Q1 2026 LXP Industrial Trust Earnings Call Transcript

Apr 29, 2026 / 12:30 PM GMT

Release Date Price: $50.16 (-1.67%)

Transcript 8-K10-Q

Key Points

Positve

LXP Industrial Trust (LXP) executed 3.2 million square feet of new leases and renewals, including a significant 1.1 million-square-foot facility in Greenville-Spartanburg.
The company achieved a 96.6% lease rate at the end of the first quarter, with expectations to reach 97.1% with new leases signed in April.
LXP's adjusted company FFO for the first quarter was approximately $47 million, representing a 2.6% growth compared to the first quarter of 2025.
The company is actively discussing 7.4 million square feet of development and redevelopment leasing opportunities through 2027.
LXP's balance sheet remains strong with a net debt to annualized adjusted EBITDA of 5.1 times and $130 million in cash at quarter end.

Negative

The company anticipates lower same-store NOI growth in the second quarter due to first-quarter move-outs and timing of lease commencements.
LXP has several known move-outs, including a 97,000 square foot space in Columbus and a 230,000 square foot space in Tampa, which could impact occupancy rates.
The company is facing challenges in pre-leasing its Phoenix development project, although it remains optimistic about future prospects.
LXP's guidance assumes a 70-80% retention rate, indicating potential risks if unexpected move-outs occur.
The company plans to fund future developments through asset sales, which may impact income from existing assets.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LXP.N - LXP Industrial Trust
Q1 2026 LXP Industrial Trust Earnings Call
Apr 29, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and thank you for standing by. My name is John and I will be your conference operator today. At this time, I would like to welcome everyone to the LXP Industrial Trust first quarter 2026 earnings call and webcast. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. And if you would like to withdraw your question, press star again. As a reminder, this call is being recorded.

To turn the conference over to Heather Gentry, Investor Relations. Please go ahead.

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