Filing Flows › Realty Income (O) › Q2 2026
Realty Income (O) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Realty Income (O) reported revenue of $1.5B for the second quarter 2026 (Q2 2026), +10% from a year earlier and -0.1% from the quarter before. Operating margin was 23.1%, net earnings $344M (22.2% of revenue).
Realty Income, Q2 2026: revenue $1.5B (+10% year over year), operating margin 23.1%, net earnings $344M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | -0.1% | +10% |
| Operating profit | $357M | +15% | +100% |
| Net earnings | $344M | +10% | +75% |
| Operating cash flow | $1.1B | +31% | +8% |
| Free cash flow | $1.1B | +28% | +5% |
What changed
Revenue was $1.5B in Q2 2026, up 10% year over year and roughly flat from the previous quarter.
Operating profit was $0.36B, a 23.1% margin (up 10.5 points year over year). Of the extra revenue versus Q2 2025, 130% reached operating profit, above the 13% margin then. Total costs fell 3% while revenue rose 10%. The fastest-growing cost line was General & admin (+17%). Net earnings were $0.34B, up 75% year over year. The effective tax rate was 6.5%.
Operating cash flow was $1.1B (up 8% year over year), 309% of net income including minority interests. Non-cash charges added back $0.64B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.06B left free cash flow of $1.1B.
Questions
What was Realty Income's revenue in the second quarter 2026?
Realty Income (O) reported revenue of $1.5B for the second quarter 2026 (Q2 2026), +10% from a year earlier and -0.1% from the quarter before.
Was Realty Income profitable in the second quarter 2026?
Operating profit was $357M (23.1% of revenue) and net earnings $344M.
Source: Realty Income 10-Q on SEC EDGAR.