Wheeler REIT swings to FY26 Q2 profit of $9.75 million; revenue drops 13.9% to $22.48 million
WHLR•Second-quarter results
Wheeler Real Estate swung to net income of $9.75 million as revenue fell 13.9% to $22.48 million.
Operating income dropped 29.7% to $10.51 million; interest expense declined 8.4% to $7.96 million.
Net changes in fair value of derivative liabilities flipped to a $7.57 million gain; impairment charges were $1.59 million.
Six-month results and balance sheet
For the six months, net income rose more than fivefold to $8.58 million as revenue slid 7.9% to $46.48 million.
The company disposed of seven properties in 2026; total debt eased to $471.7 million from $482.84 million at Dec. 31, 2025.
