Filing Flows › Orion Properties (ONL) › Q2 2026
Orion Properties (ONL) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Orion Properties (ONL) reported revenue of $34.3M for the second quarter 2026 (Q2 2026), -8% from a year earlier and -5% from the quarter before. Operating margin was 9.9%, net earnings $24.6M (71.7% of revenue).
Orion Properties, Q2 2026: revenue $34.3M (-8% year over year), operating margin 9.9%, net earnings $24.6M, operating cash flow $16.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.3M | -5% | -8% |
| Operating profit | $3.4M | — | — |
| Net earnings | $24.6M | — | — |
| Operating cash flow | $16.1M | — | +39% |
What changed
Revenue was $34.3M in Q2 2026, down 8% year over year and down 5% from the previous quarter. Rental Revenue was the largest line at 99% of revenue. Rental Revenue lost $3.0M year over year (down 8%), 100% of the total change.
Operating profit was $3.4M, a 9.9% margin (up 57.9 points year over year). Total costs fell 44% while revenue fell 8%. Net earnings were $24.6M. The effective tax rate was 0.3%. Non-operating items added $21.3M, 86% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $16.1M (up 39% year over year), 65% of net earnings. Non-cash charges added back $13.5M of depreciation and amortization and $814K of share-based compensation. Working capital and other items used $22.8M. Capital expenditures of $16.8M exceeded it, leaving free cash flow of −$766K.
Questions
What was Orion Properties' revenue in the second quarter 2026?
Orion Properties (ONL) reported revenue of $34.3M for the second quarter 2026 (Q2 2026), -8% from a year earlier and -5% from the quarter before.
Was Orion Properties profitable in the second quarter 2026?
Operating profit was $3.4M (9.9% of revenue) and net earnings $24.6M.
Source: Orion Properties 10-Q on SEC EDGAR.