Earnings call transcript: Kimco Realty tops Q3 2026 EPS estimates, lifts outlook

Kimco Realty reported earnings per share of $0.41 in Q3 2026, surpassing analysts' expectations and raising its full-year outlook. The company's adjusted earnings of $0.41 per share were more than double the $0.20 forecast, while revenue of $546.14 million fell slightly short of estimates at $550.61 million. Kimco's third-quarter performance was driven by higher occupancy, better collections, and faster rent commencements, with same-property net operating income growth accelerating to 4.9% from 3.5% in Q2.

The company's lease occupancy reached a record 96.6%, and small-shop occupancy hit a record 92.9%. Kimco's portfolio focuses on grocery-anchored and everyday-essentials retail in first-ring suburbs of major metro areas, which has helped it maintain stability despite higher interest rates and consumer sentiment challenges. The earnings beat was substantial, and Kimco's operating metrics improved across several areas, including occupancy, same-property NOI, credit loss, and margins.

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