Filing Flows › NNN REIT (NNN) › Q1 2026
NNN REIT (NNN) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
NNN REIT (NNN) reported revenue of $240M for the first quarter 2026 (Q1 2026), +4% from a year earlier and +0.8% from the quarter before. Operating margin was 61.0%, net earnings $94.0M (39.1% of revenue).
NNN REIT, Q1 2026: revenue $240M (+4% year over year), operating margin 61.0%, net earnings $94.0M, operating cash flow $187M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $240M | +0.8% | +4% |
| Operating profit | $147M | -1% | +2% |
| Net earnings | $94.0M | -2% | -3% |
| Operating cash flow | $187M | +48% | -8% |
What changed
Revenue was $240.4M in Q1 2026, up 4% year over year and up 1% from the previous quarter.
Operating profit was $146.6M, a 61.0% margin (down 1.3 points year over year). Of the extra revenue versus Q1 2025, 29% reached operating profit, below the 62% margin then. Total costs grew 8% against revenue growth of 4%. Net earnings were $94.0M, down 3% year over year. The effective tax rate was 0.0%.
Operating cash flow was $187.0M (down 8% year over year), 199% of net earnings. Non-cash charges added back $70.8M of depreciation and amortization. Working capital and other items added $22.3M.
Questions
What was NNN REIT's revenue in the first quarter 2026?
NNN REIT (NNN) reported revenue of $240M for the first quarter 2026 (Q1 2026), +4% from a year earlier and +0.8% from the quarter before.
Was NNN REIT profitable in the first quarter 2026?
Operating profit was $147M (61.0% of revenue) and net earnings $94.0M.
Source: NNN REIT 10-Q on SEC EDGAR.