Modiv Industrial

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus estimates, headlined by a diluted GAAP EPS of $0.45 versus the $0.04 expected, primarily due to a $7.5 million gain on the sale of a Melbourne industrial property. Total revenue was $11.69 million, slightly beating the $11.63 million consensus, while the adjusted gross margin of 92.95% remained robust against a 92.00% expectation. The quarter's operational noise, including $2.8 million in merger-related costs, is secondary to the successful stockholder approval of the merger with Global Net Lease (GNL) on August 10, 2026. With the merger expected to close in mid-August, the company has ceased property acquisitions to focus on its transition.