Brandywine Realty Trust (BDN) Q2 2026 Earnings
How Did BDN Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +3.65%.
Did BDN Beat Earnings? Q2 2026 Results
No. Brandywine Realty Trust reported Q2 2026 earnings of $-0.18 a share on Jul 23, 2026, missing the $-0.17 consensus estimate by 5.9%. Revenue was $128.9M against a $123.1M estimate.
Brandywine Realty Trust delivered a mixed second quarter for fiscal 2026, posting revenue of $128.92 million, up 6.9% year over year and ahead of the $123.15 million consensus, while falling just short on the bottom line with a loss of $0.18 per diluted share against the $0.17 estimate, a 5.88% miss. The narrower net loss of $31.66 million compared favorably to the $88.99 million loss a year ago, which had been weighed down by $63.37 million in non-cash impairment charges on Austin properties, but rising interest expense, climbing to $41.93 million from $32.34 million, pressured FFO to $0.13 per diluted share. Portfolio rationalization remained the dominant operational theme, with total closed asset sales reaching $208 million and the full-year disposition target raised to $305 million, proceeds earmarked largely for debt reduction. Despite the stock dipping on the results, management narrowed full-year 2026 FFO guidance to $0.53 to $0.57 per diluted share and improved its loss per share outlook to $(0.45) to $(0.41), citing projected gains on real estate sales.
- Higher rents drove total revenue increase to $128.9 million from $120.6 million year-over-year
- Same-store NOI increased 0.5% on an accrual basis and 1.9% on a cash basis
- Tenant retention rate of 85% in Q2 2026
- Net absorption of 88,000 square feet during Q2 2026
- New lease/expansion rental rates increased 4.7% on an accrual basis
- Speculative revenue midpoint guidance raised 5.7% with 99% achieved
“We are pleased with our second quarter progress on our 2026 Business Plan highlighted by raising our speculative revenue midpoint guidance by 5.7%, and achieving 99% of the revised target.”
Brandywine Realty Trust CEO, on the earnings call
What Is Brandywine Realty Trust's Outlook?
Brandywine narrowed its full-year 2026 FFO guidance to $0.53–$0.57 per diluted share (from $0.52–$0.58) and adjusted its loss per share guidance to $(0.45)–$(0.41) per share (from $(0.76)–$(0.70)), primarily due to projected net gains on real estate sales. Key 2026 assumptions include: year-end core occupancy of 89–90%, year-end core leased of 90–91%, accrual rental rate mark-to-market of 5–7%, same-store accrual NOI of (1)–1%, property sales of $305 million (increased from $290 million), no property acquisitions, redevelopment of one Uptown ATX building in Austin, speculative revenue target of $18.4–$18.6 million (with $18.3 million already achieved), tenant retention of 51–53%, and $120–$140 million in share buyback and bond repurchase activity primarily in Q3/Q4 2026.
BDN YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $128.9M | $120.6M | +6.9% |
| Operating Income | $19.5M | $7.9M | +147.1% |
| Net Income | −$31.5M | −$19.2M | +64.5% |
BDN Revenue by Segment
When Does Brandywine Realty Trust Report Next?
Figures from SEC filings and company reports. Not investment advice.