Filing Flows › Saul Centers (BFS) › Q1 2026
Saul Centers (BFS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Saul Centers (BFS) reported revenue of $78.3M for the first quarter 2026 (Q1 2026), +9% from a year earlier and +4% from the quarter before. Operating margin was 66.0%, net earnings $9.1M (11.7% of revenue).
Saul Centers, Q1 2026: revenue $78.3M (+9% year over year), operating margin 66.0%, net earnings $9.1M, operating cash flow $29.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $78.3M | +4% | +9% |
| Operating profit | $51.6M | +5% | +8% |
| Net earnings | $9.1M | +40% | -7% |
| Operating cash flow | $29.3M | +32% | -4% |
| Free cash flow | $25.6M | +16% | +74% |
What changed
Revenue was $78.3M in Q1 2026, up 9% year over year and up 4% from the previous quarter.
Operating profit was $51.6M, a 66.0% margin (down 0.5 points year over year). Of the extra revenue versus Q1 2025, 61% reached operating profit, below the 66% margin then. Total costs grew 10% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $9.1M, down 7% year over year. The effective tax rate was 0.0%.
Operating cash flow was $29.3M (down 4% year over year), 243% of net income including minority interests. Non-cash charges added back $15.9M of depreciation and amortization and $549K of share-based compensation. Capital expenditures of $3.7M left free cash flow of $25.6M.
Questions
What was Saul Centers' revenue in the first quarter 2026?
Saul Centers (BFS) reported revenue of $78.3M for the first quarter 2026 (Q1 2026), +9% from a year earlier and +4% from the quarter before.
Was Saul Centers profitable in the first quarter 2026?
Operating profit was $51.6M (66.0% of revenue) and net earnings $9.1M.
Source: Saul Centers 10-Q on SEC EDGAR.