Filing Flows › Healthpeak Properties (DOC) › Q1 2026
Healthpeak Properties (DOC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Healthpeak Properties (DOC) reported revenue of $753M for the first quarter 2026 (Q1 2026), +7% from a year earlier and +5% from the quarter before. Operating margin was 0.7%, net earnings $194M (25.7% of revenue).
Healthpeak Properties, Q1 2026: revenue $753M (+7% year over year), operating margin 0.7%, net earnings $194M, operating cash flow $261M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $753M | +5% | +7% |
| Operating profit | $5.6M | -90% | -91% |
| Net earnings | $194M | +70% | +352% |
| Operating cash flow | $261M | -11% | -7% |
| Free cash flow | $119M | +53% | +5% |
What changed
Revenue was $753.0M in Q1 2026, up 7% year over year and up 5% from the previous quarter.
Operating profit was $5.6M, a 0.7% margin (down 7.9 points year over year). Operating profit fell $54.8M even though revenue rose $50.1M versus Q1 2025, so costs grew faster than sales. Total costs grew 16% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+111%). Net earnings were $193.6M, up 352% year over year. The effective tax rate was 0.1%. Non-operating items added $194.3M, 97% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $260.9M (down 7% year over year), 131% of net income including minority interests. Non-cash charges added back $289.7M of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items used $233.0M. Capital expenditures of $142.1M left free cash flow of $118.7M.
Questions
What was Healthpeak Properties' revenue in the first quarter 2026?
Healthpeak Properties (DOC) reported revenue of $753M for the first quarter 2026 (Q1 2026), +7% from a year earlier and +5% from the quarter before.
Was Healthpeak Properties profitable in the first quarter 2026?
Operating profit was $5.6M (0.7% of revenue) and net earnings $194M.