations, net, were $5,322,423 thousand. Net Principal Debt was $5,162,834 thousand. Net Principal Debt to Adjusted EBITDA was 5.3x on a current quarter annualized basis and 5.4x on a trailing twelve months basis. Cash and cash equivalents were $170,889 thousand. Total liquidity, including cash and available revolving credit, was $1,549,513 thousand. The percentage of total debt that is fixed was 100.0%, with a weighted average maturity of 4.9 years. #### Capital Expenditures (Three Months Ended June 30, 2026) Leasing related capital expenditures totaled $23,452 thousand. Maintenance capital expenditures were $8,405 thousand, resulting in total leasing related and maintenance capital expenditures of $31,857 thousand. Value-enhancing capital expenditures totaled $24,749 thousand. #### Acquisitions and Dispositions Brixmor Property Group Inc. completed $164.3 million in acquisitions of four shopping centers, including Mayfair Shopping Center ($70.0 million), Jones Crossing ($46.5 million), Vintage Marketplace ($32.7 million), and Stanford Station ($15.1 million). The aggregate purchase price of acquisitions was $164,325 thousand. The Company generated $15.1 million in gross proceeds from the disposition of two shopping centers during the three months ended June 30, 2026, and $123.0 million from six shopping centers for the six months ended June 30, 2026. The aggregate sale price of dispositions was $15,120 thousand for the three months ended June 30, 2026. #### Operational Metrics Brixmor Property Group Inc. executed 1.4 million square feet of new and renewal leases, with rent spreads on comparable space of 19.1%, where new leases were at 31.3% and renewals at 15.5%. Total leased occupancy reached 94.8%, anchor leased occupancy was 95.9%, and record small shop leased occupancy was 92.6%. $12.7 million of annualized base rent was commenced, and the leased to billed occupancy spread totaled 440 basis points. Signed but not yet commenced leases represented 3.1 million square feet and a record $71.2 million of annualized base rent. The Company stabilized $5.4 million of reinvestment projects at an 11% average incremental NOI yield, with the in-process pipeline totaling $347.8 million at an expected 10% average incremental NOI yield. #### Outlook / Guidance Brixmor Property Group Inc. updated its 2026 Nareit FFO per diluted share expectations to $2.35 - $2.37, an increase from the previous guidance of $2.34 - $2.37. The Company also raised its same property NOI growth expectations for 2026 to 5.00% - 5.75% from 4.75% - 5.50%. Revenues deemed uncollectible are projected to be 60 - 85 basis points of total expected revenues in 2026, excluding certain items that impact FFO comparability. ### Related Stocks - [BRX.US](https://longbridge.com/en/quote/BRX.US.md) ## Related News & Research - [Commerce Bank Invests $12.99 Million in Brixmor Property Group Inc. $BRX](https://longbridge.com/en/news/296696065.md) - [BlackRock Inc. 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