O · Q2 2026

Archived report (Q2 2026). Latest deep dive →

US GAAP, Q2 2026 · quarter ended 06/30/2026 · released Aug 5

The quarter in brief

Revenue grew 9.7% y⁠/⁠y to $1.55B, pre-tax margin 25.6% vs 15.8%, net income $344M (+74.7% y⁠/⁠y).

Net income available to common stockholders

$344M

up 74.7% y/y

Total revenue

$1,548M

up 9.7% y/y

All figures in $M.

Sankey diagram of O earnings report for Q2 2026: revenue, costs and profit
Line item	Amount and change
Total revenue	$1,548 · +9.7%
Depreciation and amortization	$645 · −0.5%
Interest	$312 · +10.0%
Property (including reimbursements)	$112 · +4.7%
General and administrative	$57.6 · +16.8%
Provisions for impairment of real estate	$54.2 · −61.9%
Credit losses, merger costs and FX/derivative loss (calculated)	$18.1 · +211%
Gain on sales of real estate	$38.3 · −0.8%
Other income and equity in earnings (calculated)	$9.5 · −10.9%
Income before income taxes	$396 · +77.7% · 25.6% margin
Income taxes	$25.8 · +7.2% · 6.5% effective rate
Net income attributable to noncontrolling interests	$26.6 · +1170%
Net income available to common stockholders	$344 · +74.7% · $0.37/sh · 22.2% margin

Verdict: revenue grew 9.7% y/y to $1.55B, pre-tax margin 25.6% vs 15.8%, net income $344M (+74.7% y/y).

Net income per share $0.37 vs $0.22 a year earlier; AFFO per share up 3.8% to $1.09 and FFO per share $1.07 (non-GAAP, company definitions); invested $2.6 billion at an initial weighted average cash yield of 7.3%; 2026 AFFO per share guidance raised to $4.44 - $4.45; monthly dividends paid $0.8115 per share in the quarter.

Source and notation

Source: Realty Income earnings release and its exhibits, 8-K EX-99 of 08/05/2026 (SEC EDGAR). REIT layout: total revenues as reported; property expenses, depreciation, interest and other items lead to net income (a REIT pays little or no income tax). FFO is a non-GAAP measure: it appears only in the text, as defined by the company, never in the chart. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.

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O — Realty Income is a real estate investment trust (REIT) that owns more than 15,500 properties leased to retail, industrial and other clients under long-term net leases in the U.S., the U.K. and other European countries; it pays dividends monthly.

Headquarters: San Diego, California.

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O · Q2 2026

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