First Industrial Realty Trust, Inc. is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating ...
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$1.89 per share
Est. EPS $0.47 · Revenue $196.38M · 2 analysts
$1.89 per share
Est. EPS $0.44 · Revenue $201.16M · 2 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $727.1M | +8.6% | +0.1% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $247.4M | -13.9% | -46.1% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +22.6% | -68.9% | +257.1% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +42.3% | +4.0% | +28.9% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +34.0% | -20.7% | -46.2% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $114.9M | -14.8% | -40.4% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +15.8% | -21.5% | -40.5% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 96.3% | +15.3% | -1.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.14x | +162.5% | 0.0% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $5.7B | +8.1% | +0.1% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 1.87 vs 1.68 | +11.6% | 0.58 vs 0.47 | +23.5% |
| Revenue Surprise | $727.1M vs $724.3M | +0.4% | $194.9M vs $196.4M | -0.7% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Jul 27, 2026 | MUSIL SCOTT A | officer: Chief Financial Officer | LP Units | D | 2,603 | — |
| Jul 27, 2026 | MUSIL SCOTT A | officer: Chief Financial Officer | Common Stock | D | 2,175 | — |
| Jun 1, 2026 | Schmitz Frank E. | director | LP Units | A | 2,293 | — |
| Jun 1, 2026 | Schmitz Frank E. | director: | — | — | 0 | — |
| Apr 30, 2026 | BAZEMORE TERESA BRYCE | director | LP Units | A | 2,419 | — |
Operator: Good day, and welcome to the First Industrial Realty Trust Second Quarter 26 Results Conference Call. All participants will be in listen-only mode. A conference specialist will be an opportunity to ask questions. To ask a question, you may press star then 1 on a touch-tone phone. To withdraw your question, please press star Please note this event is being recorded. Would now like to turn the conference over to Arthur J. Harmon, Senior Vice President Investor Relations and Marketing. Please go ahead. Arthur J. Harmon: Thank you, Dave. Hello, everyone, and welcome to our call. Before we discuss our second quarter 2020 sales results, and our updated guidance for 2026, please note that our call may include forward looking statements as defined by federal securities laws. These statements are based on management's expectations, plans and estimates of our prospects. Todd's statements may be time sensitive and accurate only as of today's date 07/23/2026. We assume no obligation to update our statements or the other information we provide. Actual results may differ materially from our forward looking statements, and factors which could cause this are described in our 10 ks and other SEC filings. You can find a reconciliation of non GAAP financial measures discussed in today's call in our supplemental report and our earnings release. Supplemental report, earnings release, and our SEC filings are available at firstindustrial.com under the Investors tab. Our call today will begin with remarks by Peter E. Baccile, our President, Chief Executive Officer, and Scott A. Musil, Chief Financial Officer. After which, we will open it up for your questions. Also with us today are Jojo Yap, Chief Investment Officer; Peter Schultz, executive vice president Christopher Schneider, executive vice president of operations, and Bob Walter, executive vice president of capital markets and asset management. Now let me hand the call over to Peter. Peter E. Baccile: Thank you, Arthur, and thank you all for joining us today. Our team delivered another excellent quarter building upon the momentum that took shape in Q1. Our confidence in leasing demand supporting new business growth has strengthened compared to earlier in the year and most certainly last year. We are seeing additional touring activity and enhanced decision making overall, including for larger format spaces. Our team delivered some significant leasing wins in the quarter, including a full-building lease for our 708 thousand square foot building in Central Pennsylvania as well as for a few of our developments, which I will detail shortly. On the strength of that lease we increased our FFO guidance midpoint by $0.02 per share. Scott will walk you through our guidance during his remarks. Turning to the overall market, industry fundamentals are trending positively with respect to net absorption while the pace of new deliveries continues to moderate as expected. According to CBRE, the national vacancy improved …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Peter E. Baccile | President, Chief Executive Officer & Director | USD 3,076,167 | Male | 1962 | Active |
Johannson L. Yap | Chief Investment Officer & Executive VP of West Region | USD 1,947,767 | Male | 1963 | Active |
Peter O. Schultz Jr. | Executive Vice President of East Region | USD 1,627,838 | Male | 1964 | Active |
Scott A. Musil | Chief Financial Officer, Senior Vice President, Treasurer & Assistant Secretary | USD 1,185,757 | Male | 1968 | Active |
Jennifer E. Matthews Rice | General Counsel & Secretary | USD 976,643 | Female | 1971 | Active |
Matthew S. Dominski | Chairman of Board & Director | USD 149,706 | Male | 1955 | Active |
Arthur J. Harmon | Senior Vice President of Investor Relations & Marketing | — | Male | — | Active |
Christopher Schneider | Executive Vice President of Operations & Chief Information Officer | — | Male | — | Active |
Ryan McClean | Executive Director of Los Angeles & Inland Empire | — | Male | — | Active |
Sara E. Niemiec | Chief Accounting Officer | — | Female | — | Active |
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First Industrial Realty Trust NYSE: FR reported higher second-quarter funds from operations and raised the midpoint of its 2026 outlook, citing stronger leasing demand, improved tenant decision-making and several notable leasing wins across its industrial portfolio.
First Industrial Realty Trust, Inc. (FR) Q2 2026 Earnings Call Transcript
