Phillips Edison & Company, Inc. (PECO) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to Phillips Edison and Company's fourth quarter 2025 earnings call. Please note that this call is being recorded. I will now turn the call over to Kimberly Greene, Head of Investor Relations. Kimberly, you may begin. Thank you. I'm joined today by our Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield. Following our prepared remarks, we will open the call to Q&A. After today's call, an archived version will be published on our investor relations website. As a reminder, today's discussion may contain forward-looking statements about the company's view of future business and financial performance, including forward earnings guidance and future market conditions. These are based on management's current beliefs and expectations and are subject to various risks and uncertainties as described in our SEC filings. In our discussion today, we'll reference certain non-GAAP financial measures, information regarding our use of these measures, and reconciliations of these measures to our GAAP results are available in our earnings press release and supplemental information packet, both of which have been posted on our website. Please note that we have also posted a presentation with additional information. Our caution on forward-looking statements also applies to these materials. Now I'd like to turn the call over to Jeff Edison. Jeff? Thank you, Kim, and thank you, everyone, for joining us today. We are pleased to report strong 2025 results, which reflect NA REIT FFO per share growth of 7.2%, core FFO per share growth of 7%, and same center and away growth of 3.8%. In addition, our strong 2026 guidance growth rates for NA REIT FFO and core FFO per share are in the mid single digits. While the market may continue to be nervous abou...