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Brixmor Operating Partnership LP earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 26, 2026
Q3 2026 Revenue up 6% year over year to $360M · 24¢ of every $1 of revenue kept as net profit · operating margin 24.5%
Brixmor Operating Partnership LP made $360M in Q3 2026 (+6% Y/Y). Operating margin 24.5%, net earnings $87.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 26, 2026.
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What changed this quarter
Revenue was $359.6M in Q3 2026, up 6% year over year.
Operating profit was $88.1M, a 24.5% margin (down 3.1 points year over year). Operating profit fell $6.1M even though revenue rose $18.8M versus Q3 2025, so costs grew faster than sales. Total costs grew 10% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+11%). Net earnings were $87.8M, down 7% year over year. The effective tax rate was 0.0%.
Operating cash flow was $171.1M (up 2% year over year), 194% of net earnings. Non-cash charges added back $106.4M of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items used $27.3M. Capital expenditures of $66.9M left free cash flow of $104.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 26, 2026 | $360M | +6% | 24.5% | $87.8M | $171M |
| Q2 2026 | 10-Q | Jul 27, 2026 | $354M | +4% | 20.8% | $73.7M | $204M |
| Q1 2026 | 10-Q | Apr 27, 2026 | $355M | +5% | 36.0% | $128M | $141M |
| Q4 2025 | 10-K | Feb 9, 2026 | $354M | +8% | 38.8% | $137M | $172M |
| Q3 2025 | 10-Q | Oct 27, 2025 | $341M | +6% | 27.6% | $94.2M | $168M |
| Q2 2025 | 10-Q | Jul 28, 2025 | $339M | +8% | 25.1% | $85.1M | $181M |
| Q1 2025 | 10-Q | Apr 28, 2025 | $338M | +5% | 20.7% | $69.7M | $130M |
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About Brixmor Operating Partnership LP
Brixmor Property Group Inc. and subsidiaries (collectively, "BPG") is an internally-managed corporation that has elected to be taxed as a real estate investment trust ("REIT"). Brixmor Operating Partnership LP and subsidiaries (collectively, the "Operating Partnership") is the entity through which BPG conducts substantially all of its operations and owns substantially all of its assets. BPG owns 100% of the limited liability company interests of BPG Subsidiary LLC ("BPG Sub"), which, in turn, is the sole member of Brixmor OP GP LLC (the "General Partner"), the sole general partner of the Operating Partnership. Unless stated otherwise or the context otherwise requires, "we," "our," and "us" mean BPG and the Operating Partnership, collectively.
In its own words, from its 10-K, filed Feb 9, 2026.
Brixmor Operating Partnership LP against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +11%. Operating margin: 24.5% against the peers' median 20.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Brixmor Operating Partnership LP | Q3 2026 | $360M | +6% | 24.5% |
| WELL Welltower | Q3 2026 | $3.7B | +38% | 9.1% |
| AMT American Tower | Q3 2026 | $2.8B | +2% | 45.6% |
| EQIX Equinix | Q3 2026 | $2.6B | +11% | 23.3% |
| PLD Prologis | Q1 2026 | $2.3B | +7% | 52.7% |
| IRM Iron Mountain | Q3 2026 | $2.0B | +14% | 20.6% |
| DLR Digital Realty Trust | Q3 2026 | $1.9B | +21% | 15.9% |
| WY Weyerhaeuser | Q3 2026 | $1.9B | +8% | 5.4% |
| VTR Ventas | Q3 2026 | $1.8B | +23% | 2.9% |
Source: Brixmor Operating Partnership LP 10-Q on SEC EDGAR · CIK 1630031 · Real Estate Investment Trusts