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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Phillips Edison & Company
Phillips Edison & Company (PECO) investor relations material
Phillips Edison & Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Oct, 2026
Executive summary
Q3 same-center NOI grew 5.3%; Core FFO/share rose 9.2% and Nareit FFO/share rose 7.8%. Midpoint 2026 guidance increased for NOI and both FFO measures.
Portfolio spans 328 properties and 37.4M sq. ft.; 94% of ABR comes from grocery-anchored centers and 74% from necessity-based tenants.
Long-term targets remain 3%-4% same-center NOI growth and mid- to high-single-digit Core FFO/share growth.
Financial highlights
Q3 revenue rose 5.7% YoY to $193.1M; rental income increased 6.0% to $188.9M.
Q3 Nareit FFO was $98.0M, or $0.69/share, and Core FFO was $100.7M, or $0.71/share; per-share growth was 7.8% and 9.2%, respectively.
Q3 net income attributable to stockholders was $62.7M versus $24.7M, including a $40.6M property-disposal gain versus $4.3M a year earlier.
9M revenue was $573.4M, up 6.4%; diluted EPS was $1.05 versus $0.51, and Core FFO/share was $2.09 versus $1.94.
9M same-center NOI increased 4.3% to $361.8M; Q3 same-center NOI rose 5.3% to $122.4M.
Outlook and guidance
Updated FY26 guidance: diluted EPS $1.21-$1.24, Nareit FFO/share $2.68-$2.72, and Core FFO/share $2.75-$2.79.
FY26 same-center NOI guidance is 3.50%-4.00%, with 3.75% midpoint growth; midpoint Nareit and Core FFO/share growth is 6.3% and 6.5%.
Gross acquisition guidance is $600M-$700M; disposition guidance is $175M-$210M, lowered from $200M-$250M.
Q4 NOI growth is expected to reflect recovery-income timing; healthy rent growth is expected to continue, with higher Q4 G&A than Q3.
2027 priorities include internal growth, disciplined investment, cost-efficient capital raising and balance-sheet flexibility; further detail planned for Dec. 16.
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Latest events from Phillips Edison & Company
- 2023 FFO and NOI growth, with 97.4% occupancy, supports higher 2024 guidance.PECO
Q4 2023 - High-occupancy, grocery-anchored portfolio drives strong growth, stability, and market leadership.PECOInvestor presentation
- Retail REITs leverage strong fundamentals and disciplined growth to target 9–10% annual returns.PECOBarclays 24th Annual Global Financial Services Conference
- Record leasing, strong acquisitions, and necessity-based focus drive resilient long-term growth.PECOBofA NY Global Real Estate Conference 2026
- Market-leading grocery-anchored REIT with high occupancy, strong growth, and robust financials.PECOInvestor presentation
- Delivers market-leading growth and stability through grocery-anchored centers and disciplined strategy.PECOInvestor presentation
- Q2 2026 saw record occupancy, robust earnings, and raised guidance amid strong retail demand.PECOQ2 2026
- Strong Q3 FFO growth, high occupancy, and raised guidance highlight continued momentum.PECOQ3 2024
- 2025 guidance targets 5%+ FFO growth and $350M-$450M acquisitions, driven by high occupancy.PECOQ4 2024
Next Phillips Edison & Company earnings date
Status update16 Dec, 2026
Phillips Edison & Company
Next Phillips Edison & Company earnings date
Status update16 Dec, 2026
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Frequently asked questions
Grocery-Anchored Shopping Centers
Phillips Edison & Company (PECO) is a prominent name within the retail real estate sector, having been operational since 1991. Specializing in grocery-anchored shopping centers the company has 300 locations under its ownership across the United States, Phillips Edison's influence and market share in the country is vast. PECO is, like many similar companies, run as a Real Estate Investment Trust.
Origins and Expansion
Established in the early '90s by Jeffrey Edison and Michael Phillips, PECO's initial objective was to acquire and manage retail properties with potential for growth. The company's strategy largely revolved around identifying undervalued assets and enhancing their market value. In a market with other noteworthy competitors such as Simon Property Group and Kimco Realty, PECO carved a distinct path for itself by focusing primarily on properties that were anchored by grocery stores. Even if they’re not unique in this, it's an area that PECO has managed to perform well in over the years. One consistent aspect of PECO's growth trajectory has been its willingness to enter partnerships and perform acquisitions.
The Properties
PECO’s properties span a vast geographical footprint in the United States. Typically, the shopping centers they own and manage are strategically located in areas with high visibility and easy access, often at the intersection of major roads. The centers are typically a bustling environment with lots of traffic from both cars and pedestrians, with grocery stores being the primary draw, supplemented by an assortment of other retail establishments – from cafes and restaurants to fitness centers and specialty shops. Major grocery chains such as Kroger and similar establishments can lease their locations without needing to own the properties outright.
Peco Is a REIT
A Real Estate Investment Trust (REIT) is a company that specializes in owning, overseeing, or financing income-producing properties in diverse real estate segments. Designed to provide regular income streams, possible asset appreciation, and tax benefits, REITs issue shares to the public which can be traded on major stock exchanges. By law, they must distribute at least 90% of their taxable income to shareholders in the form of dividends.