Office Properties Income Trust · Q1 2026 earnings

Briefing

OPI's Q1 rental income fell 4.2% to $109M as Chapter 11 reorganization costs drove a wider $93M net loss

Office Properties Income Trust reported Q1 2026 results for the quarter ended March 31, 2026, showing rental income of $108.9 million, down 4.2% from $113.6 million in the prior-year quarter. Comparable-property rental income declined 4.0% and property-level NOI fell 8.4% to $55.4 million on comparable assets, while consolidated NOI was $56.4 million. The net loss widened to $93.0 million, or $1.26 per diluted share, from $45.9 million a year earlier, primarily due to $59.5 million in Chapter 11 reorganization items as the company progresses toward confirmation of its fourth amended plan of reorganization. Interest expense declined to $42.2 million from $53.4 million. Cash and cash equivalents were $26.3 million at quarter end with $61.4 million in restricted cash; operating activities used $52.9 million of cash. The portfolio comprised 122 wholly owned properties totaling 17.1 million rentable square feet.

• Rental income was $108.9M (-4.2% YoY); comparable-property NOI fell 8.4% to $55.4M
• Net loss widened to $93.0M ($1.26/share) from $45.9M, including $59.5M of reorganization costs
• Interest expense declined 20.9% to $42.2M; the Bankruptcy Court confirmed the fourth amended reorganization plan in April 2026
• Cash and equivalents totaled $26.3M; operating cash flow was negative $52.9M for the quarter
• Portfolio spans 122 properties (17.1M sq ft); U.S. government tenants represent 17.5% of annualized rental income

Headline financials

Revenue & EPS history