Reported results
- Reported GAAP net income available to common stockholders of $185,165 thousand, or $0.48 per diluted share, for 3Q26 compared to $57,631 thousand, or $0.15 per diluted share, for 3Q25.
- Reported GAAP total operating revenues of $1,902,418 thousand in 3Q26, compared to $1,577,234 thousand in 3Q25.
- Reported Nareit-defined Funds From Operations (FFO) per diluted share and unit of $1.97 ($741,512 thousand) in 3Q26, compared to $1.65 ($570,067 thousand) in 3Q25.
- Delivered non-GAAP Core FFO per diluted share (excluding net promote) of $2.10 ($795,263 thousand) in 3Q26, compared to $1.89 ($656,001 thousand) in 3Q25.
- Generated non-GAAP Adjusted EBITDA of $977,702 thousand in 3Q26, compared to $867,807 thousand in 3Q25.
- Reported non-GAAP Adjusted Funds From Operations (AFFO) per diluted share and unit of $1.81 ($686,025 thousand) in 3Q26, compared to $1.76 ($612,569 thousand) in 3Q25.
Guidance
- Full year 2026 Core FFO per share (excluding net promote) outlook raised to $8.30 - $8.35.
- Full year 2026 Constant-Currency Core FFO per share (excluding net promote) outlook raised to $8.25 - $8.30.
- Full year 2026 GAAP net income per diluted share expected to be $2.90 - $2.95.
- Full year 2026 Total revenue (excluding promote income) expected to be $7.050 - $7.125 billion.
- Full year 2026 non-GAAP Adjusted EBITDA expected to be $3.800 - $3.850 billion.
- Full year 2026 Funds From Operations / share (NAREIT-Defined) expected to be $8.55 - $8.60.
Price and volatility reaction
The stock moved -1.2% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -2.1 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 182.91 | 2026-10-29 |
| Close after release | 180.7 | 2026-10-30 |
| Realised move | -1.2% | close to close |
| 30d ATM IV change | -2.1 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-29 (8-K, Item 2.02). Read the original filing on sec.gov.
