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Piedmont Realty Trust (PDM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 26, 2026 · Piedmont Realty Trust (PDM) Q3 2026 earnings results →
Q3 2026 Revenue up 9% year over year to $151M · 14¢ of every $1 of revenue lost · operating margin 14.5%
Piedmont Realty Trust made $151M in Q3 2026 (+9% Y/Y). Operating margin 14.5%, net loss $21.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 26, 2026.
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What changed this quarter
Revenue was $151.2M in Q3 2026, up 9% year over year and up 5% from the previous quarter.
Operating profit was $22.0M, a 14.5% margin (up 1.3 points year over year). Of the extra revenue versus Q3 2025, 30% reached operating profit, above the 13% margin then. Total costs grew 7% against revenue growth of 9%. The fastest-growing cost line was General & admin (+19%). The quarter ended with a net loss of $21.0M, wider than the previous quarter's $11.1M loss. Net interest and other expense of $43.0M was the main reason.
Operating cash flow was $24.4M (down 32% year over year). Non-cash charges added back $61.1M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $18.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 26, 2026 | $151M | +9% | 14.5% | −$21.0M | $24.4M |
| Q2 2026 | 10-Q | Jul 28, 2026 | $144M | +3% | 14.3% | −$11.1M | $64.3M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $143M | +0.4% | 13.1% | −$12.9M | $28.1M |
| Q4 2025 | 10-K | Feb 17, 2026 | $143M | -0.3% | 13.2% | −$43.2M | $50.9M |
| Q3 2025 | 10-Q | Oct 27, 2025 | $139M | -0.1% | 13.2% | −$13.5M | $35.8M |
| Q2 2025 | 10-Q | Jul 28, 2025 | $140M | -2% | 15.2% | −$16.8M | $50.1M |
| Q1 2025 | 10-Q | Apr 28, 2025 | $143M | -1% | 14.6% | −$10.1M | $3.7M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Piedmont Realty Trust
Piedmont Realty Trust, Inc. (“Piedmont," "we," "our," or "us") (NYSE: PDM) is a Maryland corporation that operates in a manner so as to qualify as a real estate investment trust (“REIT”) for federal income tax purposes and engages in the ownership, management, development, redevelopment, and operation of high-quality, Class A office properties located primarily in major U.S. Sunbelt markets. Piedmont was incorporated in 1997 and commenced operations in 1998. Piedmont conducts business through its wholly-owned subsidiary, Piedmont Operating Partnership, L.P. (“Piedmont OP”), a Delaware limited partnership. Piedmont OP owns properties directly, through wholly-owned subsidiaries, and through various joint ventures which it controls. References to Piedmont herein shall include Piedmont and all of its subsidiaries, including Piedmont OP and its subsidiaries and joint ventures.
In its own words, from its 10-K, filed Feb 17, 2026.
Piedmont Realty Trust against its Opeators of Nonresidential Buildings peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +9% against the peers' median -6%. Operating margin: 14.5% against the peers' median -6.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PDM Piedmont Realty Trust | Q3 2026 | $151M | +9% | 14.5% |
| MAYS Mays J W | Q3 FY26 | $5.3M | -6% | -6.1% |
| ZDPY Zoned Properties | Q2 2026 | $774K | -18% | -6.0% |
| AWCA Awaysis Capital | Q4 FY26 | $113K | -32% | -594.5% |
Source: Piedmont Realty Trust 10-Q on SEC EDGAR · CIK 1042776 · Opeators of Nonresidential Buildings
Guidance and outlook
13F: who owns PDM and who is buying
More on PDM
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results