Phillips Edison & Company, Inc.

phillipsedison.com

What Do They Do?

Owns and operates grocery-anchored neighborhood shopping centers, leasing space to national, regional and local retailers, and provides property-management and advisory services to investment funds.

How Do They Make Money?

Most revenue comes from leasing its real estate. It also earns service fees from investment funds: asset and property-management fees are paid monthly, while leasing and construction-management fees are paid upon completion of a transaction or project.

FY2025 revenue

Who Are Their Customers?

Retailers lease space in PECO’s centers; they are national, regional and local businesses, primarily offering necessity-based goods and services. PECO also provides property-management and advisory services to institutional joint ventures and a private fund.

Do Revenues Turn Into Profits?

Yes. It kept 15 cents of every revenue dollar as net income in FY2025.

Net income, FY2025

15% of revenue

▲ +78% vs FY2024 ($62.7M, 9%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Revenue: ▲ +6%; vs $182.7M in Q3 FY2025
Net income: ▲ +154%; vs $24.7M in Q3 FY2025

Oct 1, 2026 Expanded its Northwestern Mutual joint venture The transaction was valued at approximately $377.5 million; full-year earnings guidance was reaffirmed and gross acquisition guidance increased.
Jul 23, 2026 Raised full-year earnings and acquisition guidance
Apr 23, 2026 Raised full-year earnings guidance

Growing. Revenue grew 36% in 4 years, from $532.8M in FY2021 to $726.6M in FY2025, about 8% a year.

Unanchored everyday retail The latest report describes unanchored everyday retail centers as a complement to the grocery-anchored portfolio; the older report focused on grocery-anchored centers.

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