Camden Property Trust (CPT) Q1 FY2026 earnings: revenue $389 million, down 0.5% on the year

Camden Property Trust (CPT) reported revenue of $389 million for Q1 FY2026, the quarter ended 31 March 2026, down 0.5% on the same quarter a year earlier. Net income was $42 million, up 9.3% on the year, and diluted earnings per share $0.40. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2026.

Revenue

$389 million

-0.5% on the year · -0.5% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

64.0%

64.3% a year earlier

Q2 FY2024Q1 FY2026

Net income

$42 million

+9.3% on the year · -72.8% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$0.40

+11.1% on the year · -72.2% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 1 lowered, 3 new, 4 kept.

Per-share results against first quarter guidance: Diluted EPS was $0.40 against a $0.24 guidance midpoint, FFO $1.15 against $1.63, and Core FFO $1.70 against $1.66. EPS and FFO included litigation charges and a property gain.
Same property NOI fell 0.7%: Same property revenues rose 0.2% year over year and expenses rose 1.9%, so NOI fell 0.7%. Sequentially, revenues rose 0.1%, expenses 2.1% and NOI fell 1.0%.
New lease rates down 5.2%: Effective new lease rates were down 5.2%, against down 3.1% a year earlier and down 5.3% in the fourth quarter. Effective renewal rates were up 2.9%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	389	391	391	-0.5%	-0.5%
Operating income	249	n/a	251		-1.0%
Operating margin	64.0%	n/a	64.3%
Interest expense	37.4	34.1	33.8	+9.6%	+10.6%
Net income	42.4	156	38.8	-72.8%	+9.3%
Net margin	10.9%	39.9%	9.9%
Diluted EPS	$0.40	$1.44	$0.36	-72.2%	+11.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	148	197	148	-24.7%	-0.1%
Capital expenditure	94.0	1.0	78.4	+9,583.1%	+19.9%
Free cash flow	54.1	196	69.8	-72.4%	-22.5%
Free cash flow margin	13.9%	50.1%	17.9%
Cash from investing	-20.0	-21.0	-276
Cash from financing	-35.0	-176	133
Depreciation and amortisation	150	150	149	-0.1%	+0.5%
Share-based compensation	4.1	4.2	4.1	-4.5%	-0.1%
Buybacks	263	221	0.0	+19.1%
Dividends paid	115	115	114	-0.5%	+1.2%
Dividend per share	$1.06	n/a	$1.05		+1.0%
Diluted shares, weighted	105m	109m	109m	-3.4%	-3.4%
Shares outstanding at period end	102m	104m	107m	-2.3%	-4.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	4,029	4,363	4,615	-7.6%	-12.7%
Non-controlling interest	76.0	75.7	72.3	+0.3%	+5.1%
Debt	4,250	3,901	3,736	+9.0%	+13.8%
Other liabilities	704	704	570	+0.0%	+23.5%
Total liabilities and equity	9,060	9,043	8,993	+0.2%	+0.7%
Cash and equivalents	40.7	25.2	26.2	+61.4%	+55.4%
Other assets	9,019	9,018	8,967	+0.0%	+0.6%
Total assets	9,060	9,043	8,993	+0.2%	+0.7%

Questions

What was Camden Property Trust's revenue in Q1 FY2026?

Camden Property Trust (CPT) reported revenue of $389 million for Q1 FY2026, the quarter ended 31 March 2026, down 0.5% on the same quarter a year earlier.

How much did Camden Property Trust earn in Q1 FY2026?

Net income for Q1 FY2026 was $42 million, up 9.3% on the year, and diluted earnings per share $0.40.

When did Camden Property Trust report Q1 FY2026 results?

Camden Property Trust filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 1 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	305	311	362	374	376	378	385	391	388	383	387	387	386	391	397	396	391	389	393	381
Operating income	n/a	201	234	241	n/a	243	248	251	n/a	245	248	244	n/a	251	253	250	n/a	249	252	240
Operating margin	n/a	65%	65%	64%	n/a	64%	64%	64%	n/a	64%	64%	63%	n/a	64%	64%	63%	n/a	64%	64%	63%
Interest expense	24.6	24.5	29.0	29.2	30.7	32.8	33.6	33.0	34.0	32.5	32.2	32.5	32.6	33.8	35.4	35.0	34.1	37.4	41.4	41.0
Net income	213	80.7	497	29.8	45.7	41.9	91.1	48.0	222	83.9	42.9	-4.2	40.7	38.8	80.7	109	156	42.4	18.8	900
Net margin	70%	26%	137%	8%	12%	11%	24%	12%	57%	22%	11%	-1%	11%	10%	20%	28%	40%	11%	5%	236%
Diluted EPS	$2.06	$0.76	$4.54	$0.27	$0.42	$0.39	$0.84	$0.44	$2.03	$0.77	$0.40	-$0.04	$0.37	$0.36	$0.74	$1.00	$1.44	$0.40	$0.18	$8.71
Operating cash flow	141	122	208	246	168	140	227	236	192	136	225	262	152	148	231	251	197	148	212	156
Capital expenditure	n/a	90.5	160	91.5	0.5	91.9	104	98.0	0.7	106	104	96.1	n/a	78.4	117	115	1.0	94.0	146	122
Free cash flow	n/a	31.8	47.9	154	168	47.8	123	138	191	29.8	121	165	n/a	69.8	114	136	196	54.1	65.7	34.2
Buybacks	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	0.0	45.7	4.3	0.0	0.0	0.0	0.0	50.0	221	263	170	50.0
Dividends paid	87.9	88.8	101	104	104	104	110	110	110	110	114	114	114	114	116	116	115	115	112	110
Shares outstanding	103m	104m	106m	106m	106m	107m	107m	107m	107m	107m	107m	107m	107m	107m	107m	106m	104m	102m	100m	100m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 1 May 2026: the filing.