First Industrial Realty Trust Inc (FR) stock
FRNYSEReal Estate Investment TrustsFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 22, 2026Score 18/302% below fair value
$54.41−0.58 (-1.05%)
Close on Oct 30, 2026Market cap $7.21BP/E 19.9Yield 3.27%
Earnings
First Industrial Realty Trust's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.
Next report
Feb 3, 2027
Q4 FY2026 · estimated, during market hours
Revenue, Q3 FY2026
$197.12M
+8.6% on a year earlier
funds from operations (FFO), Q3 FY2026
$0.81
$0.76 a year earlier
Latest guidance
Issued
Oct 21, 2026 · 10 items
Quarterly results
Revenue and earnings per share from each of First Industrial Realty Trust's earnings releases, newest first
| Quarter | Reported | Revenue | YoY | EPS | Adj. EPS | Source |
|---|---|---|---|---|---|---|
| Q4 FY2026ended Dec 31, 2026 | Feb 3, 2027Expected | – | – | – | – | – |
| Q3 FY2026ended Sep 30, 2026 | Oct 21, 2026after the close | $197.12M | +8.6% | $0.44 | $0.81 | Release |
| Q2 FY2026ended Jun 30, 2026 | Jul 22, 2026during market hours | $194.94M | – | $0.58 | – | Release |
| Q1 FY2026ended Mar 31, 2026 | Apr 22, 2026during market hours | $194.83M | +10.0% | $1.08 | $1.12 | Release |
| Q4 FY2025ended Dec 31, 2025 | Feb 4, 2026during market hours | $188.41M | +7.3% | $0.59 | – | Release |
| Q3 FY2025ended Sep 30, 2025 | Oct 15, 2025during market hours | $181.43M | +8.2% | $0.49 | $0.76 | Release |
| Q2 FY2025ended Jun 30, 2025 | Jul 16, 2025during market hours | – | – | $0.42 | $0.76 | Release |
| Q1 FY2025ended Mar 31, 2025 | Apr 16, 2025during market hours | $177.07M | +9.1% | $0.36 | $0.68 | Release |
| Q4 FY2024ended Dec 31, 2024 | Feb 6, 2025during market hours | $175.59M | +11.6% | $0.52 | $0.71 | Release |
| Q3 FY2024ended Sep 30, 2024 | Oct 16, 2024during market hours | $167.65M | +8.1% | $0.75 | $0.68 | Release |
| Q2 FY2024ended Jun 30, 2024 | Jul 17, 2024during market hours | $164.14M | +7.8% | $0.39 | $0.66 | Release |
| Q1 FY2024ended Mar 31, 2024 | Apr 17, 2024during market hours | $162.27M | +8.6% | $0.52 | $0.60 | Release |
| Q4 FY2023ended Dec 31, 2023 | Feb 7, 2024during market hours | $157.28M | +8.8% | $0.67 | $0.63 | Release |
| Q3 FY2023ended Sep 30, 2023 | Oct 18, 2023during market hours | $155.11M | +11.0% | $0.57 | $0.62 | Release |
| Q2 FY2023ended Jun 30, 2023 | Jul 19, 2023during market hours | $152.22M | +17.1% | $0.41 | $0.61 | Release |
| Q1 FY2023ended Mar 31, 2023 | Apr 19, 2023during market hours | $149.42M | +19.0% | $0.42 | $0.59 | Release |
| Q4 FY2022ended Dec 31, 2022 | Feb 8, 2023during market hours | $144.61M | +19.0% | $0.62 | $0.60 | Release |
| Q3 FY2022ended Sep 30, 2022 | Oct 19, 2022during market hours | $139.75M | +15.4% | $0.94 | $0.60 | Release |
| Q2 FY2022ended Jun 30, 2022 | Jul 20, 2022during market hours | $130.05M | – | $0.88 | $0.56 | Release |
| Q1 FY2022ended Mar 31, 2022 | Apr 20, 2022during market hours | $125.51M | – | $0.27 | $0.53 | Release |
| Q4 FY2021ended Dec 31, 2021 | Feb 10, 2022during market hours | $121.55M | – | $0.87 | $0.52 | Release |
| Q3 FY2021ended Sep 30, 2021 | Oct 20, 2021during market hours | $121.08M | – | $0.33 | $0.51 | Release |
| Q2 FY2021ended Jun 30, 2021 | Jul 21, 2021during market hours | – | – | – | – | Filing |
| Q1 FY2021ended Mar 31, 2021 | Apr 21, 2021during market hours | – | – | – | – | Filing |
| Q4 FY2020ended Dec 31, 2020 | Feb 11, 2021during market hours | – | – | – | – | Release |
| Q3 FY2020ended Sep 30, 2020 | Oct 22, 2020during market hours | – | – | – | – | Filing |
Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.
Current guidance
First Industrial Realty Trust's latest outlook for periods it has not reported yet, compared with what it said before
| Metric | Period | Guidance | Before | Change | Given |
|---|---|---|---|---|---|
| additional development leasing | Q4 FY2026 | 650,000 | – | New | Oct 21, 2026 |
| Fourth quarter SS NOI growth on a cash basis before termination feesnon-GAAP | Q4 FY2026 | +4% – +6% | – | New | Oct 21, 2026 |
| In service occupancy at year-end fourth quarter | Q4 FY2026 | 94.5% – 96.5% | – | New | Oct 21, 2026 |
| SS NOI growth on a cash basis before termination feesnon-GAAP | FY2026 | +5.25% – +6.25% | +5% – +6% | Raised | Jul 22, 2026 |
| Net Income Available to Common Stockholders and UnitholdersGAAP | FY2026 | $2.51 – $2.55 | – | New | Oct 21, 2026 |
| Net Income Available to Common Stockholders and UnitholdersGAAP | FY2026 | $2.48 – $2.56 | $2.32 – $2.42 | Raised | Jul 22, 2026 |
| NAREIT Funds From Operationsnon-GAAP | FY2026 | $3.11 – $3.15 | – | New | Oct 21, 2026 |
| Average quarter-end in service occupancy | FY2026 | 94% – 95% | – | New | Jul 22, 2026 |
| Average quarter-end in service occupancynon-GAAP | FY2026 | 94% – 95% | 94% – 95% | Reaffirmed | Apr 22, 2026 |
| capitalize interest | FY2026 | $0.08 | – | New | Oct 21, 2026 |
| capitalize interest per share | FY2026 | $0.08 | $0.08 | Reaffirmed | Jul 22, 2026 |
| FFO Before Advisory Costs Related to a Contested Proxy Campaignnon-GAAP | FY2026 | $3.15 – $3.19 | – | New | Oct 21, 2026 |
| FFO Before Advisory Costs Related to a Contested Proxy Campaignnon-GAAP | FY2026 | $3.12 – $3.20 | $3.09 – $3.19 | Raised | Jul 22, 2026 |
| full-year quarter-end average in service occupancy | FY2026 | 94.5% – 95% | – | New | Oct 21, 2026 |
| General and administrative expensenon-GAAP | FY2026 | $42.00M – $43.00M | – | New | Oct 21, 2026 |
| General and administrative expensenon-GAAP | FY2026 | $42.00M – $43.00M | – | New | Jul 22, 2026 |
| General and administrative expense | FY2026 | $42.00M – $43.00M | $42.00M – $43.00M | Reaffirmed | Apr 22, 2026 |
| NAREIT Funds From Operationsnon-GAAP | FY2026 | $3.08 – $3.16 | $3.05 – $3.15 | Lowered | Jul 22, 2026 |
| SS NOI growth for the full year 2026non-GAAP | FY2026 | +6.25% – +6.75% | – | New | Oct 21, 2026 |
Guidance vs results
The last range First Industrial Realty Trust gave before each report, against the figure it then reported. Full years add up the four quarters.
| Period | Metric | Guidance | Actual | Result |
|---|---|---|---|---|
| FY2025 | EPS (GAAP) | $1.67 – $1.71 | $1.86Σ4Q | Above range |
Guidance history
Every forecast First Industrial Realty Trust put in an earnings release, newest first
| Given | Metric | Period | Guidance | Change |
|---|---|---|---|---|
| Oct 21, 2026 | NAREIT Funds From Operations | FY2026 | $3.11 – $3.15 | New |
| Oct 21, 2026 | Net Income Available to Common Stockholders and Unitholders | FY2026 | $2.51 – $2.55 | New |
| Oct 21, 2026 | General and administrative expense | FY2026 | $42.00M – $43.00M | New |
| Oct 21, 2026 | SS NOI growth for the full year 2026 | FY2026 | +6.25% – +6.75% | New |
| Oct 21, 2026 | full-year quarter-end average in service occupancy | FY2026 | 94.5% – 95% | New |
| Oct 21, 2026 | Fourth quarter SS NOI growth on a cash basis before termination fees | Q4 FY2026 | +4% – +6% | New |
| Oct 21, 2026 | In service occupancy at year-end fourth quarter | Q4 FY2026 | 94.5% – 96.5% | New |
| Oct 21, 2026 | additional development leasing | Q4 FY2026 | 650,000 | New |
| Oct 21, 2026 | FFO Before Advisory Costs Related to a Contested Proxy Campaign | FY2026 | $3.15 – $3.19 | New |
| Oct 21, 2026 | capitalize interest | FY2026 | $0.08 | New |
| Jul 22, 2026 | SS NOI growth on a cash basis before termination fees | FY2026 | +5.25% – +6.25% | Raised |
| Jul 22, 2026 | Net Income Available to Common Stockholders and Unitholders | FY2026 | $2.48 – $2.56 | Raised |
| Jul 22, 2026 | Average quarter-end in service occupancy | FY2026 | 94% – 95% | New |
| Jul 22, 2026 | General and administrative expense | FY2026 | $42.00M – $43.00M | New |
| Jul 22, 2026 | capitalize interest per share | FY2026 | $0.08 | Reaffirmed |
| Jul 22, 2026 | NAREIT Funds From Operations | FY2026 | $3.08 – $3.16 | Lowered |
| Jul 22, 2026 | FFO Before Advisory Costs Related to a Contested Proxy Campaign | FY2026 | $3.12 – $3.20 | Raised |
| Apr 22, 2026 | SS NOI growth on a cash basis before termination fees | FY2026 | +5% – +6% | Reaffirmed |
| Apr 22, 2026 | Net Income Available to Common Stockholders and Unitholders | FY2026 | $2.32 – $2.42 | Raised |
| Apr 22, 2026 | Average quarter-end in service occupancy | FY2026 | 94% – 95% | Reaffirmed |
| Apr 22, 2026 | General and administrative expense | FY2026 | $42.00M – $43.00M | Reaffirmed |
| Apr 22, 2026 | capitalize interest per share | FY2026 | $0.08 | New |
| Apr 22, 2026 | NAREIT Funds From Operations | FY2026 | $3.05 – $3.15 | Lowered |
| Apr 22, 2026 | FFO Before Advisory Costs Related to a Contested Proxy Campaign | FY2026 | $3.09 – $3.19 | Raised |
| Feb 4, 2026 | SS NOI growth on a cash basis before termination fees | FY2026 | +5% – +6% | New |
| Feb 4, 2026 | Net Income Available to Common Stockholders and Unitholders | FY2026 | $1.58 – $1.68 | New |
| Feb 4, 2026 | Average quarter-end in service occupancy | FY2026 | 94% – 95% | New |
| Feb 4, 2026 | General and administrative expense | FY2026 | $42.00M – $43.00M | New |
| Feb 4, 2026 | NAREIT Funds From Operations | FY2026 | $3.09 – $3.19 | New |
| Oct 15, 2025 | NAREIT Funds From Operations | FY2025 | $2.94 – $2.98 | New |
| Oct 15, 2025 | Net Income Available to Common Stockholders and Unitholders | FY2025 | $1.67 – $1.71 | New |
| Oct 15, 2025 | SS NOI growth for the full year 2025 | FY2025 | +7% – +7.5% | New |
| Oct 15, 2025 | General and administrative expense ("G&A") | FY2025 | $40.50M – $41.50M | New |
| Oct 15, 2025 | Fourth quarter SS NOI growth on a cash basis before termination fees | Q4 FY2025 | +3% – +5% | New |
| Jul 16, 2025 | capitalize interest | FY2025 | $0.09 | New |
| Jul 16, 2025 | General and administrative expense ("G&A") | FY2025 | $40.50M – $41.50M | Reaffirmed |
| Jul 16, 2025 | SS NOI growth on a cash basis before termination fees | FY2025 | +6% – +7% | Reaffirmed |
| Jul 16, 2025 | Average quarter-end in service occupancy | FY2025 | 95% – 96% | Reaffirmed |
| Apr 16, 2025 | NAREIT Funds From Operations | FY2025 | $2.87 – $2.97 | Reaffirmed |
| Apr 16, 2025 | Net Income Available to Common Stockholders and Unitholders | FY2025 | $1.52 – $1.62 | Lowered |
| Apr 16, 2025 | SS NOI growth on a cash basis before termination fees | FY2025 | +6% – +7% | New |
| Apr 16, 2025 | General and administrative expense ("G&A") | FY2025 | $40.50M – $41.50M | Reaffirmed |
| Feb 5, 2025 | SS NOI growth on a cash basis before termination fees | FY2025 | +6% – +7% | New |
| Feb 5, 2025 | NAREIT Funds From Operations | FY2025 | $2.87 – $2.97 | New |
| Feb 5, 2025 | Net Income Available to Common Stockholders and Unitholders | FY2025 | $1.57 – $1.67 | New |
| Feb 5, 2025 | Average quarter-end in service occupancy | FY2025 | 95% – 96% | New |
| Feb 5, 2025 | General and administrative expense ("G&A") | FY2025 | $40.50M – $41.50M | New |
| Oct 16, 2024 | Net Income Available to Common Stockholders | FY2024 | $2.09 – $2.13 | Raised |
| Oct 16, 2024 | Fourth quarter SS NOI growth on a cash basis before termination fees | Q4 FY2024 | +8% – +10% | New |
| Oct 16, 2024 | quarterly average SS NOI growth | FY2024 | +7.75% – +8.25% | Raised |
| Oct 16, 2024 | General and administrative expense ("G&A") | FY2024 | $39.50M – $40.50M | Reaffirmed |
| Oct 16, 2024 | NAREIT Funds From Operations | FY2024 | $2.61 – $2.65 | New |
| Jul 17, 2024 | NAREIT Funds From Operations | FY2024 | $2.57 – $2.65 | Raised |
| Jul 17, 2024 | Net Income Available to Common Stockholders | FY2024 | $1.94 – $2.02 | Raised |
| Jul 17, 2024 | Average quarter-end in service occupancy | FY2024 | 95.75% – 96.75% | Reaffirmed |
| Jul 17, 2024 | SS NOI growth on a cash basis before termination fees | FY2024 | +7.25% – +8.25% | Reaffirmed |
| Jul 17, 2024 | General and administrative expense ("G&A") | FY2024 | $39.50M – $40.50M | Reaffirmed |
| Jul 17, 2024 | capitalize interest | FY2024 | $0.05 | New |
| Apr 17, 2024 | NAREIT Funds From Operations | FY2024 | $2.53 – $2.63 | Lowered |
| Apr 17, 2024 | Net Income Available to Common Stockholders | FY2024 | $1.49 – $1.59 | Raised |
| Apr 17, 2024 | Average quarter-end in service occupancy | FY2024 | 95.75% – 96.75% | Lowered |
| Apr 17, 2024 | SS NOI growth on a cash basis before termination fees | FY2024 | +7.25% – +8.25% | Lowered |
| Apr 17, 2024 | General and administrative expense ("G&A") | FY2024 | $39.50M – $40.50M | Reaffirmed |
| Feb 7, 2024 | NAREIT Funds From Operations | FY2024 | $2.54 – $2.64 | New |
| Feb 7, 2024 | Net Income Available to Common Stockholders | FY2024 | $1.42 – $1.52 | New |
| Feb 7, 2024 | Average quarter-end in service occupancy | FY2024 | 96% – 97% | New |
| Feb 7, 2024 | SS NOI growth on a cash basis before termination fees | FY2024 | +8% – +9% | New |
| Feb 7, 2024 | General and administrative expense ("G&A") | FY2024 | $39.50M – $40.50M | New |
| Oct 18, 2023 | SS NOI growth on a cash basis before termination fees | Q4 FY2023 | +6% – +7.5% | New |
| Oct 18, 2023 | quarterly average SS NOI growth | FY2023 | +8% – +8.5% | New |
| Oct 18, 2023 | FFO (NAREIT Definition) | FY2023 | $2.40 – $2.44 | Raised |
| Oct 18, 2023 | Net Income | FY2023 | $1.68 – $1.72 | Raised |
| Oct 18, 2023 | In service occupancy | Q4 FY2023 | 94.25% – 94.75% | New |
| Oct 18, 2023 | full year quarter-end average in service occupancy | FY2023 | 96.5% – 96.6% | Lowered |
| Oct 18, 2023 | General and administrative expense | FY2023 | $34.50M – $35.50M | Raised |
| Oct 18, 2023 | capitalize interest | FY2023 | $0.10 | Reaffirmed |
| Jul 19, 2023 | FFO | FY2023 | $2.35 – $2.43 | Raised |
| Jul 19, 2023 | Net Income | FY2023 | $1.40 – $1.48 | Raised |
| Jul 19, 2023 | Average quarter-end in service occupancy | FY2023 | 97% – 98% | Lowered |
| Jul 19, 2023 | SS NOI growth on a cash basis before termination fees | FY2023 | +7.75% – +8.75% | Reaffirmed |
| Jul 19, 2023 | General and administrative expense | FY2023 | $34.00M – $35.00M | Reaffirmed |
| Jul 19, 2023 | Capitalized interest | FY2023 | $0.10 | Raised |
| Jul 19, 2023 | FFO from Joint Venture | FY2023 | $0.02 | New |
| Apr 19, 2023 | FFO | FY2023 | $2.33 – $2.43 | Raised |
| Apr 19, 2023 | Net Income | FY2023 | $1.28 – $1.38 | Raised |
| Apr 19, 2023 | Average quarter-end in service occupancy | FY2023 | 97.75% – 98.75% | Reaffirmed |
| Apr 19, 2023 | SS NOI growth on a cash basis before termination fees | FY2023 | +7.75% – +8.75% | Raised |
| Apr 19, 2023 | General and administrative expense | FY2023 | $34.00M – $35.00M | Reaffirmed |
| Feb 8, 2023 | FFO (NAREIT Definition) | FY2023 | $2.29 – $2.39 | New |
| Feb 8, 2023 | Net Income | FY2023 | $1.09 – $1.19 | New |
| Feb 8, 2023 | Average quarter-end in service occupancy | FY2023 | 97.75% – 98.75% | New |
| Feb 8, 2023 | SS NOI growth on a cash basis before termination fees | FY2023 | +7.5% – +8.5% | New |
| Feb 8, 2023 | General and administrative expense | FY2023 | $34.00M – $35.00M | New |
| Feb 8, 2023 | capitalize interest | FY2023 | $0.08 | New |
| Oct 19, 2022 | FFO (NAREIT Definition) | FY2022 | $2.21 – $2.25 | Raised |
| Oct 19, 2022 | Net Income | FY2022 | $2.33 – $2.37 | Raised |
| Oct 19, 2022 | In service occupancy | Q4 FY2022 | 98% – 98.5% | New |
| Oct 19, 2022 | Fourth quarter SS NOI growth on a cash basis before termination fees | Q4 FY2022 | +5% – +6.5% | New |
| Oct 19, 2022 | full year quarter-end average in service occupancy | FY2022 | 98.2% – 98.3% | Narrowed |
| Oct 19, 2022 | quarterly average SS NOI growth | FY2022 | +9.3% – +9.7% | Raised |
| Oct 19, 2022 | General and administrative expense | FY2022 | $34.00M – $35.00M | Reaffirmed |
| Oct 19, 2022 | capitalize interest | FY2022 | $0.12 | Raised |
| Jul 20, 2022 | FFO (NAREIT Definition) | FY2022 | $2.15 – $2.23 | Raised |
| Jul 20, 2022 | Net Income | FY2022 | $1.76 – $1.84 | Raised |
| Jul 20, 2022 | Same store NOI growth on a cash basis before termination fees | FY2022 | +8.25% – +9.25% | Raised |
| Jul 20, 2022 | Average quarter-end in service occupancy | FY2022 | 98% – 98.75% | Raised |
| Jul 20, 2022 | General and administrative expense | FY2022 | $34.00M – $35.00M | Raised |
| Jul 20, 2022 | capitalize interest | FY2022 | $0.10 | Lowered |
| Apr 20, 2022 | FFO (NAREIT Definition) | FY2022 | $2.10 – $2.20 | Raised |
| Apr 20, 2022 | Net Income | FY2022 | $1.04 – $1.14 | Reaffirmed |
| Apr 20, 2022 | Average quarter-end in service occupancy | FY2022 | 97.5% – 98.5% | Raised |
| Apr 20, 2022 | Same store NOI growth on a cash basis before termination fees | FY2022 | +7.75% – +8.75% | New |
| Apr 20, 2022 | General and administrative expense | FY2022 | $33.50M – $34.50M | Reaffirmed |
| Apr 20, 2022 | capitalized interest | FY2022 | $0.09 | New |
| Apr 20, 2022 | Real Estate Depreciation/Amortization | FY2022 | $1.06 | Raised |
| Feb 9, 2022 | FFO (NAREIT Definition) | FY2022 | $2.09 – $2.19 | New |
| Feb 9, 2022 | Net Income | FY2022 | $1.04 – $1.14 | New |
| Feb 9, 2022 | Same store NOI growth on a cash basis before termination fees | FY2022 | +7.25% – +8.25% | New |
| Feb 9, 2022 | Average quarter-end in service occupancy | FY2022 | 97.25% – 98.25% | New |
| Feb 9, 2022 | General and administrative expense | FY2022 | $33.50M – $34.50M | New |
| Oct 20, 2021 | FFO (NAREIT Definition) | FY2021 | $1.93 – $1.97 | New |
| Oct 20, 2021 | Net Income | FY2021 | $1.48 – $1.52 | New |
| Oct 20, 2021 | In service occupancy | Q4 FY2021 | 96.75% – 97.75% | New |
| Oct 20, 2021 | SS NOI growth on a cash basis before termination fees | Q4 FY2021 | +6% – +7.5% | New |
| Oct 20, 2021 | full year quarter-end average in service occupancy | FY2021 | 96.5% – 96.8% | New |
| Oct 20, 2021 | quarterly average SS NOI growth for the full year 2021 | FY2021 | +4.3% – +4.7% | New |
| Oct 20, 2021 | General and administrative expense | FY2021 | $34.00M – $35.00M | New |
| Oct 20, 2021 | capitalize interest | FY2021 | $0.08 | New |
Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.
Press releases
Releases First Industrial Realty Trust filed with the SEC as exhibits to Form 8-K or 6-K
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- Update
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- Update
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