AI Earnings Predictions for Saul Centers Inc. (BFS)

EX-99.1

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EX-99.1

Document

Exhibit 99.1

SAUL CENTERS, INC.

7501 Wisconsin Avenue, Suite 1500E, Bethesda, Maryland 20814-6522

(301) 986-6200

Saul Centers, Inc. Reports Third Quarter 2026 Earnings

November 5, 2026, Bethesda, MD.

Saul Centers, Inc. (NYSE: BFS) (the "Company"), an equity real estate investment trust ("REIT"), announced operating results for the quarter ended September 30, 2026 ("2026 Quarter"). Total revenue for the 2026 Quarter increased to $78.4 million from $72.0 million for the quarter ended September 30, 2025 ("2025 Quarter"). Net income decreased to $12.6 million for the 2026 Quarter from $14.0 million for the 2025 Quarter.

During the 2026 Quarter, the Company continued to lease residential units at Hampden House. As of November 2, 2026, 267 (73.0%) of the 366 residential units were leased and occupied and 100% of the retail space was leased. Concurrent with the opening of Hampden House on October 1, 2025, interest, real estate taxes, depreciation and all other costs associated with the residential portion and the majority of the retail portion of the property began to be charged to expense, while revenue continues to grow as occupancy increases. As a result, compared to the 2025 Quarter, net income for the 2026 Quarter was adversely impacted by $3.7 million due to the initial operations of Hampden House, of which $2.9 million is related to interest expense, net. Exclusive of Hampden House, net income increased by $2.3 million primarily due to higher commercial base rent of $2.0 million. Net income available to common stockholders decreased to $6.7 million, or $0.27 per basic and diluted share, for the 2026 Quarter from $7.7 million, or $0.32 per basic and diluted share, for the 2025 Quarter. Compared to the 2025 Quarter, net income available to common stockholders for the 2026 Quarter was adversely impacted by $1.6 million, or $0.07 per basic and diluted share, due to the initial operations of Hampden House.

Same property revenue increased $3.5 million, or 4.9%, and same property net operating income increased $2.5 million, or 5.0%, for the 2026 Quarter compared to the 2025 Quarter. Same property revenue was favorably impacted by $1.2 million due to the lease up of Twinbrook Quarter Phase I. Exclusive of Twinbrook Quarter Phase I, same property revenue increased $2.3 million primarily due to (a) higher commercial base rent of $1.2 million and (b) higher expense recoveries of $0.7 million. Same property net operating income was favorably impacted by $1.1 million due to the lease up of Twinbrook Quarter Phase I. Exclusive of Twinbrook Quarter Phase I, same property net operating income increased $1.4 million primarily due to higher commercial base rent of $1.2 million. Shopping Center same property net operating income for the 2026 Quarter totaled $37.4 million, a 4.6% increase compared to the 2025 Quarter. Shopping Center same property net operating income increased primarily due to (a) higher base rent of $1.3 million and (b) lower credit losses on operating lease receivables, net, of $0.4 million. Mixed-Use same property net operating income for the 2026 Quarter totaled $14.9 million, a 6.1% increase compared to the 2025 Quarter. Mixed-Use same property net operating income increased primarily due to the lease up of Twinbrook Quarter Phase I of $1.1 million. Exclusive of Twinbrook Quarter Phase I, Mixed-Use same property net operating income decreased $0.2 million primarily due to lower expense recoveries, net of expenses, of $0.2 million. One property, Hampden House, which commenced operations on October 1, 2025, was excluded from same property results. Reconciliations of (a) total revenue to same property revenue and (b) net income to same property net operating income are attached to this press release.

Same property revenue and same property net operating income are non-GAAP financial measures of performance that management believes improve the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods. We define same property revenue as total revenue less straight-line base rent and amortization of above/below market premiums and discounts related to leases acquired in connection with purchased real estate investment properties minus the revenue of properties not in operation for the entirety of the comparable reporting periods. We define same property net operating income as net income plus (a) interest expense, net, (b) depreciation and amortization, (c) general and administrative expenses, (d) change in fair value of derivatives and (e) loss on the early extinguishment of debt minus (f) gains on property dispositions, (g) straight-line base rent, (h) amortization of above/below market premiums and discounts related to leases acquired in connection with purchased real estate investment properties and (i) the net operating income of properties that

EX-99.1

2 bfs-06302026xex991.htm

EX-99.1

Document

Exhibit 99.1

SAUL CENTERS, INC.

7501 Wisconsin Avenue, Suite 1500E, Bethesda, Maryland 20814-6522

(301) 986-6200

Saul Centers, Inc. Reports Second Quarter 2026 Earnings

August 6, 2026, Bethesda, MD.

Saul Centers, Inc. (NYSE: BFS) (the "Company"), an equity real estate investment trust ("REIT"), announced operating results for the quarter ended June 30, 2026 ("2026 Quarter"). Total revenue for the 2026 Quarter increased to $76.8 million from $70.8 million for the quarter ended June 30, 2025 ("2025 Quarter"). Net income decreased to $11.5 million for the 2026 Quarter from $14.2 million for the 2025 Quarter. During the 2026 Quarter, the Company continued to lease residential units at Hampden House. As of August 3, 2026, 235 of the 366 (64.2%) residential units were leased and occupied and 8,600 square feet of the 10,100 (85.1%) square feet of retail space is leased and occupied.

Concurrent with the opening of Hampden House on October 1, 2025, interest, real estate taxes, depreciation and all other costs associated with the residential portion and the majority of the retail portion of the property began to be charged to expense, while revenue continues to grow as occupancy increases. As a result, compared to the 2025 Quarter, net income for the 2026 Quarter was adversely impacted by $4.0 million due to the initial operations of Hampden House, of which $2.9 million is related to interest expense, net and amortization of deferred debt costs. Exclusive of Hampden House, net income increased by $1.3 million primarily due to (a) higher residential base rent of $1.4 million and (b) higher commercial base rent of $1.2 million partially offset by (c) higher general and administrative costs of $0.4 million, (d) higher interest expense, net and amortization of deferred debt costs of $0.3 million and (e) higher depreciation and amortization of deferred leasing costs of $0.3 million. Net income available to common stockholders decreased to $6.0 million, or $0.24 per basic and diluted share, for the 2026 Quarter from $7.9 million, or $0.33 per basic and diluted share, for the 2025 Quarter. Compared to the 2025 Quarter, net income available to common stockholders for the 2026 Quarter was adversely impacted by $1.9 million, or $0.08 per basic and diluted share, due to the initial operations of Hampden House.

Same property revenue increased $4.7 million, or 6.9%, and same property net operating income increased $3.4 million, or 6.9%, for the 2026 Quarter compared to the 2025 Quarter. Same property revenue was favorably impacted by $2.7 million due to the lease up of Twinbrook Quarter Phase I. Exclusive of Twinbrook Quarter Phase I, same property revenue increased $2.0 million primarily due to (a) higher commercial base rent of $1.3 million and (b) higher expense recoveries of $0.9 million. Same property net operating income was favorably impacted by $2.5 million due to the lease up of Twinbrook Quarter Phase I. Exclusive of Twinbrook Quarter Phase I, same property net operating income increased $0.9 million, primarily due to (a) higher commercial base rent of $1.3 million partially offset by (b) lower expense recoveries, net of expenses, of $0.4 million. Shopping Center same property net operating income for the 2026 Quarter totaled $36.6 million, a 3.6% increase compared to the 2025 Quarter. Shopping Center same property net operating income increased primarily due to higher base rent of $1.2 million. Mixed-Use same property net operating income for the 2026 Quarter totaled $15.5 million, a 15.7% increase compared to the 2025 Quarter. Mixed-Use same property net operating income increased primarily due to the lease up of Twinbrook Quarter Phase I of $2.5 million. Exclusive of Twinbrook Quarter Phase I, Mixed-Use same property net operating income decreased by $0.4 million primarily due to lower expense recoveries, net of expenses, of $0.3 million. One property, Hampden House, which commenced operations on October 1, 2025, was excluded from same property results. Reconciliations of (a) total revenue to same property revenue and (b) net income to same property net operating income are attached to this press release.

www.SaulCenters.com

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Same property revenue and same property net operating income are non-GAAP financial measures of performance that management believes improve the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods. We define same property revenue as total revenue less straight-line base rent and amortization of above/below market premiums and discounts related to leases acquired in connection with purchased real estate investment properties minus the revenue of properties not in operation for the entirety of the comparable reporting periods. We define same property net operating income as net income plus (a) interest expense, net and amortizatio

EX-99.1

2 bfs-03312026xex991.htm

EX-99.1

Document

Exhibit 99.1

SAUL CENTERS, INC.

7501 Wisconsin Avenue, Suite 1500E, Bethesda, Maryland 20814-6522

(301) 986-6200

Saul Centers, Inc. Reports First Quarter 2026 Earnings

May 7, 2026, Bethesda, MD.

Saul Centers, Inc. (NYSE: BFS) (the "Company"), an equity real estate investment trust ("REIT"), announced operating results for the quarter ended March 31, 2026 ("2026 Quarter"). Total revenue for the 2026 Quarter increased to $78.3 million from $71.9 million for the quarter ended March 31, 2025 ("2025 Quarter"). Net income decreased to $12.0 million for the 2026 Quarter from $12.8 million for the 2025 Quarter. On October 1, 2025, the Company opened Hampden House, comprised of 366 apartment units and approximately 10,100 square feet of retail space adjacent to the Bethesda Metro Station in Bethesda, Maryland. As of May 4, 2026, 167 of the 366 (45.6%) residential units were leased and occupied. Visual Comfort & Co. opened for business on March 9, 2026. As of May 4, 2026, including Visual Comfort & Co., approximately 8,600 square feet of the approximately 10,100 (85.1%) square feet of retail space have been leased and the remaining tenant build-out is in progress.

Concurrent with the opening of Hampden House on October 1, 2025, interest, real estate taxes, depreciation and all other costs associated with the residential portion and the majority of the retail portion of the property began to be charged to expense, while revenue continues to grow as occupancy increases. As a result, compared to the 2025 Quarter, net income for the 2026 Quarter was adversely impacted by $4.8 million, of which $2.8 million was a reduction in capitalized interest, due to the initial operations of Hampden House. Exclusive of Hampden House, net income increased by $4.0 million primarily due to (a) higher residential base rent of $2.1 million, (b) higher commercial base rent of $1.5 million and (c) lower credit losses on operating lease receivables, net, of $0.3 million. Net income available to common stockholders decreased to $6.3 million, or $0.26 per basic and diluted share, for the 2026 Quarter from $7.0 million, or $0.29 per basic and diluted share, for the 2025 Quarter. Compared to the 2025 Quarter, net income available to common stockholders for the 2026 Quarter was adversely impacted by $1.7 million, or $0.07 per basic and diluted share, due to the initial operations of Hampden House.

Same property revenue increased $5.1 million, or 7.4%, and same property net operating income increased $4.3 million, or 9.0%, for the 2026 Quarter compared to the 2025 Quarter. Same property revenue was favorably impacted by $3.2 million due to the lease up of Twinbrook Quarter Phase I. Exclusive of Twinbrook Quarter Phase I, same property revenue increased $1.9 million, or 2.8%, primarily due to (a) higher commercial base rent of $0.8 million, (b) higher expense recoveries of $0.7 million and (c) lower credit losses on operating lease receivables, net of $0.3 million. Exclusive of Twinbrook Quarter Phase I, same property net operating income increased $1.2 million, or 2.5%, primarily due to (a) higher base rent of $1.0 million and (b) lower credit losses on operating lease receivables, net, of $0.3 million. Shopping Center same property net operating income for the 2026 Quarter totaled $36.5 million, a 3.4% increase compared to the 2025 Quarter. Shopping Center same property net operating income increased primarily due to (a) higher base rent of $0.9 million and (b) lower credit losses on operating lease receivables, net, of $0.4 million. Mixed-Use same property net operating income for the 2026 Quarter totaled $15.6 million, a 24.9% increase compared to the 2025 Quarter. Mixed-Use same property net operating income increased primarily due to the lease up of Twinbrook Quarter Phase I of $3.1 million. Exclusive of Twinbrook Quarter Phase I, Mixed-Use same property net operating income was unchanged at $12.7 million. One property, Hampden House, was excluded from same property results. Reconciliations of (a) total revenue to same property revenue and (b) net income to same property net operating income are attached to this press release.

Same property revenue and same property net operating income are non-GAAP financial measures of performance that management believes improve the comparability of reporting periods by excluding the results of properties that were not in operation for the entirety of the comparable reporting periods. We define same property revenue as total revenue less straight-line base rent and amortization of above/below market premiums and discounts related to leases acquired in connection with purchased real estate investment properties minus the revenue of properties not in operation for the entirety of the comparable reporting periods, and we define same property net operating income as net income plus (a) interest expense, net and amortization of deferred debt costs