Filing Flows › Net Lease Office Properties (NLOP) › Q1 2026
Net Lease Office Properties (NLOP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Net Lease Office Properties (NLOP) reported revenue of $9.0M for the first quarter 2026 (Q1 2026), -69% from a year earlier and -71% from the quarter before. Operating margin was 33.6%, net earnings $25.0M (277.0% of revenue).
Net Lease Office Properties, Q1 2026: revenue $9.0M (-69% year over year), operating margin 33.6%, net earnings $25.0M, operating cash flow $8.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.0M | -71% | -69% |
| Operating profit | $3.0M | -54% | -56% |
| Net earnings | $25.0M | — | 51× |
| Operating cash flow | $8.1M | -63% | -42% |
What changed
Revenue was $9.0M in Q1 2026, down 69% year over year and down 71% from the previous quarter.
Operating profit was $3.0M, a 33.6% margin (up 10.0 points year over year). Total costs fell 73% while revenue fell 69%. Net earnings were $25.0M, up 4981% year over year. The effective tax rate was 0.1%. Non-operating items added $22.0M, 88% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $8.1M (down 42% year over year), 32% of net earnings. Non-cash charges added back $2.3M of depreciation and amortization. Working capital and other items used $19.2M.
Questions
What was Net Lease Office Properties' revenue in the first quarter 2026?
Net Lease Office Properties (NLOP) reported revenue of $9.0M for the first quarter 2026 (Q1 2026), -69% from a year earlier and -71% from the quarter before.
Was Net Lease Office Properties profitable in the first quarter 2026?
Operating profit was $3.0M (33.6% of revenue) and net earnings $25.0M.