NYSE$ONL

Orion Office Reit Inc. · Q1 2026 earnings

Q1 2026 earnings · · Investor relations

Briefing

Orion Properties reported Q1 2026 total revenues of $36.3M and a net loss of $13.6M.

Orion Properties (office REIT spinoff) reported Q1 2026 total revenues of $36.3 million versus $38.0 million and a net loss of $13.6 million as occupancy and interest costs weighed on the office portfolio.

  • Total revenues $36.3M (-4.6% YoY).
  • Net loss $(13.6)M.
  • Office property portfolio under pressure.
  • Lease rollover and tenant retention key.
  • Interest expense on mortgage debt.

Headline financials

Total Revenue

$36.3M

Previous: $38M-4.6%
EPS (adj)

-$0.24

Previous: -$0.09-166.7%
Capital Expenditures

-$300K

Previous: $0.00
Net Income

-$13.6M

Previous: -$9.36M-45.0%
Operating Income

$9.82M

Previous: -$1.14M+961.0%

Revenue & EPS history

Orion Office REIT · Revenue · Quarterly

$36.3M

Q1 2026-4.6%vs Q1 2025
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Forward guidance

Office REIT discusses leasing, capital recycling, and work-from-home headwinds.

Tailwinds

  • Portfolio repositioning opportunities.
  • Potential asset sales to delever.

Headwinds

  • Office sector fundamentals remain challenged.
  • Higher cost of capital for refinancings.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2026

Historical avgQ1 2026

-4.8%

Avg return

Earnings day

-6.1%

Avg return

5 days after

-9.1%

Avg return

30 days after

32%

7 / 22 earnings

Positive

+6.1%

Q3 2025

Best reaction

-29.4%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.8%+0.3%-2.4%
Q4 2025-3.1%-5.9%-14.5%
Q3 2025+6.1%-0.4%-15.9%
Q1 2025-2.5%+8.5%+5.5%
Q4 2024-29.4%-36.9%-51.9%
Q3 2024+1.8%-3.0%+1.3%
Q2 2024+0.3%-1.3%+8.8%
Q1 2024+0.6%+10.4%+3.0%
Q4 2023-14.8%-17.1%-18.8%
Q3 2023-1.2%+1.4%+10.5%
Q2 2023+4.2%+4.6%-10.7%
Q1 2023-2.7%-10.0%+3.5%
Q4 2022-0.7%-11.3%-12.2%
Q3 2022-1.7%-2.7%+1.7%
Q2 2022+0.3%+1.4%-8.2%
Q1 2022-2.4%-5.5%-4.9%
Q1 2021-2.4%-5.5%-4.9%
Q2 2021-14.1%-16.5%-24.1%
Q4 2020-14.1%-16.5%-24.1%
Q4 2021-14.1%-16.5%-24.1%
Q4 2019-14.1%-16.5%-24.1%
Q3 2021+0.8%+4.3%+5.7%
Q3 2020
Q2 2020
Q1 2020

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