Phillips Edison & Company, Inc. (PECO) SEC Filings & Earnings Calls

Market conditions and assumptions may affect guidance achievement.

“Forward-looking statements about market conditions and assumptions.”

Dilution risk from ATM program.

“ATM program allows issuance of common stock at market prices.”

Interest Rate Volatility

“Interest rate volatility may affect acquisition activity, redevelopment yields, and capital-market execution.” · word for word

Tenant Bankruptcy Risk

“ongoing retailer rationalization, including periodic bankruptcy filings and strategic store closures, may create near-term downtime” · word for word

Consumer Spending Slowdown

“pressure on lower-income shoppers and any broader economic slowdown could impact retailer sales performance and, in turn, leasing decisions.” · word for word

Tariff Uncertainty

“Regulatory and executive decisions regarding tariffs have created incremental uncertainty around sourcing and input costs for certain tenants” · word for word

Interest rate volatility affecting acquisition and redevelopment yields

“Interest rate volatility may affect acquisition activity, redevelopment yields, and capital-market execution.” · word for word

Tariff uncertainty on tenant input costs

“Regulatory and executive decisions regarding tariffs have created incremental uncertainty around sourcing and input costs for certain tenants, though to date we have observed minimal disruption to leasing activity or rent‑collection trends.” · word for word

Retailer rationalization and bankruptcy risk

“ongoing retailer rationalization, including periodic bankruptcy filings and strategic store closures, may create near-term downtime but also provide opportunities to re‑lease space at higher rents.” · word for word

Pressure on lower-income consumers

“pressure on lower-income shoppers and any broader economic slowdown could impact retailer sales performance and, in turn, leasing decisions.” · word for word

Macroeconomic uncertainty could impact consumer demand

“While the macroeconomic environment remains uncertain, PECO is positioned to provide both stability and continued growth.” · word for word

Concentration in grocery-anchored retail

“Our portfolio primarily consists of high‑quality, neighborhood shopping centers anchored by the #1 or #2 grocer by sales within their respective formats and trade areas.” · word for word

Interest rate sensitivity

“Interest expense, net $ 110,338 (in thousands) for FY2025, up from $96,990 in FY2024.”

Increased leverage from new debt issuance may pressure credit metrics.

“Issuance of $346.5M in notes increases total debt.”

Interest Rate Sensitivity

“Weighted-average interest rate increased to 4.5% from 4.3%”

Occupancy Decline

“Leased occupancy declined to 97.6% from 97.8%”

Occupancy slightly declined from 97.7% to 97.3% year-over-year, though still high.

“Leased portfolio occupancy remained high at 97.3% at December 31, 2025, compared to 97.7% at December 31, 2024.” · word for word

Interest expense guidance increased for 2026 ($117M-$127M vs $110M-$112M in 2025), indicating higher financing costs.

“Interest expense, net: 2025 Updated $110,000 - $112,000; 2026 Preliminary $117,000 - $127,000 (in thousands).”

Interest Rate Exposure

“Interest Expense, Net increased $3.5 million primarily due to increased debt outstanding in 2025.”

Inflation and Tariff Risk

“elevated inflation rates, including their impact on operating and construction costs, may nevertheless negatively impact us and some of our Neighbors.” · word for word