Simon Property Group, Inc.: EPS $1.54 vs $1.69 expected; revenue $1.81B vs $1.63B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 1.54 | 1.69 | −8.9% | 1.86 |
| Revenue (USD bn) | 1.81 | 1.63 | +11.2% | 1.60 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Nov 5, 2026 | Q3 FY2026 | 1.54 | 1.69 | −8.9% | 1.81 | 1.63 | +11.2% |
| Aug 10, 2026 | Q2 FY2026 | 1.49 | 1.64 | −9.1% | 1.66 | 1.61 | +3.0% |
| May 11, 2026 | Q1 FY2026 | 1.48 | 1.46 | +1.4% | 1.76 | 1.54 | +13.9% |
| Feb 2, 2026 | Q4 FY2025 | 3.49 | 1.90 | — | 1.79 | 1.49 | +20.0% |
| Nov 3, 2025 | Q3 FY2025 | 1.86 | 1.97 | −5.6% | 1.60 | 1.40 | +14.2% |
| Aug 4, 2025 | Q2 FY2025 | 1.70 | 1.60 | +6.2% | 1.50 | 1.38 | +8.8% |
| May 12, 2025 | Q1 FY2025 | 2.95 | 2.91 | +1.4% | 1.47 | 1.35 | +9.4% |
| Feb 4, 2025 | Q4 FY2024 | 2.04 | 1.98 | +3.0% | 1.58 | 1.41 | +12.3% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Simon Property Group, Inc. results: EPS $1.54 vs $1.69 expected; revenue $1.81B vs $1.63B. The results cover the company's Q3 FY2026. EPS came in below analysts' estimate by 8.9%; revenue above the estimate by 11.2%.
Revenue was up 13.3% from $1.60 billion a year earlier (Q3 FY2025). EPS was down 17.2% from $1.86 a year earlier. On its record, EPS topped analysts' estimates in 4 of 6 earlier comparable reports.
What the results mean
According to the company's results release, management raised its financial outlook.
Simon Property Group’s results reflect strength across its properties. Management highlighted continued leasing momentum, rising rents and occupancy, accelerating shopper traffic growth and growing retailer sales. These factors support property net operating income growth and illustrate the role of attractive shopping, dining and entertainment destinations in the business.
Net income declined despite growth in real estate funds from operations, reflecting noncash losses from revaluing exchangeable bonds and an equity security held through an unconsolidated investment. Separating property performance from investment revaluation effects is therefore essential to understanding the results; the decline in accounting profit does not itself indicate weaker leasing activity.
What to watch on the earnings call: Leasing momentum and rent growth, the relationship between shopper traffic and retailer sales, and the sources of property operating income growth. Other topics include the nature of revaluation losses, financing costs following debt issuance and secured borrowing, and the balance between liquidity, dividends and share repurchases.
For the full analysis of Simon Property Group, Inc. stock — valuation, scores and financial statements — see the stock page linked with this story.