First Industrial Q2 EPS rises 38.1% to $0.58 year over year; revenue climbs 8.2% to $194.94 million
FR•Guidance and development activity
2026 NAREIT FFO guidance lifts to $3.08-$3.16 per share/unit; development starts on a 613,000-square-foot Philadelphia project with a $77 million investment.
Operating metrics and leasing strengthen
Cash same-store NOI growth runs at 6.7%; in-service occupancy edges up 0.6 percentage point to 94.9% from Q1.
Cash rental rates climb 39% on commenced new and renewal leasing; a 708,000-square-foot Central Pennsylvania facility reaches 100% leased.
Second-quarter results improve year over year
First Industrial Realty Trust posts Q2 GAAP EPS of $0.58, up 38.1% from $0.42 a year earlier.
GAAP revenue rises 8.2% to $194.94 million; NAREIT FFO per diluted share/unit increases 7.9% to $0.82.
