Terreno Realty Beats Q3 2026 Estimates as Revenue Rises 14% to $132.2M
Revenue of $132.2M vs. $128.7M expected and adjusted EPS of $0.72 vs. $0.45; revenue up 14% from a year earlier.
Terreno Realty (TRNO) beat estimates for the third quarter of 2026 on both revenue and adjusted EPS. Revenue was $132.2 million, up 14% from a year earlier, above the $128.7 million estimate, and adjusted EPS was $0.72, down 28% from a year earlier, above the $0.45 estimate.
Q3 2026 scorecard
| Parameters | Expected | Actual | Beat/Miss |
|---|---|---|---|
| Adjusted EPS | $0.45 | $0.72 | Beat by 59% |
| Revenue | $128.7M | $132.2M | Beat by 2.7% |
| Change | YoY | QoQ |
|---|---|---|
| Adjusted EPS | ▼ 28% | ▲ 33% |
| Revenue | ▲ 14% | ▲ 6.0% |
By our calculation, revenue was $3.5 million above the estimate and adjusted EPS was $0.27 above it. The QoQ column compares with the previous quarter's revenue of $124.7 million and adjusted EPS of $0.54. The YoY column compares with $116.2 million and $1.00 in the same quarter a year earlier.
GAAP results
- GAAP EPS. GAAP diluted EPS was $0.62, against $1.00 a year earlier.
- Net income. The company reported net income of $68.1 million on a GAAP basis, compared with net income of $103.4 million a year earlier.
Track record
- EPS record. Adjusted EPS beat the estimate in 7 of the last 8 reports, including this one.
- Revenue record. Revenue beat the estimate in 6 of the last 8 reports.
- Revenue trend. Revenue over the last 5 reports, oldest first: $116.2 million, $137.5 million, $124.4 million, $124.7 million and $132.2 million.
What to watch
- Next-quarter estimates. Consensus calls for EPS of $0.47 and revenue of $132.1 million next quarter, based on 2 analysts.
- Revenue growth. Whether revenue keeps growing from a year earlier after this quarter's 14% increase to $132.2 million.
- Estimate record. Whether Terreno Realty extends a record of beating EPS estimates in 7 of its last 8 reports.
- Related coverage. See our reports on Revolution Medicines, Inc. Warrant, Pan American Silver, Liberty Latin America and Comstock Resources.
Sources: Results are from Terreno Realty's Nov. 4, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from Terreno Realty's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.
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