Filing Flows › Hines Global Income Trust (HGIT) › Q1 2026
Hines Global Income Trust (HGIT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Hines Global Income Trust (HGIT) reported revenue of $133M for the first quarter 2026 (Q1 2026), +42% from a year earlier and +7% from the quarter before. Operating margin was 5.6%, net earnings $39.8M (29.9% of revenue).
Hines Global Income Trust, Q1 2026: revenue $133M (+42% year over year), operating margin 5.6%, net earnings $39.8M, operating cash flow −$24.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $133M | +7% | +42% |
| Gross profit | $81.6M | +7% | +43% |
| Operating profit | $7.4M | — | -41% |
| Net earnings | $39.8M | — | -65% |
| Operating cash flow | −$24.9M | -480% | -374% |
What changed
Revenue was $132.8M in Q1 2026, up 42% year over year and up 7% from the previous quarter. Residential/Living Investments was the largest line at 30% of revenue. Retail Investments added $15.9M year over year (up 169%), 40% of the total change. Other Investment declined 13%.
Gross margin was 61.4%, up 0.5 points from Q1 2025. Operating profit was $7.4M, a 5.6% margin (down 7.8 points year over year). Operating profit fell $5.1M even though revenue rose $39.2M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 67% against revenue growth of 42%. The fastest-growing cost line was Other operating costs (+70%). Net earnings were $39.8M, down 65% year over year. The effective tax rate was 0.4%. Non-operating items added $32.5M, 81% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$24.9M. Non-cash charges added back $55.2M of depreciation and amortization. Working capital and other items used $119.8M. Capital expenditures of $17.4M exceeded it, leaving free cash flow of −$42.3M.
Questions
What was Hines Global Income Trust's revenue in the first quarter 2026?
Hines Global Income Trust (HGIT) reported revenue of $133M for the first quarter 2026 (Q1 2026), +42% from a year earlier and +7% from the quarter before.
Was Hines Global Income Trust profitable in the first quarter 2026?
Operating profit was $7.4M (5.6% of revenue) and net earnings $39.8M.