Phillips Edison (PECO) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Fri, April 24, 2026 astatine 12:25 PM CDT 32 min read

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Friday, April 24, 2026 astatine 12 p.m. ET

• Chief Executive Officer — Jeffrey S. Edison

• President & Chief Financial Officer — Robert F. Myers

• Chief Financial Officer — John P. Caulfield

• Operator

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Jeffrey S. Edison: Thank you, Kimberly, and convey you everyone for joining america today. We are pleased to study different 4th of beardown results, which bespeak the spot of our high-quality portfolio and the consistency of our execution. The Phillips Edison & Company, Inc. squad delivered NAREIT FFO per stock maturation of 4.7%, halfway FFO per stock maturation of 6.2%, and same-center NOI maturation of 3.5%. We are pleased to summation our full-year 2026 guidance. Our maturation rates for NAREIT FFO and halfway FFO per stock are successful the mid to precocious azygous digits, accordant with our semipermanent targets. We are operating successful a clip wherever determination are galore ongoing uncertainties, some domestically and globally. Interest rates person been volatile.

The planetary commercialized representation is shifting, and conflicts overseas proceed to impact markets. Technology, particularly AI, is changing however companies work. Add successful an progressive predetermination rhythm and precocious vigor costs, and it is nary astonishment that determination is simply a wide feeling of uncertainty. In times similar this, the marketplace tends to reward businesses that person stability. And that is precisely wherever Phillips Edison & Company, Inc. plays: grocer-anchored, necessity-based, mundane retail. Phillips Edison & Company, Inc. offers resilience portion besides offering dependable growth. We judge Phillips Edison & Company, Inc. is built to present maturation crossed changing economical cycles. Our semipermanent maturation targets stay unchanged. We are maintaining our absorption connected driving worth astatine the spot level.

Our retailers are steadfast and proceed to look agelong term. We are seeing a resilient consumer, and our apical grocers and necessity-based retailers proceed to thrust coagulated ft postulation to our centers. One of the dynamics we are watching intimately is the spread betwixt backstage and nationalist marketplace pricing of assets. This influences our superior decisions, including however we money maturation and wherever we invest, and it is wherefore the Phillips Edison & Company, Inc. squad stays disciplined astir accessing the astir businesslike capital. Our level tin rise superior successful the nationalist markets, done organization associated ventures, and done plus recycling.

We judge markets successful 2026 volition reward companies with a focused maturation strategy and the quality to money maturation responsibly. Phillips Edison & Company, Inc. is good positioned to proceed to bash both. In summary, we are pleased with archetypal 4th results and our outlook for 2026. We run successful a resilient portion of retail. We are located successful the vicinity adjacent to your home. We are disciplined astir our investments. And astir importantly, we person the champion teams successful the business.