Filing Flows › W. P. Carey (WPC) › Q1 2026
W. P. Carey (WPC) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
W. P. Carey (WPC) reported revenue of $455M for the first quarter 2026 (Q1 2026), +11% from a year earlier and +2% from the quarter before. Operating margin was 43.9%, net earnings $176M (38.8% of revenue).
W. P. Carey, Q1 2026: revenue $455M (+11% year over year), operating margin 43.9%, net earnings $176M, operating cash flow $283M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $455M | +2% | +11% |
| Operating profit | $199M | +11% | +4% |
| Net earnings | $176M | +19% | +40% |
| Operating cash flow | $283M | -7% | +4% |
What changed
Revenue was $454.5M in Q1 2026, up 11% year over year and up 2% from the previous quarter. Owned Real Estate Segment was the largest line at 100% of revenue. Owned Real Estate Segment added $45.6M year over year (up 11%), 102% of the total change. Asset management revenue declined 64%.
Operating profit was $199.4M, a 43.9% margin (down 2.8 points year over year). Of the extra revenue versus Q1 2025, 18% reached operating profit, below the 47% margin then. Total costs grew 17% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+19%). Net earnings were $176.3M, up 40% year over year. The effective tax rate was 7.7%.
Operating cash flow was $283.2M (up 4% year over year), 160% of net earnings. Non-cash charges added back $139.9M of depreciation and amortization and $7.4M of share-based compensation. Working capital and other items used $40.6M.
Questions
What was W. P. Carey's revenue in the first quarter 2026?
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Was W. P. Carey profitable in the first quarter 2026?
Operating profit was $199M (43.9% of revenue) and net earnings $176M.
Source: W. P. Carey 10-Q on SEC EDGAR.