SL Green Realty (SLG) Q4 2025 Earnings
Reported Jan 29, 2026 at 1:43 PM ET · SEC Source
Q4 25 EPS
$-1.49
MISS 146.20%
Est. $-0.61
Q4 25 Revenue
$276.5M
BEAT +69.89%
Est. $162.7M
vs S&P Since Q4 25
+2.0%
BEATING MARKET
SLG +11.1% vs S&P +9.1%
Full Year 2025 Results
FY 25 EPS
$-1.61
FY 25 Revenue
$1.00B
Market Reaction
Did SLG Beat Earnings? Q4 2025 Results
SL Green Realty delivered a deeply mixed fourth quarter, posting a GAAP net loss of $1.49 per diluted share against a consensus estimate of negative $0.61, a miss of 146.20%, even as revenue of $276.47 million topped expectations of $162.73 million b… Read more SL Green Realty delivered a deeply mixed fourth quarter, posting a GAAP net loss of $1.49 per diluted share against a consensus estimate of negative $0.61, a miss of 146.20%, even as revenue of $276.47 million topped expectations of $162.73 million by 69.89% and surged 916.2% year over year. The bottom-line shortfall was driven primarily by $23.55 million in depreciable real estate reserves and $28.14 million in purchase price and fair value adjustments, charges that compounded a steep decline in FFO to $86.23 million, or $1.13 per diluted share, from $131.88 million a year ago. Beneath the headline losses, however, operating fundamentals showed resilience; Manhattan same-store office occupancy climbed to 93.0% at year-end, and 56 leases covering 766,783 square feet were signed in the quarter at rents running 6.4% above prior escalated levels. Still, with the stock recently touching a 52-week low and Truist Securities trimming its price target to $44, investor confidence in the company's near-term earnings trajectory remains cautious.
Key Takeaways
- • Strong Manhattan office leasing activity: 56 leases totaling 766,783 sq ft in Q4 with 6.4% mark-to-market increase
- • Manhattan same-store office occupancy increased to 93.0% from 92.4% at end of Q3 2025
- • Full-year leasing of 199 Manhattan office leases totaling 2,568,551 sq ft
- • Special servicing business grew to $8.4 billion in active assignments
SLG YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
SLG Revenue by Segment
With YoY comparisons, source: SEC Filings
SLG Earnings Trends
SLG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SLG EPS Trend
Earnings per share: estimate vs actual
SLG Revenue Trend
Quarterly revenue: estimate vs actual
SLG Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-0.95 | $-1.20 | -26.96% | $253.1M | +31.58% |
| Q4 25 MISS FY | $-0.61 | $-1.49 | -146.20% | $276.5M | +69.89% |
| FY Full Year | — | $-1.61 | — | $1.00B | — |
| Q3 25 BEAT | $0.00 | $0.34 | +113,433.33% | $244.8M | +40.26% |
| Q2 25 MISS | $-0.05 | $-0.16 | -205.93% | $241.9M | +40.41% |