Guidance+1
Current guidance was classified as raised.
Low confidenceEarnings thesis change · rubric v1.0
O REALTY INCOME CORP
Fiscal Q3 FY2026 · quarter ended September 30, 2026 · reported 2026-11-02
SEC filings and exhibits only
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Nov 2, 2026 at 9:17 PM UTC
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Nov 2, 2026 at 9:17 PM UTC
ACCOUNTING RISK · CLEAR
No auditor changes, restatements, late filings, or listing notices in the last 12 months.
from SEC filings · 2026-10-09
Thesis change
Strengthened
Legacy analysis
Legacy analysis: only the dimensions classifiable by the pre-v1 pipeline are shown.
- Legacy analysis: scored by the pre-v1 pipeline; deep evidence has not been re-verified.
- 5 thesis dimension(s) lack comparable evidence
Reported facts
GAAP facts are reported by the company. Comparable figures are EarnIQ arithmetic using only quantified adjustments disclosed in the linked SEC exhibit.
Reported EPS and revenue have not yet been extracted from the filing.
1. Three decisive changes
Largest quantified changes versus the company's own history.
+12.1%
Revenue — year over year
$1.5B vs $1.4B a year ago · quarter ended Jun 30, 2026 · from 10-Q XBRL filings.
2. Was it already expected?
Consensus classifications require timestamped pre-report snapshots and eight-quarter surprise history.
| Item | Actual | Expected | Gap | Class |
|---|---|---|---|---|
| Consensus comparison coming soon. | ||||
3. Management consistency
Only attributable, measurable and dated commitments are counted. Delivery record: 2 being tracked.
| Promise | Target | Outcome | Status | Evidence |
|---|---|---|---|---|
| reaffirming our $10.0 billion investment volume targetacquisition · made 2026-11-02 | $10.0 billionFY2026 | — | Pending | 8-K 0000726728-26-0000 |
| raising our 2026 AFFO per share guidance to $4.45–$4.46other · made 2026-11-02 | $4.45–$4.46FY2026 | — | Pending | 8-K 0000726728-26-0000 |
4. What matters next
One deciding measurable condition plus up to two supporting checkpoints.
No source-backed deciding threshold is available yet.
Management raised 2026 AFFO per share guidance to $4.45-$4.46 while reaffirming the $10.0 billion investment volume target.
5. Risks that changed
New or materially worsened items only; unchanged boilerplate is omitted.
No new or materially worsened risk has been source-verified.
From 10-K filings · EDGAR
0
new risk disclosures added
35
old ones removed
FY2025 10-K vs prior year, boilerplate filtered out — these are idiosyncratic changes, and tone is slightly more negative.
6. Evidence drawer
Source location, short anchor and visible arithmetic for every verified claim.
DC1 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Revenue · quarter ended 2026-06-30Revenue: +12.1% year over year
(1,547,711,000 − 1,380,505,000) ÷ 1,380,505,000 = +12.1% YoY