Revenue: As of FY2025 Q3, the actual value is USD 181.43 M, missing the estimate of USD 182.63 M.EPS: As of FY2025 Q3, the actual value is USD 0.49, beating the estimate of USD 0.4162.EBIT: As of FY2025 Q3, the actual value is USD 102.49 M.<h3>Segment Revenue</h3><ul><li>Same Store Properties: $492.3 million for the nine months ended September 30, 2025, compared to $465.1 million for the same period in 2024, an increase of 5.9%.</li><li>Acquired Properties: $8.2 million for the nine months ended September 30, 2025, compared to $0.5 million for the same period in 2024, an increase of 1715.0%.</li><li>Sold Properties: $0.7 million for the nine months ended September 30, 2025, compared to $9.4 million for the same period in 2024, a decrease of 92.8%.</li><li>(Re) Developments: $29.3 million for the nine months ended September 30, 2025, compared to $10.0 million for the same period in 2024, an increase of 192.4%.</li><li>Other: $8.1 million for the nine months ended September 30, 2025, compared to $9.1 million for the same period in 2024, a decrease of 10.4%.</li></ul><h3>Operational Metrics</h3><ul><li>Net Income: $177.1 million for the nine months ended September 30, 2025, compared to $225.5 million for the same period in 2024.</li><li>Property Expenses: $139.9 million for the nine months ended September 30, 2025, compared to $134.9 million for the same period in 2024, an increase of 3.7%.</li><li>General and Administrative Expense: $32.9 million for the nine months ended September 30, 2025, compared to $30.6 million for the same period in 2024, an increase of 7.3%.</li><li>Depreciation and Other Amortization: $136.7 million for the nine months ended September 30, 2025, compared to $128.4 million for the same period in 2024, an increase of 6.5%.</li><li>Interest Expense: $62.9 million for the nine months ended September 30, 2025, compared to $62.9 million for the same period in 2024.</li><li>Amortization of Debt Issuance Costs: $3.7 million for the nine months ended September 30, 2025, compared to $2.7 million for the same period in 2024, an increase of 34.7%.</li><li>Income Tax Provision: $6.2 million for the nine months ended September 30, 2025, compared to $4.9 million for the same period in 2024, an increase of 25.8%.</li></ul><h3>Cash Flow</h3><ul><li>Net Cash Provided by Operating Activities: $339.2 million for the nine months ended September 30, 2025, compared to $275.7 million for the same period in 2024.</li><li>Net Cash Used in Investing Activities: - $360.9 million for the nine months ended September 30, 2025, compared to - $67.5 million for the same period in 2024.</li><li>Net Cash Provided by (Used in) Financing Activities: $6.8 million for the nine months ended September 30, 2025, compared to - $196.9 million for the same period in 2024.</li></ul><h3>Unique Metrics</h3><ul><li>Tenant Retention: 71.5% for the nine months ended September 30, 2025.</li><li>Average Increase in Cash Rental Rates on New and Renewal Commenced Leases: 31.6% for the nine months ended September 30, 2025.</li><li>Quarter-End Occupancy: 94.0% as of September 30, 2025.</li></ul><h3>Future Outlook and Strategy</h3><h4>Core Business Focus</h4><ul><li>Internal Growth: Focus on increasing revenues through higher rental levels, contractual rent escalations, increasing occupancy, controlling property operating expenses, and renovating existing properties.</li><li>External Growth: Development and acquisition of industrial properties in key logistics markets, with an emphasis on coastal markets.</li><li>Portfolio Enhancement: Upgrading the portfolio by making new investments and selling assets that lack strong long-term cash flow growth potential.</li></ul><h4>Non-Core Business</h4><ul><li>Disposition Strategy: Continually evaluating local market conditions and property-related factors to identify assets suitable for disposition, focusing on properties with lower rent growth potential or that lack optimal functionality.</li><li>Financing Strategy: Utilizing proceeds from property sales, unsecured debt offerings, term loans, mortgage financings, line of credit borrowings, and issuance of additional equity securities to finance acquisitions, developments, and debt maturities.</li></ul><h4>Priority</h4><ul><li>Development Projects: Six development projects underway totaling 0.9 million square feet of GLA with an aggregate estimated investment of approximately $152.8 million.</li><li>Acquisitions: Acquired two industrial properties in Phoenix for $120.0 million, one income-producing land parcel in Northern California for $10.6 million, and 61.4 acres of land in Philadelphia for $15.7 million.</li><li>Sales: Sold four industrial properties and one land parcel for gross proceeds of $26.9 million.</li><li>Financing Activities: Issued $450.0 million of senior notes due January 2031, amended and restated the Unsecured Credit Facility to increase borrowing capacity to $850.0 million, and extended the maturity date to March 2029.</li></ul>

First Industrial Realty | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 181.43 M