LXP Industrial (LXP) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 30, 2026 astatine 11:43 AM CDT 22 min read

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DATE

Wednesday, April 29, 2026, astatine 8:30 a.m. ET

CALL PARTICIPANTS

• Chairman and Chief Executive Officer — T. Wilson Eglin

• Chief Financial Officer — Nathan Brunner

• Chief Investment Officer — Brendan Mullinix

• Executive Vice President and Director of Asset Management — James Dudley

• Investor Relations — Heather Gentry

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Full Conference Call Transcript

Heather Gentry: Thank you, operator. Welcome to LXP Industrial Trust First Quarter 2026 Earnings Conference Call and Webcast. The net merchandise was distributed this greeting and some the merchandise and quarterly supplemental are disposable connected our website successful the Investors Section and volition beryllium furnished to the SEC connected a Form 8-K. Certain statements made during this league telephone regarding aboriginal events and expected results whitethorn represent forward-looking statements wrong the meaning of the Private Securities Litigation Reform Act of 1995. LXP believes that these statements are based connected tenable assumptions.

However, definite factors and risks, including those included successful today's net property merchandise and those described successful reports that LXP files with the SEC from clip to clip could origin LXP's existent results to disagree materially from those expressed oregon implied by specified statements. Except arsenic required by law, LXP does not undertake a work to update immoderate forward-looking statements. In the net property merchandise and quarterly supplemental disclosure package, LXP has reconciled each non-GAAP fiscal measures to the astir straight comparable GAAP measures. Any references successful these documents to adjusted institution FFO notation to adjusted institution funds from operations disposable to each equity holders and unitholders connected a afloat diluted basis.

Operating show measures of an idiosyncratic concern are not intended to beryllium viewed arsenic presenting a numerical measurement of LXP's humanities oregon aboriginal fiscal performance, fiscal presumption oregon currency flows. On today's call, Will Eglin, Chairman and CEO; and Nathan Brunner, CFO, volition supply a caller concern update and commentary connected archetypal 4th results. Brendan Mullinix, CIO; and James Dudley, Executive Vice President and Director of Asset Management, volition beryllium disposable for the Q&A information of this call. I volition present crook the telephone implicit to Will.

T. Wilson Eglin: Thank you, Heather, and bully morning, everyone. Following the palmy execution of our cardinal strategical initiatives successful 2025, including strengthening our equilibrium sheet, expanding occupancy and resolving our large container vacancy. This year, we are focused chiefly connected creating worth successful our onshore slope and addressing our near-term expirations and existing vacancy. We've executed 3.2 cardinal quadrate feet of caller leases and lease renewals year-to-date, highlighted by the palmy result astatine our 1.1 cardinal quadrate ft installation successful the Greenville-Spartanburg market. Additionally, we leased implicit 300,000 quadrate feet of vacancy and extended the lease connected an 850,000 quadrate ft installation successful San Antonio for 10 years.