MIAMI, April 30, 2026 (GLOBE NEWSWIRE) -- Laureate Education, Inc. (NASDAQ: LAUR), which operates five higher education institutions across Mexico and Peru, today announced financial results for the first quarter of 2026.
First Quarter 2026 Highlights (compared to first quarter 2025):
New enrollments increased 9%.Total enrollments increased 6%.On a reported basis, revenue increased 15% to $272.6 million. On a constant currency basis1, revenue increased 1% and was unfavorably affected by approximately $9 million of intra-year academic calendar timing attributable to later semester start dates in the first quarter of 2026 as compared to the first quarter of 2025.Operating loss for the first quarter of 2026 was $(27.5) million, compared to an operating loss of $(13.2) million for the first quarter of 2025. Operating results in the first quarter of 2026 were unfavorably affected by intra-year academic calendar timing as well as higher depreciation and amortization expenses related to growth initiatives including campus expansions and new campus investments as compared to the first quarter of 2025.Net loss for the first quarter of 2026 was $(21.6) million, compared to a net loss of $(19.6) million for the first quarter of 2025.Adjusted EBITDA for the first quarter (seasonally low quarter) of 2026 was $(2.3) million, compared to Adjusted EBITDA of $5.4 million for the first quarter of 2025. Adjusted EBITDA in the first quarter of 2026 was unfavorably affected by approximately $9 million of intra-year academic calendar timing attributable to later semester start dates in 2026 as compared to 2025.Laureate expects that the intra-year academic calendar timing impacts on revenue and Adjusted EBITDA will be offset in the third quarter.
Eilif Serck-Hanssen, President and Chief Executive Officer, said “We are pleased to report favorable new enrollment results from the recently completed primary intake cycle in Peru and the secondary intake cycle in Mexico. Our operating trends remain on track with our expectations for the year. Additionally, we continue to return excess capital to shareholders, having completed approximately $105 million in share repurchases during the first quarter. As a result, we are increasing our full-year Adjusted Earnings Per Share guidance.”
Mr. Serck-Hanssen added, “I am also proud to share that we recently published our annual Impact Report, highlighting the meaningful and measurable difference we make in the lives of our students and their families, by expanding access to quality higher education and serving as a vital part of our communities. Our impact is driven by a team of more than 30,000 dedicated faculty and staff who embody our values every day. I thank them for their unwavering commitment to our mission.”
1 Constant currency results exclude the period-over-period impact from currency fluctuations.
First Quarter 2026 Results
New enrollments for the first quarter of 2026 increased 9%, compared to new enrollment activity for the first quarter of 2025, and total enrollments were up 6% compared to the prior-year quarter.
Through the end of the enrollment intake cycle completed in April 2026, new and total enrollments also increased 9% and 6%, respectively, as compared to the comparable prior-year intake period. New enrollments in Peru increased 13% during the primary intake as compared to the comparable period in the prior-year, and total enrollments grew 8%. In Mexico, both new and total enrollments were up 4% during the secondary intake completed in April 2026, as compared to the comparable prior-year intake period.
For the first quarter of 2026, revenue on a reported basis was $272.6 million, an increase of $36.4 million, or 15%, compared to the first quarter of 2025. On a constant currency basis, revenue increased 1%. Revenue for the first quarter of 2026 was unfavorably affected by approximately $9 million of intra-year academic calendar timing attributable to later semester start dates in 2026 as compared to 2025. Operating loss for the first quarter of 2026 was $(27.5) million, compared to an operating loss of $(13.2) million for the first quarter of 2025, a change of $14.3 million, mainly driven by the unfavorable effect of intra-year academic calendar timing of semester start dates in addition to higher depreciation and amortization expenses related to growth initiatives including campus expansions and new campus investments as compared to the first quarter of 2025. Net loss for the first quarter of 2026 was $(21.6) million, compared to $(19.6) million for the first quarter of 2025. Basic and diluted loss per share for the first quarter of 2026 was $(0.15), compared to $(0.13) for the first quarter of 2025.
Adjusted EBITDA for the first quarter of 2026 was $(2.3) million, compared to Adjusted EBITDA of $5.4 million for the first quarter of 2025. Adjusted EBITDA for the first quarter of 2026 was unfavorably affected by approximately $9 million of intra-year academic calendar timing attributable to later semester start dates in the 2026 period as compared to the 2025 period.
Balance Sheet and Capital Structure
As of March 31, 2026, Laureate had $157.4 million of cash and cash equivalents and gross debt of $217.1 million. Accordingly, net debt was $59.7 million as of March 31, 2026.
Laureate repurchased approximately $105 million of its common stock during the first quarter of 2026 under the existing stock repurchase program. As of March 31, 2026, Laureate had approximately $76 million of stock repurchase authorization remaining under its existing stock repurchase program.
As of March 31, 2026, Laureate had 140.0 million total shares outstanding.
Outlook for Fiscal 2026
Laureate is updating its 2026 outlook for Adjusted Earnings Per Share (Adjusted EPS) to reflect the impact from share repurchases completed during the first quarter.
Based on assumed foreign exchange rates2, Laureate expects its full-year 2026 results to be as follows:
Total enrollments are still expected to be in the range of 516,000 to 521,000 students, reflecting growth of 4%-5% versus 2025;Revenues are still expected to be in the range of $1,890 million to $1,905 million, reflecting growth of 11%-12% on an as-reported basis and growth of 6%-7% on a constant currency basis versus 2025;Adjusted EBITDA is still expected to be in the range of $583 million to $593 million, reflecting growth of 12%-14% on an as-reported basis and 7%-9% on a constant currency basis versus 2025; andAdjusted EPS is now expected to be in the range of $2.00 - $2.08 per share3, reflecting growth of 16%-21% on an as-reported basis. Reconciliations of forward-looking non-GAAP measures, specifically the outlook for 2026 Adjusted EBITDA and Adjusted EPS, to the relevant forward-looking GAAP measures are not being provided, as Laureate does not currently have sufficient data to accurately estimate the variables and individual adjustments for such outlooks and reconciliations. Due to this uncertainty, Laureate cannot reconcile projected Adjusted EBITDA and projected Adjusted EPS to projected net income and projected earnings per share, respectively, without unreasonable effort. Please see the “Forward-Looking Statements” section in this release for a discussion of certain risks related to this outlook.
Conference Call
Laureate will host an earnings conference call today at 8:30 am ET. Interested parties are invited to listen to the earnings call by registering at https://bit.ly/LAURQ12026 to receive dial-in information. The webcast of the conference call, including replays, and a copy of this press release and the related slides will be made available through the Investor Relations section of Laureate’s website at www.laureate.net.
2 Based on actual FX rates for January-April 2026, and assumed FX rates (local currency per U.S. Dollar) of MXN 17.95 and PEN 3.45 for May 2026 - December 2026. FX impact may change based on fluctuations in currency rates in future periods.
3 Assumes diluted weighted average shares outstanding of approximately 141 million.
Forward-Looking Statements
This press release includes statements that express Laureate’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, ‘‘forward-looking statements’’ within the meaning of the federal securities laws, which involve risks and uncertainties. Laureate’s actual results may vary significantly from the results anticipated in these forward-looking statements. You can identify forward-looking statements because they contain words such as ‘‘believes,’’ ‘‘expects,’’ ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘seeks,’’ ‘‘approximately,’’ ‘‘intends,’’ ‘‘plans,’’ ‘‘estimates’’ or ‘‘anticipates’’ or similar expressions that concern our strategy, plans or intentions. In particular, statements regarding the amount, timing, process, tax treatment and impact of any future dividends represent forward-looking statements. All statements we make relating to guidance (including, but not limited to, total enrollments, revenues, Adjusted EBITDA and Adjusted EPS), and all statements we make relating to our current growth strategy and other future plans, strategies or transactions that may be identified, explored or implemented and any litigation or dispute resulting from any completed transaction are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, including with respect to our current growth strategy and the impact of any completed divestiture or separation transaction on our remaining businesses. Accordingly, our actual results may differ materially from those we expected. We derive most of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Important factors that could cause actual results to differ materially from our expectations are disclosed in our Annual Report on Form 10-K filed with the SEC on February 19, 2026, our subsequent Quarterly Reports on Form 10-Q filed, and to be filed, with the SEC and other filings made with the SEC. These forward-looking statements speak only as of the time of this release and we do not undertake to publicly update or revise them, whether as a result of new information, future events or otherwise, except as required by law.
Presentation of Non-GAAP Measures
In addition to the results provided in accordance with U.S. generally accepted accounting principles (GAAP) throughout this press release, Laureate provides the non-GAAP measurements of Adjusted EBITDA, Adjusted net income, Adjusted EPS, and total debt, net of cash and cash equivalents (or net debt). We have included the non-GAAP measures of Adjusted EBITDA and net debt because they are key measures used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. We have included the non-GAAP measures of Adjusted net income and Adjusted EPS because management believes that these measures provide investors with better visibility into Laureate's underlying earnings as they exclude items that may not be indicative of our core operating results.
Adjusted EBITDA consists of net income (loss), before (income) loss from discontinued operations, net of tax, equity in net (income) loss of affiliates, net of tax, income tax expense (benefit), (gain) loss on disposal of subsidiaries, net, foreign currency exchange (gain) loss, net, other (income) expense, net, interest expense, interest income, and loss on debt extinguishment, plus depreciation and amortization, share-based compensation expense, and loss on impairment of assets. The exclusion of certain expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core business. Additionally, Adjusted EBITDA is a key input into the formula used by the compensation committee of our board of directors and our Chief Executive Officer in connection with the payment of incentive compensation to our executive officers and other members of our management team. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors.
We define Adjusted net income as net income (loss), before (income) loss from discontinued operations, plus discrete tax items, loss on debt extinguishment, loss (gain) on disposal of subsidiaries, net, foreign currency exchange (gain) loss, net, and loss on impairment of assets. We define Adjusted EPS as Adjusted net income divided by GAAP diluted weighted average shares outstanding. Adjusted net income and Adjusted EPS provide a useful indicator about Laureate’s earnings from core operations.
Total debt, net of cash and cash equivalents, (or net debt) consists of total gross debt less total cash and cash equivalents. Net debt provides a useful indicator about Laureate’s leverage and liquidity.
Free Cash Flow consists of operating cash flow minus capital expenditures (net of sales of PP&E). Free Cash Flow provides a useful indicator about Laureate’s ability to fund its operations and repay its debt.
Adjusted EBITDA to Unlevered Free Cash Flow Conversion consists of Unlevered Free Cash Flow (which is defined as cash flows from operating activities, less capital expenditures (net of sales of PP&E), plus net cash interest expense) divided by Adjusted EBITDA. Adjusted EBITDA to Unlevered Free Cash Flow provides useful information to investors and others in understanding and evaluating our ability to generate cash flows.
Laureate’s calculations of Adjusted EBITDA, Adjusted net income, Adjusted EPS, and total debt, net of cash and cash equivalents (or net debt) are not necessarily comparable to calculations performed by other companies and reported as similarly titled measures. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results. Adjusted EBITDA, Adjusted net income and Adjusted EPS are reconciled from their most directly comparable GAAP measures in the attached tables under “Non-GAAP Reconciliations.”
We evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We believe that providing constant currency information provides valuable supplemental information regarding our results of operations, consistent with how we evaluate our performance. We calculate constant currency amounts using the change from prior-period average foreign exchange rates to current-period average foreign exchange rates, as applied to local-currency operating results for the current period.
About Laureate Education, Inc.
Laureate Education, Inc. operates five higher education institutions across Mexico and Peru, enrolling approximately 500,000 students in high-quality undergraduate, graduate, and specialized degree programs through campus-based and online learning. Our universities have a deep commitment to academic quality and innovation, strive for market-leading employability outcomes, and work to make higher education more accessible. At Laureate, we know that when our students succeed, countries prosper, and societies benefit. Learn more at laureate.net.
Key Metrics and Financial Tables
(Dollars in millions, except per share amounts, and may not sum due to rounding)
New and Total Enrollments by segment
New Enrollments Total Enrollments Change Change YTD 1Q 2026 YTD 1Q 2025 Total Timing
Adj.(1) As of 03/31/2026 As of 03/31/2025 Total Timing
Adj.(1)Mexico45,300 44,200 2% 4% 259,900 250,200 4% 4%Peru57,400 49,800 15% 13% 247,800 226,800 9% 8%Laureate102,700 94,000 9% 9% 507,700 477,000 6% 6%
(1) Includes enrollments through completion of the intake cycles that ended in April 2026 and April 2025
Consolidated Statements of Operations
For the three months ended March 31,IN MILLIONS (except per share amounts) 2026 2025 ChangeRevenues$272.6 $236.2 $36.4 Costs and expenses: Direct costs 289.0 238.4 50.6 General and administrative expenses 11.1 11.0 0.1 Operating loss (27.5) (13.2) (14.3)Interest income 1.9 1.5 0.4 Interest expense (3.1) (2.4) (0.7)Other income, net 0.4 — 0.4 Foreign currency exchange gain (loss), net 1.0 (3.2) 4.2 Loss from continuing operations before income taxes (27.3) (17.3) (10.0)Income tax benefit (expense) 5.7 (2.5) 8.2 Loss from continuing operations (21.6) (19.8) (1.8)Income from discontinued operations, net of tax — 0.2 (0.2)Net loss (21.6) (19.6) (2.0)Net loss attributable to noncontrolling interests — 0.1 (0.1)Net loss attributable to Laureate Education, Inc.$(21.6) $(19.5) $(2.1) Basic and diluted earnings (loss) per share: Basic and diluted weighted average shares outstanding 142.3 147.6 (5.3)Basic and diluted loss per share$(0.15) $(0.13) $(0.02) Revenue and Adjusted EBITDA by segmentIN MILLIONS
% Change $ Variance ComponentsFor the three months ended March 31, 2026 2025 Reported Constant
Currency(1) Total Constant
Currency FXRevenues Mexico$210.6 $189.3 11% (4)% $21.3 $(8.3) $29.6 Peru 62.0 46.9 32% 21% 15.1 9.9 5.2 Corporate & Eliminations — 0.1 (100)% (100)% (0.1) (0.1) — Total Revenues$272.6 $236.2 15% 1% $36.4 $1.6 $34.8 Adjusted EBITDA Mexico$41.5 $53.0 (22)% (33)% $(11.5) $(17.4) $5.9 Peru (34.9) (38.8) 10% 18% 3.9 7.1 (3.2)Corporate & Eliminations (8.9) (8.8) (1)% (1)% (0.1) (0.1) — Total Adjusted EBITDA$(2.3) $5.4 (143)% (193)% $(7.7) $(10.4) $2.7
(1) Constant Currency results exclude the period-over-period impact from currency fluctuations. Constant Currency is calculated using the change from prior-period average foreign exchange rates to current-period average foreign exchange rates, as applied to local-currency operating results for the current period. The “Constant Currency” percentage changes are calculated by dividing the Constant Currency amounts by the 2025 Revenues and Adjusted EBITDA amounts.
Consolidated Balance Sheets
IN MILLIONSMarch 31, 2026 December 31, 2025 ChangeAssets Cash and cash equivalents$157.4 $146.7 $10.7 Receivables (current), net 55.5 134.7 (79.2)Other current assets 57.8 36.9 20.9 Property and equipment, net 633.5 628.6 4.9 Operating lease right-of-use assets, net 453.8 335.6 118.2 Goodwill and other intangible assets 800.3 803.5 (3.2)Deferred income taxes 74.6 72.2 2.4 Other long-term assets 46.7 46.4 0.3 Current and long-term assets held for sale 1.7 1.7 — Total assets$2,281.1 $2,206.4 $74.7 Liabilities and stockholders' equity Accounts payable and accrued expenses$211.2 $242.4 $(31.2)Deferred revenue and student deposits 130.4 80.2 50.2 Total operating leases, including current portion 506.9 387.8 119.1 Total long-term debt, including current portion 215.8 127.7 88.1 Other liabilities 167.5 179.6 (12.1)Total liabilities 1,231.7 1,017.6 214.1 Redeemable equity 1.4 1.4 — Total stockholders' equity 1,048.1 1,187.4 (139.3)Total liabilities and stockholders' equity$2,281.1 $2,206.4 $74.7 Consolidated Statements of Cash Flows
For the three months ended March 31,IN MILLIONS 2026 2025 ChangeCash flows from operating activities Net loss$(21.6) $(19.6) $(2.0)Depreciation and amortization 22.6 16.1 6.5 Gain on lease terminations and disposals of subsidiaries and property and equipment, net (0.1) (0.3) 0.2 Deferred income taxes (2.6) 4.9 (7.5)Unrealized foreign currency exchange (gain) loss (1.5) 2.9 (4.4)Income tax receivable/payable, net (31.9) (20.9) (11.0)Working capital, excluding tax accounts 74.6 56.0 18.6 Other non-cash adjustments 22.5 18.7 3.8 Net cash provided by operating activities 61.9 57.8 4.1 Cash flows from investing activities Purchase of property and equipment (8.3) (4.6) (3.7)Receipts from sales of property and equipment — 0.1 (0.1)Net cash used in investing activities (8.3) (4.6) (3.7)Cash flows from financing activities Increase in long-term debt, net 71.5 7.5 64.0 Payments to repurchase common stock and excise tax payments (108.2) (39.5) (68.7)Financing other, net (4.6) (2.7) (1.9)Net cash used in financing activities (41.3) (34.6) (6.7)Effects of exchange rate changes on Cash and cash equivalents and Restricted cash (1.4) 0.9 (2.3)Change in cash included in current assets held for sale — (0.4) 0.4 Net change in Cash and cash equivalents and Restricted cash 10.9 19.1 (8.2)Cash and cash equivalents and Restricted cash at beginning of period 152.1 97.9 54.2 Cash and cash equivalents and Restricted cash at end of period$163.0 $116.9 $46.1
Non-GAAP Reconciliation (1 of 2)
The following table reconciles Net loss to Adjusted EBITDA:
For the three months ended March 31,IN MILLIONS 2026 2025 ChangeNet loss$(21.6) $(19.6) $(2.0)Plus: Income from discontinued operations, net of tax — (0.2) 0.2 Loss from continuing operations (21.6) (19.8) (1.8)Plus: Income tax (benefit) expense (5.7) 2.5 (8.2)Loss from continuing operations before income taxes (27.3) (17.3) (10.0)Plus: Foreign currency exchange (gain) loss, net (1.0) 3.2 (4.2)Other income, net (0.4) — (0.4)Interest expense 3.1 2.4 0.7 Interest income (1.9) (1.5) (0.4)Operating loss (27.5) (13.2) (14.3)Plus: Depreciation and amortization 22.6 16.1 6.5 EBITDA (4.9) 2.9 (7.8)Plus: Share-based compensation expense(1) 2.6 2.5 0.1 Adjusted EBITDA$(2.3) $5.4 $(7.7)
(1) Represents non-cash, share-based compensation expense pursuant to the provisions of ASC Topic 718, "Stock Compensation."
Non-GAAP Reconciliations (2 of 2)
The following table reconciles Net loss to Adjusted net loss and Adjusted EPS:
For the three months ended March 31, 2026 2025 IN MILLIONS, except per share amounts (per share)(1) (per share)(1)Net loss$(21.6) $(0.15) $(19.6) $(0.13)Plus: Income from discontinued operations, net of tax — — (0.2) — Loss from continuing operations (21.6) (0.15) (19.8) (0.13)Plus: Discrete tax items(2) (1.3) (0.01) 1.9 0.01 Loss on debt extinguishment — — — — Loss on disposal of subsidiaries, net — — — — Foreign currency exchange (gain) loss, net (1.0) (0.01) 3.2 0.02 Loss on impairment of assets — — — — Adjusted net loss$(23.9) $(0.17) $(14.7) $(0.10) Diluted weighted average shares outstanding 142.3 147.6
(1) Per share amounts on a dilutive basis. Earnings per share is calculated based on income available to common shareholders, which excludes income attributable to noncontrolling interests.
(2) Beginning in the fourth quarter of 2025, Laureate determined that the interest related to certain legacy tax liabilities, which is recorded as a component of income tax (benefit) expense and totaled $(1.3) million and $1.9 million for the three months ended March 31, 2026 and 2025, respectively, should be excluded from Adjusted net loss and treated as a discrete tax item as this provides a more useful indicator of Laureate's earnings from core operations. The reduction of interest during the three months ended March 31, 2026 related to a court ruling that reduced a statutory interest rate. For comparability and to conform the prior year to the current presentation, Laureate has revised the 2025 amount for discrete tax items by $1.9 million to adjust for the interest related to these legacy tax liabilities that was recorded during the three months ended March 31, 2025.
Laureate Education (LAUR - Free Report) came out with a quarterly loss of $0.17 per share in line with the Zacks Consensus Estimate. This compares to a loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.
A quarter ago, it was expected that this for-profit higher education purveyor would post earnings of $0.76 per share when it actually produced earnings of $0.76, delivering no surprise.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Laureate Education, which belongs to the Zacks Schools industry, posted revenues of $272.6 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 1.11%. This compares to year-ago revenues of $236.2 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Laureate Education shares have lost about 6.2% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for Laureate Education?While Laureate Education has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Laureate Education was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.00 on $605.33 million in revenues for the coming quarter and $2.14 on $1.94 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Schools is currently in the top 11% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Universal Technical Institute (UTI - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 6.
This school for auto, motorcycle and marine technicians is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Universal Technical Institute's revenues are expected to be $221.45 million, up 6.8% from the year-ago quarter.
May 21, 2026 16:15 ET | Source: Laureate Education, Inc.
MIAMI, May 21, 2026 (GLOBE NEWSWIRE) -- Laureate Education, Inc. (NASDAQ: LAUR), which operates five higher education institutions across Mexico and Peru, today announced the election of Julian Coulter as an independent member of the Laureate Education, Inc. Board of Directors at today’s 2026 Annual Meeting of Stockholders.
“We are excited to welcome Julian Coulter to Laureate’s Board of Directors. Julian brings a strong combination of marketing leadership, digital expertise, and operating experience. We look forward to his contributions as we continue driving growth and creating meaningful long-term value for our shareholders,” said Andrew B. Cohen, Chair of the Board.
Eilif Serck-Hanssen, President and Chief Executive Officer, added, “Julian will bring to our Board critical skills and expertise in technological and commercial innovation as we are in a period of accelerated digital adoption and rising demand for AI enablement. His track record in these areas will add depth to the Company and support strong governance and long-term value creation.”
Mr. Coulter is the Global Managing Director, Food, Beverage & Restaurants at Google, Inc., a global technology company, and previously held various leadership positions at Google from 2018 to 2025 in Mexico and Peru. Prior to Google, Mr. Coulter held several other international digital strategy and commercial operations leadership positions, including at Sony Corporation and SABMiller. From 2019 to 2025, Mr. Coulter served as a Board Member of Delosi, S.A., an operator of international restaurant franchises including Starbucks and Burger King. Mr. Coulter earned a B.A. in Economics from Trinity College Dublin and an M.B.A. from Harvard Business School.
As previously planned, Kenneth W. Freeman and Dr. Judith Rodin did not stand for re-election as directors at the 2026 Annual Meeting of Stockholders.
“On behalf of the Board of Directors, the management team and our stakeholders, I thank Ken and Judy for their many years of dedication, thoughtful leadership and valuable contributions. Their service on the Board and its committees has been instrumental in strengthening the Company’s governance and advancing our strategic and operational objectives,” said Mr. Cohen.
Following these changes, Laureate's Board is comprised of nine directors, eight of whom are independent. Laureate believes that maintaining a Board with the optimal mix of skills, expertise and experience is critical to the delivery of long-term value for stockholders and the achievement of superior academic outcomes for our students.
About Laureate Education, Inc.
Laureate Education, Inc. operates five higher education institutions across Mexico and Peru, enrolling approximately 500,000 students in high-quality undergraduate, graduate, and specialized degree programs through campus-based and online learning. Our universities have a deep commitment to academic quality and innovation, strive for market-leading employability outcomes, and work to make higher education more accessible. At Laureate, we know that when our students succeed, countries prosper, and societies benefit.
On June 09, 2026, Laureate Education Inc LAUR shares rose 3.1% today, trading at $35.22. The stock has shown a notable performance over the past year, with a 60.7% increase. It has fluctuated between a 52-week high of $37.91 and a low of $21.53.
GF Value™ verdict: Current price of $35.22 is 57.7% above the GF Value™ of $22.34, indicating the stock is overvalued.GF Score™ of 71/100 suggests the company is performing above average compared to its peers.Insiders sold $2.3 million in shares over the last three months, with no purchases indicating cautious sentiment. Is LAUR Overvalued or Undervalued? According to GF Value™, Laureate Education Inc is currently trading at a significant premium to its estimated fair value of $22.34. The current price of $35.22 represents a 57.7% overvaluation, suggesting that the stock carries a high risk for potential investors. A significant margin of safety is absent in this scenario, which often serves as a protective buffer for investors against unforeseen market fluctuations. The GF Valuation label classifies LAUR as "Significantly Overvalued," and this indicates that the stock price may be unsustainable in the long run.
While the potential for a stock to return to its fair value exists, the substantial overvaluation poses risks, particularly if market conditions shift or if the company's performance does not meet investor expectations. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
How Does LAUR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 18.5x 17.3x Forward P/E 16.8x N/A Laureate Education's current P/E ratio of 18.5x is 7% higher than its 5-year median P/E of 17.3x, indicating that the stock is trading at a premium relative to its historical valuation. This analysis aligns with the GF Value™ verdict, reinforcing the idea that LAUR is overvalued at its current price level.
What Does LAUR's GF Score™ Tell Us? Metric Rating GF Score™ 71 Financial Strength 6/10 Profitability 8/10 Growth 8/10 Valuation 3/10 Momentum 1/10 The GF Score™ of 71/100 indicates that Laureate Education is performing above average relative to its peers, particularly in areas like Profitability (8/10) and Growth (8/10). However, the Valuation score of 3/10 highlights a significant weakness in this area, which is consistent with the overvaluation indicated by the GF Value™. The low Momentum rank of 1/10 suggests that the stock may not be experiencing strong positive price movements, which could further contribute to volatility.
What Are Insiders Doing with LAUR Stock? In recent months, insider activity at Laureate Education has shown that insiders sold $2.3 million worth of shares without any buying activity. This pattern may suggest a lack of confidence among executives in the company's near-term prospects or an attempt to capitalize on the current high stock price. Such actions can often be a red flag for investors, indicating that those closest to the company might not expect significant appreciation in the stock's value in the near future.
What This Means for Investors Based on the analysis, Laureate Education Inc LAUR is currently overvalued according to the GF Value™ assessment. The significant premium over the estimated fair value poses risks for potential investors, and caution may be warranted given the recent insider selling activity.
For the complete analysis, visit the Laureate Education Inc LAUR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is LAUR's GF Score™?
LAUR has a GF Score™ of 71/100, indicating it is performing above average compared to its peers.
Is LAUR overvalued or undervalued?
LAUR is considered overvalued, with a current price that is 57.7% higher than its estimated fair value of $22.34.
What is LAUR's P/E ratio?
LAUR's P/E (TTM) ratio is 18.5x, which is higher than its historical 5-year median of 17.3x, indicating a premium valuation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Exclusive luxury home community offers elegant designs and resort-style amenities Exclusive luxury home community offers elegant designs and resort-style amenities
Exclusive gated community offers luxury homes in a desirable coastal location Exclusive gated community offers luxury homes in a desirable coastal location
Toll Brothers (TOL - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Over the past month, shares of this home builder have returned 0%, compared to the Zacks S&P 500 composite's +1.9% change. During this period, the Zacks Building Products - Home Builders industry, which Toll Brothers falls in, has gained 3.1%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Toll Brothers is expected to post earnings of $2.98 per share, indicating a change of -20.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -12.8% over the last 30 days.
For the current fiscal year, the consensus earnings estimate of $12.67 points to a change of -6.1% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $14.18 indicates a change of +12% from what Toll Brothers is expected to report a year ago. Over the past month, the estimate has changed -1.1%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Toll Brothers is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For Toll Brothers, the consensus sales estimate for the current quarter of $2.64 billion indicates a year-over-year change of -10.3%. For the current and next fiscal years, $10.7 billion and $11.16 billion estimates indicate -2.4% and +4.3% changes, respectively.
Last Reported Results and Surprise HistoryToll Brothers reported revenues of $2.53 billion in the last reported quarter, representing a year-over-year change of -7.6%. EPS of $2.72 for the same period compares with $3.5 a year ago.
Compared to the Zacks Consensus Estimate of $2.41 billion, the reported revenues represent a surprise of +5.07%. The EPS surprise was +5.43%.
Over the last four quarters, Toll Brothers surpassed consensus EPS estimates three times. The company topped consensus revenue estimates each time over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Toll Brothers is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Toll Brothers. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
SUNNYVALE, Calif., June 08, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced the highly anticipated grand opening of four model homes at Outlook at The Station, a new community of luxury condominiums in Sunnyvale, California. The grand opening event will take place on Saturday, June 13, 2026 at 306 Tea Tree Terrace No. 3 in Sunnyvale. Home shoppers are invited to tour the beautifully designed Toll Brothers model homes and explore the community’s resort-style amenities.
Outlook at The Station offers a collection of innovative condominium designs featuring 1 to 3 bedrooms, 974 to 1,955+ square feet, and 1 to 2 stories. The homes are thoughtfully designed with open-concept floor plans, stunning architecture, and elegant finishes. Pricing starts from the upper $800,000s.
"We are thrilled to unveil our four new model homes at Outlook at The Station, showcasing the exceptional luxury and modern design that Toll Brothers is known for," said Alli Sweeney, Division President of Toll Brothers in Northern California. "This amenity-rich community offers a unique opportunity for home shoppers to enjoy a vibrant lifestyle in the heart of Silicon Valley."
Homeowners at Outlook at The Station will enjoy exclusive access to an array of resort-style amenities, including a pool, clubhouse, fitness center, co-work mezzanine, entertainment lounge, dog park, children’s playground, outdoor fireplace, and picnic areas. The community also features dynamic walking paths and open spaces, creating a welcoming and connected environment.
Located in the highly sought-after city of Sunnyvale, Outlook at The Station provides convenient access to major tech employers, Caltrain stations, freeways, and airports. Residents are just minutes from premium shopping, dining, farmers' markets, and recreational opportunities. The community is also served by highly ranked schools, including Ellis Elementary School, Sunnyvale Middle School, and Fremont High School, as well as private school options.
For more information on Outlook at The Station and to schedule an appointment to tour the model homes, call 844-790-5263 or visit TollBrothers.com/CA.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | [email protected]
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3d2636db-4429-46ef-8861-bc39aa966845
https://www.globenewswire.com/NewsRoom/AttachmentNg/626eba6a-0970-4637-8866-6485f84f29dd
Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)
LAS VEGAS, June 09, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, today announced the final opportunity for home shoppers seeking a move-in-ready residence with designer finishes at Toll Brothers at Skye Canyon - Paloma Collection in Las Vegas, Nevada. The final three move-in ready homes, including two professionally designed Toll Brothers model homes, are now available for purchase, offering new home shoppers the rare opportunity to own one of the community’s most celebrated showcase residences. The final homes are priced from the mid-$700,000s.
Located within the award-winning Skye Canyon master plan in northwest Las Vegas, the final homes available in the Paloma Collection feature spacious two-story home designs ranging from approximately 2,263 to 2,897 square feet with 3 to 4 bedrooms, flexible living spaces, and thoughtfully designed indoor/outdoor living environments. Home shoppers interested in the final homes in the Paloma Collection will benefit from purchasing a fully designed home in which every detail—from flooring and cabinetry to outdoor entertaining spaces—has been thoughtfully selected and installed.
The Avella and Nola model homes are designed by professional interior designers, with each residence showcasing elevated finishes, custom millwork, premium lighting selections, designer furnishings, and carefully curated color palettes. Architecturally, the model homes embrace contemporary desert-modern design, with expansive windows that frame mountain and valley views, soaring ceilings and two-story spaces, and seamless transitions between indoor and outdoor living areas.
“These final homes demonstrate the exceptional design vision behind the Paloma Collection,” says Janet Love, Division President for Toll Brothers in Las Vegas. “Purchasing a decorated model home allows our homeowners to enjoy a professionally designed living environment from day one so they can start enjoying their new Toll Brothers lifestyle right away.”
The community combines luxury home design with access to resort-style amenities including an onsite pool and access to the Skye Canyon amenity center, plus nearby recreation and outdoor adventure.
Located at 9000 Cielo Canyon Street in Las Vegas, Toll Brothers at Skye Canyon - Paloma Collection and final quick move-in homes are open for tours by appointment. For more information, call 855-700-8655 or visit TollBrothersLasVegas.com.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
LIBERTY HILL, Texas, June 09, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, today announced it will host a Model Home Grand Opening event at the Austin-area Santa Rita Ranch community on Saturday, June 13, from 2 p.m. to 5 p.m. Located at 131 Modello Way in Liberty Hill, Texas, home shoppers are invited to explore three stunning new model homes in Eldorado Village at Santa Rita Ranch and experience the exceptional lifestyle offered in this amenity-rich master-planned community.
Santa Rita Ranch – Eldorado offers three distinct collections of single-family home designs ranging from 2,238 to over 4,700 square feet situated on 50-, 60-, and 70-foot-wide home sites with Texas Hill Country views. Homes are priced from the low $500,000s.
"We are thrilled to unveil our new model homes in Eldorado Village at Santa Rita Ranch," said Brandon Cooper, Division President of Toll Brothers in Austin. "These homes showcase the exceptional craftsmanship, innovative design, and luxury living that Toll Brothers is known for, all set within one of the most sought-after communities in the Austin area."
Residents of Santa Rita Ranch enjoy access to award-winning amenities, including six resort-style pools, splash pads, water slides, parks, trails, a wellness barn, and a full-time "Director of Fun." The community also offers onsite conveniences such as a clubhouse, fitness center, dog park, and multiple event lawns, providing an unparalleled living experience. Santa Rita Ranch is part of the highly rated Liberty Hill Independent School District, making it an ideal choice for families.
Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home shoppers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants. Santa Rita Ranch – Eldorado also offers move-in ready homes for those looking to move into their new home before the next school year.
Santa Rita Ranch has earned numerous accolades, including "Best of the Best Amenities in the Austin Area" by the Austin American-Statesman and multiple "Community of the Year" awards by the Austin Business Journal and Home Builder Association of Greater Austin.
For more information and to schedule an appointment to tour the model homes, call 833-405-8655 or visit TollBrothers.com/TX.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
JACKSONVILLE, Fla., June 10, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its Toll Brothers at Marsh Harbor community, located in Ponte Vedra, Florida, has been honored with Best of Show and Gold awards at the 2026 Northeast Florida Parade of Homes.
Presented by the Northeast Florida Builders Association, the Parade of Homes recognizes excellence in home building, architecture, interior design, craftsmanship, and merchandising. Winners are selected through a judged evaluation of local model homes based on design quality, functionality, innovation, and overall buyer appeal.
Located in one of Northeast Florida’s most desirable coastal settings, Toll Brothers at Marsh Harbor showcases sophisticated architectural design, professionally curated interiors, and thoughtfully crafted living spaces that exemplify the Toll Brothers commitment to luxury living and exceptional quality. Homes in the community are priced from $1.67 million.
“We are honored that Toll Brothers at Marsh Harbor has been recognized with Best of Show at the 2026 Northeast Florida Parade of Homes,” said Greg Netro, Group President of Toll Brothers in North Florida. “This award is a testament to the passion and expertise of our team and reflects our dedication to creating homes that offer outstanding design, superior craftsmanship, and an elevated living experience.”
Toll Brothers at Marsh Harbor offers an exclusive collection of luxury homes featuring expansive floor plans, refined indoor/outdoor living spaces, and opportunities for personalization through the Toll Brothers Design Studio. Each home is designed to deliver a seamless blend of elegance, comfort, and functionality tailored to today’s luxury home buyers.
Toll Brothers customers can experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home shoppers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers Professional Design Consultants.
For more information about Toll Brothers at Marsh Harbor or other Toll Brothers communities throughout Florida, call 844-871-7466 or visit TollBrothers.com/FL.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
PALM DESERT, Calif., June 10, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, today announced its University Park community is nearing completion, offering home shoppers the final opportunity to own a new home in this prestigious master plan in Palm Desert, California. A limited number of quick move-in homes, including a move-in ready professionally decorated model home, are now available for purchase in the community, located at 36233 Karsten St in Palm Desert.
University Park features distinct neighborhoods, including Stella and Alara, each offering exceptional architecture and thoughtfully designed floor plans. Homes in Alara start from the upper $600,000s, while Stella offers luxury homes starting from just over $900,000. Alara at University Park also has one designer-decorated model home available for immediate purchase, showcasing elegant finishes curated by professional designers.
"University Park has been one of our most sought-after communities, and we are thrilled to offer home shoppers these final opportunities to own in this incredible master-planned neighborhood," said Brad Hare, Division President of Toll Brothers in Southern California. "With thoughtfully designed homes, exceptional amenities, and a prime Palm Desert location, University Park truly offers an unparalleled lifestyle."
Residents of University Park enjoy access to The Grove, an exclusive community recreation center featuring a clubhouse, resort-style pools, spas, fire pits, pickleball courts, bocce ball, an event lawn, and shaded play areas. The community is conveniently located near high-end shopping, world-class golf courses, and the Palm Springs International Airport, making it an ideal location for luxury living.
Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home shoppers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.
For more information, contact Toll Brothers at 866-232-1631 or visit TollBrothers.com/CA.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
DENTON, Texas, June 11, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its newest Dallas-Fort Worth area community, Toll Brothers at Landmark, is now open in Denton, Texas. Situated within the sought-after and lifestyle-focused Landmark by Hillwood master plan, this highly anticipated community offers an impressive selection of modern home designs and access to a robust collection of amenities. The Sales Center is now open at 8109 Prairie Park Blvd in Denton.
Toll Brothers at Landmark features single-family homes with versatile single- and two-story floor plans on 60-foot-wide home sites. Home shoppers can select from a variety of designs offering 3 to 6 bedrooms, 2.5 to 6.5 baths, and 2- to 3-car garages. Homes are priced from the upper $600,000s.
Located just twenty minutes from downtown Denton, Toll Brothers at Landmark provides convenient access to major commuter routes including Interstate 35E, Interstate 35W, and Highway 114. The community is also close to exceptional shopping, dining, and entertainment options in Denton, Highland Village, Northlake, and Flower Mound.
"Toll Brothers at Landmark offers the perfect blend of luxury home designs and a vibrant community setting," said Jay Saunders, Division President of Toll Brothers in Dallas-Fort Worth. "Home shoppers will enjoy a convenient location, access to resort-style amenities in this lifestyle-focused master planned community, and the opportunity to personalize every detail of their Toll Brothers home."
Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The Design Studio allows home shoppers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.
The resort-style community includes an onsite amenity center, walking and biking trails, parks, an oversized pool, a splash pad, a dog park, open spaces for recreation, STEAM learning parks, future onsite schools, and more.
For more information about Toll Brothers at Landmark, visit TollBrothers.com/Dallas or call 855-289-8656.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
CARSON CITY, Nev., June 11, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced it is down to its final home for sale in Venado Valley, an exclusive Toll Brothers community located in Carson City, Nevada.
Venado Valley features 40 single-family homes in a private enclave nestled within a picturesque setting on the edge of the Carson Range. The final home for sale is a Scout Modern Craftsman design with 2,337 square feet of living space featuring 4 bedrooms, 3 bathrooms, and a 3-car garage. The home’s thoughtful design includes a covered patio for seamless indoor/outdoor living, well-appointed kitchen, casual dining space, and spacious primary suite with a large walk-in closet and spa-inspired primary bath with free-standing tub. The final home is priced at $750,000.
Venado Valley is conveniently located less than 40 minutes from Lake Tahoe and just minutes from Carson City’s historic downtown, offering easy access to nearby shops, restaurants, and outdoor recreation.
"Venado Valley embodies the perfect balance of luxury and small-town charm in a scenic mountain setting," said Donna O'Connell, Division President of Toll Brothers in Reno. "With only one home remaining, this is the final opportunity for home shoppers to join this extraordinary community."
The Toll Brothers Sales Center is located at 1693 Venado Valley Circle in Carson City and is open by appointment only. For more information, contact Toll Brothers at 855-400-8655 or visit VenadoValley.com.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | [email protected]
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1c9ead64-a50f-4fdd-9ac0-4ae3eb9e734e
https://www.globenewswire.com/NewsRoom/AttachmentNg/75c292ae-cc7b-436a-ae8c-867836f1f8f8
https://www.globenewswire.com/NewsRoom/AttachmentNg/75c292ae-cc7b-436a-ae8c-867836f1f8f8
Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)
PEAPACK, N.J., June 12, 2026 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced its newest luxury home community, Peapack Crossing, is coming soon to Somerset County, New Jersey. Featuring two distinct collections of homes, Peapack Crossing will offer a rare blend of serenity and convenience in one of New Jersey’s most desirable locations. Site work is underway, and the community is anticipated to open for sale later this summer 2026.
Peapack Crossing will showcase luxury carriage-style townhomes and single-family homes on private, wooded home sites. The Carriages Collection will feature two-story townhomes ranging from approximately 3,045 to 3,551 square feet, with open-concept floor plans, walk-out basements, and two-car garages from $1.4 million. The Signature Collection will include single-family three-bedroom homes from $1.5 million. Modern two-story designs in the Signature collection will span over 3,100 square feet, offering spacious living areas and first-floor primary bedroom suites.
Toll Brothers customers will experience one-stop shopping at the Toll Brothers Design Studio. The state-of-the-art Design Studio allows home shoppers to choose from a wide array of selections to personalize their dream home with the assistance of Toll Brothers professional Design Consultants.
"Peapack Crossing is truly a special community that offers unparalleled luxury living in the heart of Somerset County," said Jill Sarcia, Division President of Toll Brothers in New Jersey. "With thoughtfully designed homes and an exceptional location near highly ranked schools, outdoor recreation, and local conveniences, this community is ideal for home shoppers seeking a sophisticated lifestyle."
Residents of Peapack Crossing will enjoy a prime location close to charming shops and restaurants, pristine outdoor recreation, and highly ranked schools in the Somerset Hills School District. The community also offers easy access to major transit routes, connecting residents to New York City, Morristown, and beyond.
For more information and to join the Toll Brothers interest list for Peapack Crossing, call (844) 834-5263 or visit TollBrothers.com/NJ.
About Toll Brothers
Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded in 1967 and became a public company in 1986 with common stock listed on the New York Stock Exchange under the symbol “TOL.” Toll Brothers builds new homes and communities in over 60 markets across the United States, serving first-time, move-up, active-adult, and second-home buyers. The Company also operates its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing businesses.
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine’s 2026 list of the World’s Most Admired Companies®, the ninth year the Company has achieved this honor. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
Rexford Industrial Realty remains a high-quality, pure-play industrial REIT focused on infill Southern California, benefiting from structural land scarcity. 2026 guidance points to flat-to-declining Core FFO, negative same-store NOI growth, and slightly lower occupancy, reflecting ongoing market headwinds. The dividend yield is 5.1% but offers no near-term growth; the payout ratio is elevated as AFFO trends downward, with sustainability but limited upside.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) is expected to announce its Q1 2026 results after the market closes on Thursday, April 23rd. Analysts expect Rexford Industrial Realty to post earnings of $0.2687 per share and revenue of $243.7850 million for the quarter. Rexford Industrial Realty has set its FY 2026 guidance at 2.350-2.400 EPS. Investors can check the company’s upcoming Q1 2026 earning summary page for the latest details on the call scheduled for Friday, April 24, 2026 at 11:00 AM ET.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 21.03% and a return on equity of 2.37%. The company had revenue of $243.43 million during the quarter, compared to analyst estimates of $249.05 million. During the same quarter last year, the business posted $0.58 EPS. Rexford Industrial Realty’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect Rexford Industrial Realty to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Rexford Industrial Realty Price Performance NYSE REXR opened at $35.67 on Thursday. The company has a market cap of $8.01 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 2.55 and a beta of 1.26. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $35.59 and its two-hundred day simple moving average is $39.04. Rexford Industrial Realty has a 52 week low of $31.08 and a 52 week high of $44.38.
Rexford Industrial Realty Increases Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.435 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.43. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.9%. Rexford Industrial Realty’s dividend payout ratio is 204.71%.
Insider Buying and Selling at Rexford Industrial Realty In other Rexford Industrial Realty news, CFO Michael Fitzmaurice purchased 2,650 shares of the business’s stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $37.55 per share, for a total transaction of $99,507.50. Following the completion of the transaction, the chief financial officer directly owned 14,133 shares in the company, valued at approximately $530,694.15. This represents a 23.08% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Laura E. Clark acquired 5,310 shares of Rexford Industrial Realty stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $37.73 per share, for a total transaction of $200,346.30. Following the completion of the purchase, the chief operating officer directly owned 5,310 shares of the company’s stock, valued at approximately $200,346.30. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 12,960 shares of company stock valued at $486,804. Insiders own 1.20% of the company’s stock.
Institutional Trading of Rexford Industrial Realty A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Rexford Industrial Realty by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,336,003 shares of the real estate investment trust’s stock valued at $1,097,172,000 after acquiring an additional 667,594 shares during the last quarter. State Street Corp increased its holdings in Rexford Industrial Realty by 4.9% during the 2nd quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust’s stock valued at $428,509,000 after purchasing an additional 556,810 shares during the period. Soroban Capital Partners LP increased its holdings in Rexford Industrial Realty by 57.2% during the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock valued at $326,925,000 after purchasing an additional 3,344,677 shares during the period. Northern Trust Corp raised its position in Rexford Industrial Realty by 0.6% during the 3rd quarter. Northern Trust Corp now owns 3,518,818 shares of the real estate investment trust’s stock valued at $144,659,000 after purchasing an additional 20,096 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Rexford Industrial Realty by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,496,852 shares of the real estate investment trust’s stock valued at $135,406,000 after purchasing an additional 70,587 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.
Analysts Set New Price Targets A number of equities analysts have recently commented on REXR shares. iA Financial set a $45.00 price target on shares of Rexford Industrial Realty in a report on Friday, February 6th. Barclays restated an “underweight” rating on shares of Rexford Industrial Realty in a research report on Tuesday, January 13th. Truist Financial lowered their price target on Rexford Industrial Realty from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Cantor Fitzgerald dropped their price target on Rexford Industrial Realty from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Finally, Scotiabank cut their price objective on Rexford Industrial Realty from $44.00 to $39.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and an average price target of $41.92.
Check Out Our Latest Analysis on REXR
About Rexford Industrial Realty (Get Free Report)
Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.
Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.
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Rexford Industrial Realty stands out among industrial REITs with investment-grade credit ratings and low leverage, supporting portfolio stability. REXR's preferred stocks (REXR.PR.B, REXR.PR.C) yield over 6.7%, trade below par, and offer superior risk-adjusted returns versus common shares' modest AFFO yield. Key credit metrics include a 5x Net Debt/EBITDA, 5.8x EBITDA coverage, and 99.25% unencumbered assets, reflecting strong financial flexibility.
, /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust ("REIT") focused on creating value by investing in and operating industrial properties throughout infill Southern California, today announced financial and operating results for the first quarter of 2026.
First Quarter 2026 Financial and Operational Highlights (all comparisons to First Quarter 2025)
Net income attributable to common stockholders of $87.9 million, or $0.38 per diluted share, as compared to $68.3 million, or $0.30 per diluted share. Company share of Core FFO of $139.8 million, a decrease of 0.9%. Company share of Core FFO per diluted share of $0.61, a decrease of 1.6%. Total Portfolio NOI of $185.4 million, a decrease of 4.2%. Same Property Portfolio NOI increased 0.9% and Same Property Portfolio Cash NOI decreased 0.4%. Average Same Property Portfolio occupancy of 96.3%. Executed 4.1 million square feet of new and renewal leases. Comparable rental rates decreased by 10.0%, compared to prior rents, on a net effective basis and decreased by 15.4% on a cash basis. Excluding the previously disclosed 1.1 million-square-foot Tireco, Inc. lease extension executed in the first quarter, comparable rental rates increased by 5.5% on a net effective basis and decreased by 1.8% on a cash basis. Stabilized two repositioning and development projects totaling 144,889 square feet. Sold five properties for a total sales price of $127.4 million, including two sites previously in the near-term development pipeline. Repurchased 5,534,357 shares of common stock for $200 million at a weighted average price of $36.14 per share. Subsequent to quarter end, the Board of Directors authorized a new $500 million stock repurchase program. Net Debt to Enterprise Value ratio of 29.2% and Net Debt to Adjusted EBITDAre of 4.5x. On April 1, 2026, Laura Clark assumed the role of Chief Executive Officer and John Nahas assumed the role of Chief Operating Officer as part of the Company's previously announced leadership succession plan. On January 1, 2026, David Stockert was appointed as an independent member of the Board. "Rexford delivered strong first quarter results driven by record leasing activity and continued execution of our strategic priorities," said Laura Clark, Chief Executive Officer. "Our focus on prioritizing occupancy and accretive capital recycling drove outperformance and an increase to our full‑year outlook. We are beginning to see early signs of market improvement and remain confident that our disciplined capital allocation, differentiated portfolio and favorable long-term supply‑demand dynamics will enable sustained value creation for our shareholders."
Financial
The Company reported net income attributable to common stockholders for the first quarter of $87.9 million, or $0.38 per diluted share, compared to $68.3 million, or $0.30 per diluted share, for the prior year quarter. Net income in the first quarter includes $26.3 million of gains on sale of real estate and $6.8 million of impairments, as compared to $13.2 million and $0, respectively, for the prior year quarter.
The Company reported its share of Core FFO for the first quarter of $139.8 million, representing a 0.9% decrease compared to $141.0 million for the prior year quarter. Core FFO of $0.61 per diluted share represents a decrease of 1.6% compared to $0.62 per diluted share for the prior year quarter. Company share of Core FFO decreased by $1.2 million, or $0.01 per diluted share year-over-year, primarily driven by higher NOI contributions from repositioning and development and Same Property Portfolio NOI, in addition to lower general and administrative expense related to the Co-CEO transition, offset by termination fee income recognized in the first quarter of 2025.
In the first quarter of 2026, Same Property Portfolio NOI and Cash NOI increased 0.9% and decreased 0.4%, respectively, compared to the prior year quarter. Same Property Portfolio NOI growth was primarily driven by higher average occupancy gains, partially offset by higher tenant reimbursement abatement. Same Property Cash NOI growth was primarily driven by contributions from average occupancy gains and annual contractual rent increases, offset by higher bad debt, lower releasing spreads and higher rent and tenant reimbursement abatement.
Operations
Q1 2026 Leasing Activity
Releasing Spreads(1)
Releasing Spreads Excluding
Tireco, Inc. Lease Extension(2)
# of Leases
Executed
SF of
Leasing
Net Effective
Cash
Net Effective
Cash
New Leases
59
1,296,230
(8.7) %
(12.8) %
(8.7) %
(12.8) %
Renewal Leases
85
2,829,822
(10.3) %
(15.9) %
11.8 %
3.0 %
Total Leases
144
4,126,052
(10.0) %
(15.4) %
5.5 %
(1.8) %
(1)
Net effective and cash rent statistics include leases in which there is comparable lease data. Please see the Company's supplemental financial reporting package for additional detail related to leasing activity in Q1 2026.
(2)
Excludes the previously disclosed 1.1 million-square-foot lease extension with Tireco, Inc. at 10545 Production Avenue executed in Q1 2026. The lease, which was originally set to expire in January 2027, was extended through April 2030 commencing on February 1, 2027. The above-market, in-place lease rate resulted in a net effective and cash releasing spread of (31.0)% and (33.5)% for the executed lease extension, respectively. This lease extension is not indicative of the Company's projected portfolio releasing spreads given the unique size, adjacent competitive supply and lease structure. The lease includes annual contractual rental rate increases of 2.75% and three months of rent abatement in 2027, in addition to a conversion to a gross lease from a triple net lease, which enables the Company to capture the benefit from any potential reduction in real estate property taxes.
As of March 31, 2026, the Company's Same Property Portfolio ending occupancy was 96.1%. Average Same Property Portfolio occupancy for the first quarter was 96.3%. The Company's total portfolio, excluding repositioning and development assets, was 95.2% occupied and 95.8% leased. The Company's total portfolio, including repositioning and development assets, was 90.7% occupied and 91.3% leased. The Company's improved land and industrial outdoor storage (IOS) sites, totaling approximately 8.3 million square feet or 189.7 acres, were 92.8% leased as of March 31, 2026.
Repositionings and Developments
During the first quarter of 2026, the Company leased one 37,844-square-foot repositioning project at 1315 Storm Parkway.
During the first quarter, the Company stabilized two repositioning and development projects, totaling 144,889 square feet, representing a total investment of $48.6 million. The projects achieved a weighted average stabilized return on cost of 5.3%.
Dispositions
During the first quarter of 2026, as previously disclosed, the Company disposed of five properties, totaling 314,693 square feet, for an aggregate sales price of $127.4 million, including two sites previously in the near-term development pipeline.
Subsequent to quarter end, the Company disposed of one property previously in the near-term development pipeline:
423-424 Berry Way, Brea, in the Orange County–North submarket for $16.5 million, or $56 per land square foot. The 6.8-acre site was sold vacant to a merchant builder. Through this disposition, the Company expects to preserve approximately $31 million of capital spend that was associated with the development. The Company has approximately $170 million in dispositions under contract or accepted offer, including three properties that were in the near-term development pipeline. These transactions are subject to customary due diligence and closing conditions; as such, there is no guarantee the Company will close on these transactions.
Balance Sheet
The Company ended the first quarter of 2026 with $1.3 billion of total liquidity, including $51.7 million in unrestricted cash on hand and $1.245 billion available under its unsecured revolving credit facility.
During the first quarter of 2026, the Company repurchased 5,534,357 shares of its common stock for $200 million, at a weighted average price of $36.14 per share. Subsequent to quarter end, the Company's Board of Directors authorized a new $500 million stock repurchase program, which superseded and replaced the prior program and is authorized through April 2028. The Company has full availability under the current program.
As of March 31, 2026, the Company had $3.3 billion of outstanding debt, with a weighted average interest rate of 3.7%, and no floating rate debt exposure. The weighted average term-to-maturity of the Company's outstanding debt is 3.0 years with no material debt maturities until 2027.
Dividends
On April 21, 2026, the Company's Board of Directors authorized a dividend in the amount of $0.435 per share for the second quarter of 2026, payable in cash on July 15, 2026, to common stockholders and common unit holders of record as of June 30, 2026.
On April 21, 2026, the Company's Board of Directors authorized a quarterly dividend of $0.367188 per share of its Series B Cumulative Redeemable Preferred Stock and a quarterly dividend of $0.351563 per share of its Series C Cumulative Redeemable Preferred Stock, payable in cash on June 30, 2026, to preferred stockholders of record as of June 15, 2026.
Leadership Transition and Board of Directors
On April 1, 2026, Laura Clark assumed the role of Chief Executive Officer and John Nahas assumed the role of Chief Operating Officer as part of the Company's leadership succession plan. Clark, who was appointed to the Board on November 17, 2025, succeeds Co-Chief Executive Officers Howard Schwimmer and Michael Frankel, who departed from their roles on March 31, 2026. Schwimmer and Frankel continue to serve as directors on the Board until their terms expire at the 2026 Annual Meeting of Shareholders on May 19, 2026.
On January 1, 2026, David Stockert joined the Company's Board of Directors as an independent member and serves on Board's Audit Committee.
Guidance
The Company is updating its full year 2026 guidance as indicated below. Please refer to the Company's supplemental information package for a complete detail of guidance and the 2026 Guidance Rollforward.
2026 Outlook
Q1 2026
Updated Guidance
Initial
2026 Guidance
Earnings
Net Income Attributable to Common Stockholders per diluted share(1)
$1.22 - $1.27
$1.15 - $1.20
Company share of Core FFO per diluted share(1)
$2.37 - $2.42
$2.35 - $2.40
Same Property Portfolio(2)
Same Property Portfolio NOI Growth - Net Effective
(2.0)% - (1.0)%
(2.5)% - (1.5)%
Same Property Portfolio NOI Growth - Cash
(1.5)% - (0.5)%
(2.0)% - (1.0)%
Average Same Property Portfolio Occupancy (Full Year)
2026 Net Income and Core FFO Guidance reflects the Company's in-place portfolio as of April 23, 2026, as well as guidance expectations related to investment activity.
(2)
2026 Same Property Portfolio is a subset of our consolidated portfolio and includes properties that were wholly owned for the period from January 1, 2025 through April 23, 2026, and excludes properties that were or will be classified as repositioning or development (current and future) or lease-up during 2025 and 2026 (unless otherwise noted) and select buildings in "Other Repositioning."
(3)
Represents estimated annualized Cash NOI for repositioning and development projects expected to stabilize in 2026, including 1315 Storm Parkway and 12118 Bloomfield Avenue which stabilized in the first quarter.
A number of factors could impact the Company's ability to deliver results in line with its guidance, including, but not limited to, the potential impacts related to interest rates, inflation, the economy, tariffs, geopolitical risks including impacts from the war in the Middle East, the supply and demand of industrial real estate, the availability and terms of financing to the Company or to potential acquirers of real estate and the timing and yields for divestment and investment. There can be no assurance that the Company can achieve such results.
Supplemental Information and Earnings Presentation
The Company's supplemental financial reporting package as well as an earnings presentation are available on the Company's investor relations website at ir.rexfordindustrial.com.
Earnings Release, Investor Conference Webcast and Conference Call
A conference call with executive management will be held on Friday, April 24, 2026, at 11:00 a.m. Eastern Time.
To participate in the live telephone conference call, please access the following dial-in numbers at least five minutes prior to the start time using Conference ID 5314484.
A live webcast and replay of the conference call will also be available at ir.rexfordindustrial.com.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of March 31, 2026, Rexford Industrial's high-quality, irreplaceable portfolio comprised 414 properties with approximately 50.4 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit rexfordindustrial.com.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Definitions / Discussion of Non-GAAP Financial Measures
Funds from Operations (FFO): We calculate FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts ("NAREIT"). FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of depreciable operating property, gains (or losses) from sales of assets incidental to our business, impairment losses of depreciable operating property or assets incidental to our business, real estate related depreciation and amortization (excluding amortization of deferred financing costs and amortization of above/below-market lease intangibles) and after adjustments for unconsolidated joint ventures. Management uses FFO as a supplemental performance measure because, in excluding real estate related depreciation and amortization, gains and losses from property dispositions, other than temporary impairments of unconsolidated real estate entities, and impairment on our investment in real estate, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure of performance used by other REITs, FFO may be used by investors as a basis to compare our operating performance with that of other REITs. However, because FFO excludes depreciation and amortization and captures neither the changes in the value of our properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effects and could materially impact our results from operations, the utility of FFO as a measure of our performance is limited. Other equity REITs may not calculate or interpret FFO in accordance with the NAREIT definition as we do, and, accordingly, our FFO may not be comparable to such other REITs' FFO. FFO should not be used as a measure of our liquidity and is not indicative of funds available for our cash needs, including our ability to pay dividends. FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance. A reconciliation of net income, the nearest GAAP equivalent, to FFO is set forth below in the Financial Statements and Reconciliations section. "Company Share of FFO" reflects FFO attributable to common stockholders, which excludes amounts allocable to noncontrolling interests, participating securities and preferred stockholders.
Core Funds from Operations (Core FFO): We calculate Core FFO by adjusting FFO for non-comparable items outlined in the "Reconciliation of Net Income to Funds From Operations and Core Funds From Operations" table, which is located in the Financial Statements and Reconciliations section below. We believe that Core FFO is a useful supplemental measure and that by adjusting for items that are not considered by the Company to be part of its on-going operating performance, provides a more meaningful and consistent comparison of the Company's operating and financial performance period-over-period. Because these adjustments have a real economic impact on our financial condition and results from operations, the utility of Core FFO as a measure of our performance is limited. Other REITs may not calculate Core FFO in a consistent manner. Accordingly, our Core FFO may not be comparable to other REITs' Core FFO. Core FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance. "Company Share of Core FFO" reflects Core FFO attributable to common stockholders, which excludes amounts allocable to noncontrolling interests, participating securities and preferred stockholders.
Reconciliation of Net Income Attributable to Common Stockholders per Diluted Share Guidance to Company Share of Core FFO per Diluted Share Guidance:
The following is a reconciliation of the Company's 2026 guidance range of net income attributable to common stockholders per diluted share, the most directly comparable forward-looking GAAP financial measure, to Company share of Core FFO per diluted share.
2026 Estimate
Low
High
Net income attributable to common stockholders
$ 1.22
$ 1.27
Company share of depreciation and amortization
1.24
1.24
Company share of impairment of real estate
0.03
0.03
Company share of gains on sale of real estate
(0.12)
(0.12)
Company share of Core FFO
$ 2.37
$ 2.42
Net Operating Income (NOI): NOI is a non-GAAP measure, which includes the revenue and expense directly attributable to our real estate properties. NOI is calculated as rental income from real estate operations less property expenses (before interest expense, depreciation and amortization). We use NOI as a supplemental performance measure because, in excluding real estate depreciation and amortization expense, gains (or losses) from property dispositions, impairment losses of depreciable operating property and other non-operating items, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that NOI will be useful to investors as a basis to compare our operating performance with that of other REITs. However, because NOI excludes depreciation and amortization expense and captures neither the changes in the value of our properties that result from use or market conditions, nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties (all of which have a real economic effect and could materially impact our results from operations), the utility of NOI as a measure of our performance is limited. Other equity REITs may not calculate NOI in a similar manner and, accordingly, our NOI may not be comparable to such other REITs' NOI. Accordingly, NOI should be considered only as a supplement to net income as a measure of our performance. NOI should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs.
NOI should not be used as a substitute for cash flow from operating activities in accordance with GAAP. We use NOI to help evaluate the performance of the Company as a whole, as well as the performance of our Same Property Portfolio. A calculation of NOI for our Same Property Portfolio, as well as a reconciliation of net income to NOI for our Same Property Portfolio, is set forth below in the Financial Statements and Reconciliations section.
Cash NOI: Cash NOI is a non-GAAP measure, which we calculate by adding or subtracting from NOI: (i) amortization of above/(below) market lease intangibles and amortization of other deferred rent resulting from sale leaseback transactions with below market leaseback payments and (ii) straight-line rent adjustments. We use Cash NOI, together with NOI, as a supplemental performance measure. Cash NOI should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs. Cash NOI should not be used as a substitute for cash flow from operating activities computed in accordance with GAAP. We use Cash NOI to help evaluate the performance of the Company as a whole, as well as the performance of our Same Property Portfolio. A calculation of Cash NOI for our Same Property Portfolio, as well as a reconciliation of net income to Cash NOI for our Same Property Portfolio, is set forth below in the Financial Statements and Reconciliations section.
Same Property Portfolio: Our 2026 Same Property Portfolio is a subset of our total portfolio and includes properties that were wholly owned by us for the period from January 1, 2025 through March 31, 2026, and excludes (i) properties that were acquired or sold during the period from January 1, 2025 through March 31, 2026, and (ii) properties acquired prior to January 1, 2025 that were classified as repositioning/development (current and future) or lease-up during 2025 and 2026 and select buildings in "Other Repositioning," which we believe will significantly affect the properties' results during the comparative periods. As of March 31, 2026, our 2026 Same Property Portfolio consisted of buildings aggregating 41.7 million rentable square feet at 342 of our properties.
Properties and Space Under Repositioning: Typically defined as properties or units where a significant amount of space is held vacant in order to implement capital improvements that improve the functionality (not including basic refurbishments, i.e., paint and carpet), cash flow and value of that space. A repositioning is generally considered complete once the investment is fully or nearly fully deployed and the property is available for occupancy.
Stabilization Date — Repositioning/Development Properties: We consider a repositioning/development property to be stabilized at the earlier of the following: (i) upon rent commencement and achieving 90% occupancy or (ii) one year from the date of completion of repositioning/development construction work.
Net Debt to Enterprise Value: As of March 31, 2026, we had consolidated indebtedness of $3.3 billion, reflecting a net debt to enterprise value of approximately 29.2%. Our enterprise value is defined as the sum of the liquidation preference of our outstanding preferred stock and preferred units plus the market value of our common stock excluding shares of nonvested restricted stock, plus the aggregate value of common units not owned by us, plus the value of our net debt. Our Net Debt is defined as our consolidated indebtedness less cash and cash equivalents.
Net Debt to Adjusted EBITDAre: Calculated as Net Debt divided by annualized Adjusted EBITDAre. We calculate Adjusted EBITDAre as net income (loss) (computed in accordance with GAAP), before interest expense, tax expense, depreciation and amortization, gains (or losses) from sales of depreciable operating property, impairment losses of depreciable property, non-cash stock-based compensation expense, acquisition expenses, the pro-forma effects of dispositions and other nonrecurring expenses. We believe that Adjusted EBITDAre is helpful to investors as a supplemental measure of our operating performance as a real estate company because it is a direct measure of the actual operating results of our industrial properties. We also use this measure in ratios to compare our performance to that of our industry peers. In addition, we believe Adjusted EBITDAre is frequently used by securities analysts, investors and other interested parties in the evaluation of Equity REITs. However, because Adjusted EBITDAre is calculated before recurring cash charges including interest expense and income taxes, and is not adjusted for capital expenditures or other recurring cash requirements of our business, its utility as a measure of our liquidity is limited. Accordingly, Adjusted EBITDAre should not be considered an alternative to cash flow from operating activities (as computed in accordance with GAAP) as a measure of our liquidity. Adjusted EBITDAre should not be considered as an alternative to net income or loss as an indicator of our operating performance. Other Equity REITs may calculate Adjusted EBITDAre differently than we do; accordingly, our Adjusted EBITDAre may not be comparable to such other Equity REITs' Adjusted EBITDAre. Adjusted EBITDAre should be considered only as a supplement to net income (as computed in accordance with GAAP) as a measure of our performance. A reconciliation of net income, the nearest GAAP equivalent, to Adjusted EBITDAre is set forth below in the Financial Statements and Reconciliations section.
Contact
Mikayla Lynch
Director, Investor Relations and Capital Markets
(424) 276-3454
[email protected]
Financial Statements and Reconciliations
Rexford Industrial Realty, Inc.
Consolidated Balance Sheets
(In thousands except share data)
March 31, 2026
December 31, 2025
(unaudited)
ASSETS
Land
$ 7,562,694
$ 7,689,921
Buildings and improvements
4,821,492
4,677,318
Tenant improvements
205,656
198,161
Furniture, fixtures, and equipment
132
132
Construction in progress
327,029
451,109
Total real estate held for investment
12,917,003
13,016,641
Accumulated depreciation
(1,219,932)
(1,165,792)
Investments in real estate, net
11,697,071
11,850,849
Cash and cash equivalents
51,714
165,778
Loan receivable, net
123,819
123,704
Rents and other receivables, net
11,962
13,958
Deferred rent receivable, net
205,398
190,376
Deferred leasing costs, net
92,022
87,745
Deferred loan costs, net
6,382
6,886
Acquired lease intangible assets, net
130,045
140,627
Acquired indefinite-lived intangible asset
5,156
5,156
Interest rate swap assets
4,562
2,025
Other assets
20,500
25,609
Assets associated with real estate held for sale, net
48,761
—
Total Assets
$ 12,397,392
$ 12,612,713
LIABILITIES & EQUITY
Liabilities
Notes payable
$ 3,247,451
$ 3,251,909
Interest rate swap liability
9
829
Accounts payable, accrued expenses and other liabilities
125,007
120,849
Dividends and distributions payable
102,418
103,399
Acquired lease intangible liabilities, net
110,914
116,487
Tenant security deposits
95,219
92,444
Tenant prepaid rents
82,186
88,777
Liabilities associated with real estate held for sale
482
—
Total Liabilities
3,763,686
3,774,694
Equity
Rexford Industrial Realty, Inc. stockholders' equity
Preferred stock, $0.01 par value per share, 10,050,000 shares authorized:
5.875% series B cumulative redeemable preferred stock, 3,000,000 shares
outstanding at March 31, 2026 and December 31, 2025 ($75,000 liquidation
preference)
72,443
72,443
5.625% series C cumulative redeemable preferred stock, 3,450,000 shares
outstanding at March 31, 2026 and December 31, 2025 ($86,250 liquidation
preference)
83,233
83,233
Common Stock,$0.01 par value per share, 489,950,000 authorized and
226,286,486 and 231,580,135 shares outstanding at March 31, 2026 and
December 31, 2025, respectively
2,263
2,316
Additional paid in capital
8,745,875
8,945,123
Cumulative distributions in excess of earnings
(651,692)
(642,130)
Accumulated other comprehensive loss
2,887
(422)
Total stockholders' equity
8,255,009
8,460,563
Noncontrolling interests
378,697
377,456
Total Equity
8,633,706
8,838,019
Total Liabilities and Equity
$ 12,397,392
$ 12,612,713
Rexford Industrial Realty, Inc.
Consolidated Statements of Operations
(Unaudited and in thousands, except per share data)
Three Months Ended March 31,
2026
2025
REVENUES
Rental income
$ 242,141
$ 248,821
Management and leasing services
—
142
Interest income
2,937
3,324
TOTAL REVENUES
245,078
252,287
OPERATING EXPENSES
Property expenses
56,763
55,261
General and administrative
14,925
19,868
Depreciation and amortization
72,933
86,740
TOTAL OPERATING EXPENSES
144,621
161,869
OTHER (EXPENSES) INCOME
Other income
1,350
—
Other expenses
(102)
(2,239)
Interest expense
(26,600)
(27,288)
Impairment of real estate
(6,824)
—
Gains on sale of real estate
26,281
13,157
TOTAL OTHER EXPENSES
(5,895)
(16,370)
NET INCOME
94,562
74,048
Less: net income attributable to noncontrolling interests
(3,375)
(2,849)
NET INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY,
INC.
91,187
71,199
Less: preferred stock dividends
(2,314)
(2,314)
Less: earnings attributable to participating securities
(1,008)
(539)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS
$ 87,865
$ 68,346
Net income attributable to common stockholders per share – basic
$ 0.38
$ 0.30
Net income attributable to common stockholders per share – diluted
$ 0.38
$ 0.30
Weighted-average shares of common stock outstanding – basic
228,312
227,396
Weighted-average shares of common stock outstanding – diluted
228,312
227,396
Rexford Industrial Realty, Inc.
Same Property Portfolio Occupancy and NOI and Cash NOI
(Unaudited, dollars in thousands)
Same Property Portfolio Occupancy
March 31,
2026
2025
Change (basis
points)
Quarterly Weighted Average Occupancy:(1)
Los Angeles County
96.9 %
93.2 %
370 bps
Orange County
96.4 %
97.4 %
(100) bps
Riverside / San Bernardino County
95.1 %
97.3 %
(220) bps
San Diego County
97.7 %
97.9 %
(20) bps
Ventura County
94.6 %
91.3 %
330 bps
Same Property Portfolio Weighted Average Occupancy
96.3 %
94.7 %
160 bps
Ending Occupancy:
96.1 %
94.5 %
160 bps
(1)
Calculated by averaging the occupancy rate at the end of each month in 1Q-2026 and December 2025 (for 1Q-2026) and the end of each month in 1Q-2025 and December 2024 (for 1Q-2025).
Same Property Portfolio NOI and Cash NOI
Three Months Ended March 31,
2026
2025
$ Change
% Change
Rental income
$ 211,391
$ 207,919
$ 3,472
1.7 %
Property expenses
47,304
45,350
1,954
4.3 %
Same Property Portfolio NOI
$ 164,087
$ 162,569
$ 1,518
0.9 %
Straight line rental revenue adjustment
(9,971)
(7,454)
(2,517)
33.8 %
Above/(below) market lease revenue adjustments
(4,171)
(4,572)
401
(8.8) %
Same Property Portfolio Cash NOI
$ 149,945
$ 150,543
$ (598)
(0.4) %
Rexford Industrial Realty, Inc.
Reconciliation of Net Income to NOI, Cash NOI, Same Property Portfolio NOI and
Same Property Portfolio Cash NOI
(Unaudited and in thousands)
Three Months Ended March 31,
2026
2025
Net income
$ 94,562
$ 74,048
General and administrative
14,925
19,868
Depreciation and amortization
72,933
86,740
Other expenses
102
2,239
Interest expense
26,600
27,288
Management and leasing services
—
(142)
Other income
(1,350)
—
Interest income
(2,937)
(3,324)
Impairment of real estate
6,824
—
Gains on sale of real estate
(26,281)
(13,157)
Net operating income (NOI)
$ 185,378
$ 193,560
Straight line rental revenue adjustment
(15,136)
(5,517)
Above/(below) market lease revenue adjustments
(4,647)
(9,186)
Cash NOI
$ 165,595
$ 178,857
NOI
$ 185,378
$ 193,560
Non-Same Property Portfolio rental income
(30,750)
(40,902)
Non-Same Property Portfolio property expenses
9,459
9,911
Same Property Portfolio NOI
$ 164,087
$ 162,569
Straight line rental revenue adjustment
(9,971)
(7,454)
Above/(below) market lease revenue adjustments
(4,171)
(4,572)
Same Property Portfolio Cash NOI
$ 149,945
$ 150,543
Rexford Industrial Realty, Inc.
Reconciliation of Net Income to Funds From Operations and Core Funds From Operations
(Unaudited and in thousands, except per share data)
Three Months Ended March 31,
2026
2025
Net income
$ 94,562
$ 74,048
Adjustments:
Depreciation and amortization
72,933
86,740
Impairment of real estate
6,824
—
Gains on sale of real estate
(26,281)
(13,157)
Funds From Operations (FFO)
$ 148,038
$ 147,631
Less: preferred stock dividends
(2,314)
(2,314)
Less: FFO attributable to noncontrolling interests(1)
(5,282)
(5,394)
Less: FFO attributable to participating securities(2)
(1,434)
(750)
Company share of FFO
$ 139,008
$ 139,173
Company Share of FFO per common share – basic
$ 0.61
$ 0.61
Company Share of FFO per common share – diluted
$ 0.61
$ 0.61
FFO
$ 148,038
$ 147,631
Adjustments:
Acquisition expenses(3)
—
79
Non-capitalizable demolition costs(3)
—
365
Severance costs(3)(4)
—
1,483
Other nonrecurring expenses(3)(5)
62
—
Core FFO
$ 148,100
$ 149,558
Less: preferred stock dividends
(2,314)
(2,314)
Less: Core FFO attributable to noncontrolling interest(1)
(5,284)
(5,461)
Less: Core FFO attributable to participating securities(2)
(744)
(760)
Company share of Core FFO
$ 139,758
$ 141,023
Company share of Core FFO per common share – basic
$ 0.61
$ 0.62
Company share of Core FFO per common share – diluted
$ 0.61
$ 0.62
Weighted-average shares of common stock outstanding – basic
228,312
227,396
Weighted-average shares of common stock outstanding – diluted
228,312
227,396
(1)
Noncontrolling interests relate to interests in the Company's operating partnership, represented by common units and preferred units (Series 2 & 3 CPOP units) of partnership interests in the operating partnership that are owned by unit holders other than the Company. On March 6, 2025, we exercised our conversion right to convert all remaining Series 2 CPOP units into OP Units.
(2)
Participating securities include unvested shares of restricted stock, unvested LTIP units and unvested performance units. For the three months ended March 31, 2026, Core FFO attributable to participating securities was adjusted to exclude $691 thousand of otherwise allocable Core FFO related solely to transition‑related restricted stock awards that were outstanding as of March 31, 2026.
(3)
Amounts are included in the line item "Other expenses" in the consolidated statements of operations.
(4)
Includes costs associated with workforce reduction and workforce reorganization.
(5)
Reflects nonrecurring advisory service costs.
Rexford Industrial Realty, Inc.
Reconciliation of Net Income to Adjusted EBITDAre
(Unaudited and in thousands)
Three Months Ended
March 31, 2026
Net income
$ 94,562
Interest expense
26,600
Depreciation and amortization
72,933
Impairment of real estate
6,824
Gains on sale of real estate
(26,281)
EBITDAre
$ 174,638
Stock-based compensation amortization
4,063
Other nonrecurring expenses
62
Pro forma effect of dispositions(1)
(206)
Adjusted EBITDAre
$ 178,557
(1)
Represents the estimated impact on first quarter 2026 EBITDAre of first quarter 2026 dispositions as if they had been sold as of January 1, 2026.
Rexford Industrial (REXR - Free Report) came out with quarterly funds from operations (FFO) of $0.61 per share, beating the Zacks Consensus Estimate of $0.6 per share. This compares to FFO of $0.62 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an FFO surprise of +1.46%. A quarter ago, it was expected that this industrial real estate investment trust would post FFO of $0.58 per share when it actually produced FFO of $0.59, delivering a surprise of +1.72%.
Over the last four quarters, the company has surpassed consensus FFO estimates four times.
Rexford Industrial, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $245.08 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.04%. This compares to year-ago revenues of $252.29 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.
Rexford Industrial shares have lost about 6.4% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Rexford Industrial?While Rexford Industrial has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Rexford Industrial was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.60 on $244.55 million in revenues for the coming quarter and $2.40 on $998.57 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Extra Space Storage (EXR - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on April 28.
This self-storage facility real estate investment trust is expected to post quarterly earnings of $2.01 per share in its upcoming report, which represents a year-over-year change of +0.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Extra Space Storage's revenues are expected to be $850.37 million, up 3.7% from the year-ago quarter.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) and Community Healthcare Trust (NYSE:CHCT – Get Free Report) are both finance companies, but which is the better stock? We will contrast the two businesses based on the strength of their profitability, valuation, risk, dividends, analyst recommendations, institutional ownership and earnings.
Analyst Recommendations This is a breakdown of current ratings and target prices for Rexford Industrial Realty and Community Healthcare Trust, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Rexford Industrial Realty 2 7 4 0 2.15 Community Healthcare Trust 0 3 1 0 2.25 Rexford Industrial Realty presently has a consensus target price of $41.92, suggesting a potential upside of 15.48%. Community Healthcare Trust has a consensus target price of $18.00, suggesting a potential upside of 5.66%. Given Rexford Industrial Realty’s higher probable upside, equities research analysts plainly believe Rexford Industrial Realty is more favorable than Community Healthcare Trust.
Earnings and Valuation This table compares Rexford Industrial Realty and Community Healthcare Trust”s top-line revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Rexford Industrial Realty $1.00 billion 8.13 $212.03 million $0.85 42.71 Community Healthcare Trust $121.19 million 4.02 $5.10 million $0.07 243.37 Rexford Industrial Realty has higher revenue and earnings than Community Healthcare Trust. Rexford Industrial Realty is trading at a lower price-to-earnings ratio than Community Healthcare Trust, indicating that it is currently the more affordable of the two stocks.
Profitability This table compares Rexford Industrial Realty and Community Healthcare Trust’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Rexford Industrial Realty 21.03% 2.37% 1.63% Community Healthcare Trust 4.21% 1.16% 0.52% Risk and Volatility Rexford Industrial Realty has a beta of 1.26, indicating that its share price is 26% more volatile than the S&P 500. Comparatively, Community Healthcare Trust has a beta of 0.74, indicating that its share price is 26% less volatile than the S&P 500.
Insider and Institutional Ownership 99.5% of Rexford Industrial Realty shares are held by institutional investors. Comparatively, 87.8% of Community Healthcare Trust shares are held by institutional investors. 1.2% of Rexford Industrial Realty shares are held by insiders. Comparatively, 5.3% of Community Healthcare Trust shares are held by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company is poised for long-term growth.
Dividends Rexford Industrial Realty pays an annual dividend of $1.74 per share and has a dividend yield of 4.8%. Community Healthcare Trust pays an annual dividend of $1.91 per share and has a dividend yield of 11.2%. Rexford Industrial Realty pays out 204.7% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Community Healthcare Trust pays out 2,728.6% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Rexford Industrial Realty has raised its dividend for 4 consecutive years and Community Healthcare Trust has raised its dividend for 3 consecutive years.
Summary Rexford Industrial Realty beats Community Healthcare Trust on 13 of the 17 factors compared between the two stocks.
About Rexford Industrial Realty (Get Free Report)
Rexford Industrial Realty, Inc. is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.
About Community Healthcare Trust (Get Free Report)
Community Healthcare Trust Incorporated (the Company”, we”, our”) was organized in the State of Maryland on March 28, 2014. The Company is a fully-integrated healthcare real estate company that owns and acquires real estate properties that are leased to hospitals, doctors, healthcare systems or other healthcare service providers. As of March 31, 2024, the Company had investments of approximately $1.1 billion in 197 real estate properties (including a portion of one property accounted for as a sales-type lease with a gross amount totaling approximately $3.0 million and two properties classified as an asset held for sale with an aggregate amount totaling approximately $7.5 million. The properties are located in 35 states, totaling approximately 4.4 million square feet in the aggregate and were approximately 92.3% leased, excluding real estate assets held for sale, at March 31, 2024 with a weighted average remaining lease term of approximately 6.9 years.
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Rexford Industrial Realty, Inc. (NYSE:REXR – Get Free Report) has earned an average recommendation of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $41.9231.
Several analysts have issued reports on REXR shares. Barclays reissued an “underweight” rating on shares of Rexford Industrial Realty in a research note on Tuesday, January 13th. Wall Street Zen raised shares of Rexford Industrial Realty from a “strong sell” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reissued a “hold (c)” rating on shares of Rexford Industrial Realty in a research note on Thursday, January 22nd. Cantor Fitzgerald reduced their target price on shares of Rexford Industrial Realty from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, Citigroup reduced their target price on shares of Rexford Industrial Realty from $46.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th.
Check Out Our Latest Stock Report on REXR
Rexford Industrial Realty Stock Up 0.0% Shares of NYSE REXR opened at $35.48 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 2.51. The company has a market cap of $7.97 billion, a P/E ratio of 38.15, a PEG ratio of 2.58 and a beta of 1.26. Rexford Industrial Realty has a 1 year low of $32.14 and a 1 year high of $44.38. The firm has a 50-day simple moving average of $35.37 and a two-hundred day simple moving average of $38.77.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. The business had revenue of $242.14 million during the quarter, compared to the consensus estimate of $243.79 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. Research analysts anticipate that Rexford Industrial Realty will post 2.39 earnings per share for the current year.
Rexford Industrial Realty Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.9%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 187.10%.
Rexford Industrial Realty News Roundup Here are the key news stories impacting Rexford Industrial Realty this week:
Positive Sentiment: Quarterly EPS and net income beat consensus — Rexford reported net income of $87.9M, or $0.38 per diluted share, topping consensus and showing year‑over‑year improvement in net income. Rexford Industrial Announces First Quarter 2026 Financial Results Positive Sentiment: FFO slightly beat estimates — Q1 funds from operations were $0.61/sh versus the Zacks consensus $0.60, a modest positive for REIT valuation metrics. Rexford Industrial (REXR) Q1 FFO Beat Estimates Positive Sentiment: Dividend increased/declared — Rexford declared a quarterly dividend of $0.435 per share (annualized yield ~4.8%), which supports income‑oriented holders and may attract dividend investors. REXR Stock Page Neutral Sentiment: Relative peer comparison published — A financial survey comparing REXR to Community Healthcare Trust provides a refreshed view of valuation, dividends and institutional ownership but contains no new company‑specific catalysts. Financial Survey: Rexford Industrial Realty (NYSE:REXR) versus Community Healthcare Trust (NYSE:CHCT) Negative Sentiment: Revenue miss and y/y revenue decline — Q1 revenue was $242.14M, slightly below consensus (~$243.8M) and down ~2.9% y/y, raising questions about near‑term demand in its Southern California industrial portfolio. Rexford Industrial Announces First Quarter 2026 Financial Results Negative Sentiment: FY‑2026 EPS guidance is conservative relative to consensus — Management set full‑year EPS guidance at 2.370–2.42, roughly in line with but slightly under consensus (2.40), which may temper upside expectations. Press Release / Slide Deck Insider Activity at Rexford Industrial Realty In related news, Director David P. Stockert bought 5,000 shares of Rexford Industrial Realty stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $37.39 per share, with a total value of $186,950.00. Following the completion of the transaction, the director owned 6,829 shares in the company, valued at $255,336.31. The trade was a 273.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Fitzmaurice bought 2,650 shares of Rexford Industrial Realty stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $99,507.50. Following the completion of the transaction, the chief financial officer owned 14,133 shares of the company’s stock, valued at approximately $530,694.15. This trade represents a 23.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 12,960 shares of company stock valued at $486,804. 1.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Rexford Industrial Realty A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Rexford Industrial Realty by 7.4% during the third quarter. EverSource Wealth Advisors LLC now owns 3,493 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 241 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rexford Industrial Realty by 6.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,185 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 293 shares during the period. Covestor Ltd increased its position in shares of Rexford Industrial Realty by 6.2% during the third quarter. Covestor Ltd now owns 6,161 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 359 shares during the period. Lazard Asset Management LLC increased its position in shares of Rexford Industrial Realty by 1.0% during the second quarter. Lazard Asset Management LLC now owns 35,475 shares of the real estate investment trust’s stock worth $1,261,000 after acquiring an additional 362 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Rexford Industrial Realty by 1.0% during the first quarter. IFM Investors Pty Ltd now owns 38,360 shares of the real estate investment trust’s stock worth $1,256,000 after acquiring an additional 370 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.
About Rexford Industrial Realty (Get Free Report)
Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.
Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.
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Rexford Industrial Realty offers a rare pure play on Southern California infill industrial real estate, benefiting from lasting supply-demand imbalances. REXR trades at a 14% discount to fair value (P/FFO 15.5 vs. 18), reflecting slower near-term earnings growth but consistent long-term fundamentals. Despite rental resets and occupancy pressures, REXR projects 5%–10% re-leasing spreads and maintains a stable BBB+ balance sheet, supporting 4% annual core FFO/share growth.
, /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties throughout infill Southern California, today announced that the Company will present at Nareit's REITweek: 2026 Investor Conference on June 3, 2026 at 2:45 p.m. ET.
A live webcast and replay of the presentation will be available at ir.rexfordindustrial.com.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of March 31, 2026, Rexford Industrial's high-quality, irreplaceable portfolio comprised 414 properties with approximately 50.4 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit rexfordindustrial.com.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact
Mikayla Lynch
Director, Investor Relations and Capital Markets
(424) 276-3454
[email protected]
, /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties throughout infill Southern California, today published its 2025 Environmental, Social and Governance Impact (ESGi) Report.
"Our ESGi Report reflects continued progress integrating sustainability across our strategy and operations — from reducing emissions to strengthening our commitment to our team and communities," said Laura Clark, Chief Executive Officer. "We remain focused on building a resilient and efficient industrial platform that drives durable value creation for our shareholders."
Rexford Industrial's sustainability efforts continue to earn recognition from leading global institutions. The Company was named an S&P Global Sustainability Yearbook Member, a designation for the top 15% of real estate investment trusts. Rexford Industrial also earned GRESB Sector Leader status and holds the Platinum Green Lease Leader designation.
To access our 2025 ESGi Report and associated ESGi Data Book, as well as learn more about our ESG goals, please visit rexfordindustrial.com/ESG.
About Rexford Industrial
Rexford Industrial creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of March 31, 2026, Rexford Industrial's high-quality, irreplaceable portfolio comprised 414 properties with approximately 50.4 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit rexfordindustrial.com.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
Contact
Mikayla Lynch
Director, Investor Relations and Capital Markets
(424) 276-3454
[email protected]
Rexford Industrial Realty is downgraded to hold due to persistent softness in leasing spreads, occupancy, and net absorption in infill markets. REXR's current valuation offers no margin of safety, with shares trading at an 8.74% discount to invested capital, closely matching the justified discount. Management has shifted to a defensive posture, prioritizing occupancy, asset dispositions, and share repurchases over acquisitions amid a negative investment spread.
Rental properties are far less passive than gurus suggest. One bad tenant can quickly ruin the math. Public REITs offer similar benefits with far less effort.
On June 09, 2026, Rexford Industrial Realty Inc REXR shares rose 3.0%, bringing the current price to $34.99. Despite today's gain, the stock has experienced a decline of 8.4% year-to-date and is trading within a 52-week range of $32.14 to $44.38.
GF Value™ verdict: The current price of $34.99 is 18.6% below the GF Value™ estimate of $42.98.GF Score™: 89/100, indicating a strong potential for long-term returns.Notable signal: Insider activity shows that insiders sold $2.0M worth of shares in the last 3 months, with no purchases recorded. Is REXR Overvalued or Undervalued? Rexford Industrial Realty Inc's current price of $34.99 is significantly lower than the estimated GF Value™ of $42.98, indicating that the stock is undervalued by approximately 18.6%. This margin of safety suggests an opportunity for investors, as the stock may have room to appreciate towards its intrinsic value. The GF Valuation label classifies REXR as "Modestly Undervalued," which implies that while there is potential for price recovery, investors should remain cautious of market volatility and economic factors that could impact the stock's performance.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current pricing dynamics, REXR presents an interesting case for examination, particularly in light of its strong GF Score™ and favorable profitability and growth rankings.
How Does REXR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 37.6x 48.3x Forward P/E 29.7x N/A The current P/E (TTM) of 37.6x is notably below its 5-year median P/E of 48.3x, indicating that REXR is trading at a lower valuation compared to its historical performance. Furthermore, the forward P/E of 29.7x reflects a potentially attractive valuation moving forward. This P/E analysis aligns with the GF Value™ verdict of being undervalued, reinforcing the notion that REXR may offer an attractive opportunity in a recovering market.
What Does REXR's GF Score™ Tell Us? Metric Rating GF Score™ 89 Financial Strength 5/10 Profitability 9/10 Growth 9/10 Valuation 8/10 Momentum 5/10 The GF Score™ of 89/100 indicates a strong investment profile, particularly in the areas of profitability and growth, both rated at 9/10. However, the financial strength rating of 5/10 suggests some areas of concern, potentially related to leverage or liquidity. The valuation score of 8/10 further supports the notion that the stock is undervalued, while the momentum score of 5/10 indicates mixed signals regarding recent price movements.
What Are Insiders Doing with REXR Stock? Recent insider activity regarding Rexford Industrial Realty Inc has shown a concerning trend, with insiders selling $2.0 million worth of shares over the past three months, without any reported purchases. This pattern may suggest a lack of confidence among insiders about the stock's short-term performance. While insider selling can sometimes indicate potential issues within the company, it is essential to consider broader market conditions and company fundamentals before drawing conclusions.
What This Means for Investors Based on the analysis of GF Value™, REXR appears to be undervalued at its current price of $34.99, presenting a potential opportunity for investors. However, the recent insider selling and mixed momentum signals warrant caution. Investors should weigh these factors carefully when considering their investment strategies.
For the complete analysis, visit the Rexford Industrial Realty Inc REXR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is REXR's GF Score™?
REXR's GF Score™ is 89/100, indicating a strong potential for long-term returns based on key financial metrics.
Is REXR overvalued or undervalued?
REXR is currently undervalued, with a GF Value™ estimate of $42.98 compared to its current price of $34.99.
What is REXR's P/E ratio?
REXR's P/E (TTM) is 37.6x, which is below its 5-year median P/E of 48.3x, suggesting the stock is trading at a lower valuation historically.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Apple's (NASDAQ:AAPL | AAPL Price Prediction) stock hit a fresh all-time high around $317.40 in late May, then slid 7.82% in a week as investors digested
Apple revealed its AI-powered next chapter at WWDC 2026 — and not only were we there, we were part of it. Engadget executive editor Cherlynn Low joined Brenda Stolyar, senior staff writer at Wirecutter, Yahoo Finance tech editor Daniel Howley, and Judner Aura (@uravgconsumer) for a panel discussion on Apple's big plans for 2026 and beyond.
Apple (AAPL 1.52%) unveiled its much-anticipated Siri update at its recent Worldwide Developers Conference, and it's a big deal for the company.
The new Siri AI, as Apple is calling it, can remember your past conversations, search through users' photos, messages, and email, and understand what you're looking at on your screen. It also offers a more conversational interface (like ChatGPT).
Investors had a mixed reaction to the news: Apple shares climbed on the day of the launch, then dropped again the next day.
But despite the market's uncertainty, there are two important ways Apple is setting itself up to make billions of dollars from Siri AI. And this upgrade may be important enough to justify investors picking up some Apple stock right now.
Image source: Getty Images.
A new iPhone upgrade supercycle is likely on the way The first way Apple will likely make billions of dollars from Siri AI is by only making the new features available for more recent models -- the ones that already support its previous Apple Intelligence tools. Those start with the iPhone 15 Pro, iPhone 15 Pro Max, as well as all iPhone 16s and 17s, the iPhone Air, and upcoming models.
Because iPhone models from before 2023 won't be compatible with the new Siri AI, many people may take this as their cue to upgrade. This is a long-standing play that Apple runs from its playbook, and it typically works well.
Some analysts expect Apple's improved artificial intelligence offerings to create a supercycle that eventually tips the scales for a large fraction of the current 1.5 billion iPhone users worldwide to buy the latest models. Apple generated more than $209 billion in iPhone sales in fiscal 2025, so fractionally more users than average upgrading their devices over the next several years could bring in tens of billions of dollars in additional sales.
Siri AI could cause services revenue to surge Apple is giving away most of its AI tools to its users for free, but it will set daily usage limits on some of their most advanced capabilities, such as image generation. This is typical in the AI services space, and it's creating a new revenue opportunity for Apple.
If users want to push their daily usage higher, they'll need to have an iCloud+ subscription. The company has said "most subscriptions" will include expanded Siri AI usage, which likely means users who want it will have to spring for something beyond the lowest iCloud+ tier, which costs just $1 per month. This could be the first step toward Apple transitioning iCloud from primarily a data-storage service to more of an AI service add-on.
And it could eventually be a very lucrative move. Wedbush analyst Dan Ives believes AI services could eventually add $15 billion to $20 billion annually to Apple's services revenue. That's an especially notable prediction considering that Apple's services revenue was $31 billion in its most recent quarter.
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Why owning Apple could still be a smart move I've criticized Apple in the past for fumbling its initial forays into AI. But I've also come to believe that, overall, the company is making strategic moves in artificial intelligence that could benefit it for years to come.
Apple typically takes a slow-and-steady approach to new services and technologies, and it's sticking to that tried-and-true strategy here. If an iPhone upgrade supercycle kicks in over the next few years because users want to get their hands on Siri AI, then sales of Apple's cash cow product will surge.
What's more, I think Apple is still just beginning to determine how best to benefit from its AI services offerings. I wouldn't be surprised to see iCloud+ evolve in the next couple of years to include even more AI services and different tiers.
I believe Apple occupies a unique position in the tech space right now because of its hardware dominance. While many of Apple's peers are racing to create the best AI model and spending hundreds of billions of dollars on data centers, Apple continues to benefit from selling devices with high profit margins.
All of the above is enough to convince me to continue holding onto my Apple shares. If you don't own Apple stock right now, I think opening a position could be a smart move, though I wouldn't expect the types of phenomenal gains that some AI-first companies are experiencing. Rather, buy Apple if you're looking for a more steady approach to the current AI landscape.
As OpenAI steers away from the consumer focus that made ChatGPT a household name, Google and Apple are rolling out a slew of new consumer AI offerings, trying to show how the technology can be practical for everyday users.
The opposing approaches were laid bare this week, as Apple used its annual developers conference to introduce Siri AI as a new stand-alone app, and OpenAI announced that it's confidentially filed to go public, a move made possible by its recent traction in the enterprise market, largely in AI-assisted coding.
The diverging tracks come at a pivotal moment in artificial intelligence, as OpenAI and Anthropic focus on building big — and eventually profitable — businesses by selling into enterprises that are eager to spend, rather than trying to lure paying consumers who are accustomed to free online services. Apple and Google, by contrast, have massive piles of cash and can afford to subsidize consumer use of AI if it means ramping up adoption and ensuring that coveted users stay in their ecosystem.
Gartner analyst Kjell Carlsson said that for Apple, it's a matter of, "I can give this away for free, because I'll make it up on the iPhones or iCloud subscription they'll be buying."
Apple says it has more than 2.5 billion active devices worldwide. Google currently has seven products that each serve more than 2 billion monthly users.
"Companies are realizing users get value from AI through these products, experiences, and the solutions that we build with them, not necessarily through the models or platforms," Carlsson said.
watch now
While Apple is finally showing some progress in consumer AI, its Worldwide Developers Conference was widely viewed as underwhelming given how late the iPhone maker is to the game and how much anticipation there's been for an upgraded Siri. The stock dropped more than 5% over two days, as analysts questioned the lack of concrete timing and delays in certain parts of the world.
In addition to the new Siri app, Apple also showcased how AI is now being integrated in various products, such as the iPhone camera, email, and the Shortcuts automation and productivity app. The company also spent a good chunk of its keynote presentation on Monday showing new child safety tools, which are rapidly gaining importance as AI becomes ubiquitous.
Apple's annual event came less than a month after Google I/O, the search company's high-profile developers conference. There, Google showed off a number of consumer AI products such as Gemini Spark, which is a general-purpose AI agent, and information agents that the company says operate in the background in search and "will send you an intelligent, synthesized update, with the ability to take action."
Google also unveiled smart glasses, an effort to crack a corner of the wearables market where rival Meta has found success, and a video editing tool that lets users "change what's happening" in a clip they shoot.
Google and Apple are longtime rivals in consumer technology, but they're also partnering in AI. Gemini is powering Apple Intelligence, the technology behind the new Siri. And Apple executives said at WWDC that Google and chipmaker Nvidia are helping the company with its most advanced model, called Apple Foundation Model Cloud Pro.
Apple didn't provide a comment for this story. A Google spokesperson said that the consumer slant at I/O had to do with the nature of the event and that the company had hundreds of enterprise-focused announcements in April at its cloud conference.
'That's where we make profit'Almost all of OpenAI's announcements this year have been enterprise-driven, as the creator of ChatGPT and pioneer in generative AI now finds itself chasing Anthropic.
Anthropic, which was founded by early OpenAI researchers, was valued at $965 billion in its latest funding round in May, topping OpenAI's $852 billion valuation from March. Anthropic also beat OpenAI to the confidential initial public offering filing phase, disclosing its move a week before OpenAI did the same.
Last month, OpenAI announced the creation of OpenAI Deployment Co., or DeployCo, a joint venture majority owned and controlled by OpenAI alongside 19 global investment firms, consultancies and systems integrators. Its stated goal is to deploy "forward engineers" directly into corporations to bridge the gap between model capabilities and complex corporate workflows. OpenAI also agreed to acquire AI consulting and engineering firm Tomoro, which included 150 "deployment specialists."
Meanwhile, OpenAI has abandoned some consumer products as it tries to rightsize its financials. In March, the company shuttered its video generation tool Sora, which hit 1 million downloads less than five days after its launch in late September. The same month, OpenAI announced a pivot away from the Instant Checkout shopping feature it launched last year.
Denise Dresser, OpenAI's chief revenue officer, said last month that the company is at a "tipping point" in enterprise AI adoption, after CFO Sarah Friar said in March that enterprise was up to 40% of total revenue and would be at about half by the end of the year.
"If you look at the total value of software, the vast majority of it is business software," said Rob Collie, founder of consulting firm P3 Adaptive and a former business intelligence lead at Microsoft. "That's where we make profit. That's where productivity is worth paying for."
watch now
OpenAI used the popularity of ChatGPT to build its brand. But the real money is currently being spent in the AI coding market, where developers and nontechnical people are using the company's Codex and Anthropic's Claude Code to write software and build apps based on text prompts.
"Enterprise buying cycles are complicated and coding is the easiest funnel for companies to get into since engineering teams are blowing their budgets," said Ram Bala, associate professor of AI and analytics at Santa Clara University.
OpenAI didn't provide a comment for this story.
One particular risk that Apple and Google face in targeting consumers is that AI skepticism is running hot, due to fears that it's rapidly replacing jobs and leading to troubling behavior among children and teens.
A Pew Research Center study published in March found that about half of Americans felt that AI in their daily lives made them "more concerned than excited." Alphabet CEO Sundar Pichai said in a recent episode of the "Hard Fork" podcast that people are "rightfully" anxious about what sort of future the technology will create, calling the scale of change unprecedented.
Collie of P3 Adaptive said a "backlash" is happening, but that companies "perceived as friendly" could benefit from changing the narrative.
With the entire tech industry almost singularly focused on AI and with Wall Street rewarding what it views as the AI winners and punishing the laggards, companies are investing as if the technology is inevitable and it's just a matter of who gets there first.
"They've all learned the hard way the cost of missing a segment," Collie said.
Gil Luria, a tech analyst at D.A. Davidson, said that even with OpenAI's race to capture the enterprise, the company still has a big lead over Google and others in the consumer market because of the viral success of ChatGPT. He said Apple's rollout of a Siri app "could very well attract a lot of consumers away from both ChatGPT and Gemini."
And analysts at JPMorgan Chase wrote in a note on Tuesday that Apple's addition of expressive voices in Siri "could set up for a device upgrade cycle if these features gain strong consumer traction."
Apple still has a lot to prove, and that task is soon to fall in the hands of incoming CEO John Ternus, the company's longtime hardware boss who's succeeding Tim Cook at the helm in September.
Matt Rogers, co-founder of Nest and a former iPhone engineer under Steve Jobs, said Ternus has a high hill to climb.
"Apple played it safe," said Rogers, who's now CEO of waste prevention company Mill, regarding the WWDC announcements. "As John Ternus takes over, he needs to steer the company towards making AI useful, trusted, and native across the devices people already live with."
Apple unveiled the new Siri at its annual developer conference this week. The conversational chatbot, powered by a partnership with the Gemini LLM, can do many things beyond the standard LLM, since it connects across a user's devices and accounts.
The real story for Apple (AAPL) is its push in AI, says Brian Mulberry. The Mag 7 giant's Siri upgrade is something he sees offering high margin opportunity for future profits.
Major tech stocks look a little sluggish early in pre-market trading on Thursday, as the headline noise continues.
Microsoft looks like it’s going to be a little bit sluggish here early during the trading session on Thursday as the downtrend looks to continue. Ultimately, I think this is a market that will remain somewhat lackluster as the AI trade seems to be fizzling out. If we do continue to fall from here, I’ll be watching right around the $380 level for a potential support level. If we turn around and break above the $400 level, that would be extraordinarily bullish, so do keep that in mind, but as things stand right now, this looks like it’s going to still struggle a bit.
AMZN Technical Analysis Amazon looks like it may perk up a bit. Not a huge surprise, the market is getting fairly close to the 200-day EMA, and of course, Amazon is a company that a lot of larger funds are involved in. It’s obviously a stalwart of the main Wall Street type of trade, and I think as long as the consumer is doing fairly well in the United States, Amazon will continue to be a winner longer term. The question is, can we get a turnaround from here? So, I’m waiting to see if we can take out the highs of the previous session; that would be a good sign.
AAPL Technical Analysis Apple looks like it’s finding support in this region. The $290 level has been important. The 50-day EMA coming into the picture also helps, so I think you have to look at this through the prism of a market that, quite frankly, should continue to be bullish longer term as it is so widely held.
If we were to break down below the lows of the last couple of days, it could open up a drop to the $280 level, but I’m not really looking for that quite yet. It’s just a possibility you have to keep in the back of your mind.
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Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
Apple (AAPL - Free Report) ended the recent trading session at $295.38, demonstrating a +1.3% change from the preceding day's closing price. This change lagged the S&P 500's 1.75% gain on the day. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 2.54%.
The stock of maker of iPhones, iPads and other products has fallen by 2.44% in the past month, leading the Computer and Technology sector's loss of 3.11% and undershooting the S&P 500's loss of 1.63%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company's upcoming EPS is projected at $1.86, signifying a 18.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $108.71 billion, up 15.6% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.75 per share and revenue of $477.95 billion, indicating changes of +17.29% and +14.85%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Apple. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. Apple is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Apple is currently exchanging hands at a Forward P/E ratio of 33.34. This denotes a premium relative to the industry average Forward P/E of 21.14.
One should further note that AAPL currently holds a PEG ratio of 2.54. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AAPL's industry had an average PEG ratio of 2.3 as of yesterday's close.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 25, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Key Takeaways Apple's Services revenues rose 16.3% year over year to a record $30.98 billion in fiscal Q2 2026. Apple is adding AI-powered features across Maps, Find My, Apple Cash, iCloud and Fitness . AAPL faces streaming and gaming competition from Netflix and Disney as they expand digital platforms. Apple (AAPL - Free Report) is benefiting from the rapid expansion and diversification of the Services business, which has become a key growth driver of the company’s performance. In the second quarter of fiscal 2026, Services contributed 27.9% of total net sales, with revenues rising 16.3% year over year to $30.98 billion, which was a record in Apple’s history.
This robust performance was broad-based, with double-digit growth in both developed and emerging markets and new all-time revenue records across most Services categories. The Services segment now includes offerings such as Apple TV, Apple Music, iCloud, the App Store, Apple Pay and new enterprise solutions, all of which are supported by Apple’s vast installed base of over 2.5 billion active devices.
The company continues to integrate new features and expand the breadth of its services. Apple recently unveiled a range of AI-powered enhancements across its services, set to arrive with its 2027 software releases this fall. Key updates include richer Flyover views and Local Lists in Apple Maps, more flexible item-sharing in Find My and Apple Cash bill-splitting powered by Visual Intelligence.
Apple is also expanding video podcast support on Mac and tvOS, redesigning Shared Albums in iCloud and introducing a new Apple Fitness+ program. The updates aim to make Apple’s ecosystem more intelligent, personalized and collaborative while improving everyday experiences across navigation, payments, media, cloud storage and fitness services.
Apple’s Services business is on a strong upward trajectory, driven by ecosystem expansion, innovation and a focus on both consumer and enterprise needs. For the June quarter, management expects Services to grow at a similar year-over-year rate to the March quarter after removing the favorable impact from foreign exchange.
Apple Faces Stiff CompetitionApple is suffering from stiff competition from the likes of Netflix (NFLX - Free Report) and Disney (DIS - Free Report) . Both Netflix and Disney are expanding their footprint in domains like streaming and gaming.
Netflix is expanding its service offerings by investing in podcasts, live sports events and gaming, including a new kids’ gaming app called Netflix Playground. The company is also leveraging technology like AI to enhance content creation and user experience.
Disney is benefiting from its streaming segment, which has achieved a remarkable transformation, delivering sustainable profitability. The combined Disney+ and Hulu platform now generates consistent operating income, driven by disciplined pricing strategies and robust subscriber engagement. Entertainment SVOD revenues grew 13% year over year to $5.49 billion in the second quarter of fiscal 2026, while Entertainment SVOD operating income surged 88% to $582 million. The integration of Hulu content into Disney+ creates a comprehensive entertainment ecosystem that enhances customer retention and reduces churn.
AAPL’s Share Price Performance, Valuation & EstimatesApple shares have gained 8.8% year to date, underperforming the broader Zacks Computer and Technology sector’s return of 13.2%.
AAPL Stock Performance
Image Source: Zacks Investment Research
AAPL stock is trading at a premium, with forward 12-month price/earnings of 31.78X compared with the Computer and Technology sector’s 24.01X. AAPL has a Value Score of F.
AAPL Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for fiscal 2026 earnings is pegged at $8.75 per share, which has increased by a couple of pennies over the past 30 days. This suggests 17.29% year-over-year growth.
Apple currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Meta Platforms has begun dismantling its $2 billion acquisition of Manus, according to a Bloomberg report, as the tech giant moves to comply with Beijing's unprecedented order to unwind the deal.
Meta has completed an operational split, ordering its employees to stop using Manus tools for internal projects while blocking the Singapore-based company's staff from accessing Facebook-parent's internal data systems from this month, Bloomberg reported Thursday, citing people familiar with the matter.
The separation comes as Manus and Meta scramble to heed Beijing's demand to dismantle a deal that has become a test case for how far China will go to safeguard its strategic technology and talent.
Chinese regulators in April ordered the deal to be reversed, an unprecedented move under the country's foreign investment security review mechanism that set in motion the intricate process of unraveling a completed deal, according to Zhonglun law firm.
Beijing has since tightened tech export controls to keep a firmer grip on cross-border transactions, particularly those involving assets in strategic sectors, as the U.S.-China tech race intensifies into a contest over talent, hardware and data.
For U.S. tech firms eyeing Chinese assets, "Chinese-origin AI now carries a kind of reversibility risk that no clever deal structure can price out," said Matthias Hendrichs, a Singapore-based advisor to global AI firms.
For Manus, the problem at the heart of Beijing's objection may not be resolvable, Hendrichs added. "Once another company's engineers have been inside your stack, you can delete the repository, but you can't make them unsee what they've seen."
Once celebrated as a breakthrough for Chinese AI startups taking on American rivals, Manus has become a cautionary tale for entrepreneurs looking to shed their Chinese image by relocating to countries such as Singapore.
"The unwind may be messy," said Han Shen Lin, China managing director at The Asia Group. Beijing has sent a message to its tech sector that the so-called "Singapore washing" has limits, he said, and a lesson to Washington that shining a light on ownership structures may be just as effective as any prohibition.
Manus, with its roots in China, relocated its headquarters and core teams to Singapore last year, before Meta announced to acquire the agentic AI startup for $2 billion in December, triggering a months-long probe involving tech export controls.
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Earlier this month, Beijing issued sweeping new rules tightening control of overseas deals involving Chinese investors, technology, data and on national security grounds.
The rules come as Beijing and Washington race to tighten their grip on AI. Chinese regulators have reportedly instructed firms, including Moonshot AI, StepFun and ByteDance to reject U.S. investment without explicit government approval, while Washington recently broadened its AI chip export controls to China-headquartered firms globally.
The rules extend Beijing's reach to deals in markets beyond mainland China, including Taiwan, and give it the power to punish foreign firms whose home countries restrict Chinese investment.
The new outbound investment directives target deals such Manus — a high-profile move that suggested a leading Chinese AI firm was turning away from the domestic market, an example Beijing didn't want others to follow, said Tilly Zhang, an industrial policy analyst at Gavekal Dragonomics.
Beijing's new framework essentially gives the state "a retroactive and forward-looking chokehold" on outbound capital, Han said. "If Chinese money touched a deal ... Beijing can now assert jurisdiction over the exit, the restructuring, or the reinvestment."
The framework, which takes effect July 1, provides for the first time a comprehensive and formalized legal basis for China to force the unwinding of completed overseas transactions. It specifically bans cross-border talent transfers in sensitive sectors without approval.
Meta Platforms (META, Financials) has reportedly started unwinding its $2 billion acquisition of Manus after Chinese regulators ordered the deal to be reversed.
According to Bloomberg, Meta has separated operations from Manus, stopped employees from using Manus tools for internal work and blocked Manus staff from accessing Meta's internal data systems.
The move shows how difficult cross-border AI deals are becoming as the U.S. and China compete over technology, data and talent. Beijing appears determined to keep closer control over strategic AI assets, even when companies relocate outside mainland China.
For Meta, the unwind creates another complication in its AI strategy. The company has been spending heavily to strengthen its AI tools, infrastructure and talent base, but this deal now looks caught in a bigger geopolitical fight.
For investors, the key issue is not just the $2 billion price tag. It is whether tighter China rules make future AI acquisitions harder for large U.S. technology companies.
