First Industrial Realty Trust, Inc. (FR) Earnings History
Steady Earner32 years of earnings data (1994–2025) · Positive but moderate multi-year EPS trajectory
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First Industrial Realty Trust, Inc. (FR) Earnings Overview
As of June 21, 2026, First Industrial Realty Trust, Inc. (FR) reported trailing twelve-month net income of $342M, reflecting -13.8% year-over-year growth. The company earned $2.58 per diluted share over the past four quarters, with a net profit margin of 34.0%.
Looking at the long-term picture, FR's 5-year EPS compound annual growth rate (CAGR) stands at +4.1%, reflecting modest earnings expansion. The company achieved its highest annual net income of $359M in fiscal 2022.
First Industrial Realty Trust, Inc. maintains industry-leading profitability with a gross margin of 22.6%, operating margin of 42.3%, and net margin of 34.0%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including PLD ($3.33B net income, 38.8% margin), EGP ($293M net income, 35.7% margin), REXR ($212M net income, 21.1% margin), FR has room to improve margins relative to the peer group. Compare FR vs PLD →
FR Earnings vs Peers
Earnings metrics vs comparable public companies
FR Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $247M | -13.9% | $308M | $1.87 | 34.0% | 42.3% |
| 2024 | $287M | +4.6% | $272M | $2.17 | 42.9% | 40.7% |
| 2023 | $275M | -23.5% | $245M | $2.07 | 44.8% | 39.8% |
| 2022 | $359M | +32.5% | $214M | $2.72 | 66.5% | 39.6% |
| 2021 | $271M | +34.4% | $179M | $2.09 | 56.9% | 37.7% |
| 2020 | $202M | -15.6% | $198M | $1.53 | 45.0% | 44.3% |
| 2019 | $239M | +46.3% | $231M | $1.88 | 56.1% | 54.3% |
| 2018 | $163M | -19.0% | $259M | $1.31 | 40.4% | 64.2% |
| 2017 | $201M | +66.2% | $255M | $1.69 | 50.8% | 64.3% |
| 2016 | $121M | +64.3% | $239M | $1.05 | 32.1% | 63.1% |
| 2015 | $74M | +50.3% | $224M | $0.66 | 20.2% | 61.3% |
| 2014 | $49M | +21.8% | $208M | $0.42 | 14.2% | 60.0% |
| 2013 | $40M | +684.2% | $192M | $0.24 | 12.7% | 60.2% |
| 2012 | -$7M | +7.3% | $74M | $-0.24 | -2.3% | 24.0% |
| 2011 | -$7M | +96.3% | $67M | $-0.34 | -2.3% | 21.1% |
| 2010 | -$203M | -1078.0% | $55M | $-3.53 | -70.3% | 19.1% |
| 2009 | -$17M | -143.5% | -$68M | $-0.28 | -4.2% | -16.5% |
| 2008 | $40M | -74.5% | -$98M | $0.50 | 7.5% | -18.7% |
| 2007 | $155M | +38.3% | -$97M | $2.99 | 35.6% | -22.4% |
| 2006 | $112M | +28.7% | -$92M | $2.04 | 28.3% | -23.1% |
| 2005 | $87M | -21.2% | -$71M | $1.80 | 26.8% | -21.7% |
| 2004 | $111M | -2.8% | -$21M | $2.17 | 34.6% | -6.5% |
| 2003 | $114M | -4.9% | $134M | $2.43 | 33.3% | 39.3% |
| 2002 | $120M | -2.2% | $387M | $2.39 | 34.5% | 111.7% |
| 2001 | $122M | +3.8% | $68M | $2.24 | 31.8% | 17.8% |
| 2000 | $118M | -5.5% | $288M | $2.21 | 30.5% | 74.6% |
| 1999 | $125M | +64.7% | $95M | $2.41 | 33.3% | 25.4% |
| 1998 | $76M | +45.8% | $84M | $1.20 | 21.7% | 24.1% |
| 1997 | $52M | +40.0% | $338M | $1.26 | 23.3% | 151.4% |
| 1996 | $37M | +201.6% | $219M | $1.24 | 26.5% | 156.3% |
| 1995 | $12M | +29.5% | $168M | $0.63 | 11.5% | 157.7% |
| 1994 | $10M | - | $71M | $0.51 | 20.4% | 152.6% |
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FR — Frequently Asked Questions
Quick answers to the most common questions about buying FR stock.
What is FR earnings per share (EPS)?
FR trailing twelve-month (TTM) diluted EPS is $2.58, reflecting -13.8% year-over-year growth. The 5-year EPS CAGR is +4.1%. Complete EPS history from 1994 to 2025 is available in the table on this page.
What is First Industrial Realty Trust, Inc.'s net income?
First Industrial Realty Trust, Inc. (FR) trailing twelve-month net income is $342M as of 2025. Earnings declined -13.8% year-over-year. First Industrial Realty Trust, Inc. has been profitable for 13 consecutive years.
Is FR profitable?
Yes, FR is profitable with a TTM net income of $342M and a net profit margin of +34.0%. First Industrial Realty Trust, Inc. has generated profits for 13 consecutive years.
What is FR's earnings growth rate?
FR compound annual EPS growth rates (CAGR): 1-Year: -13.8%, 3-Year: -11.7%, 5-Year: +4.1%, 10-Year: +11.0%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1994 to 2025.
What are FR's profit margins?
First Industrial Realty Trust, Inc. net profit margin is +34.0%, operating margin is +42.3%, and gross margin is +22.6%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +9.0%.
Is FR growing earnings?
FR earnings are declining — EPS fell -13.8% year-over-year. TTM net income dropped to $342M. This contrasts with the 5-year CAGR of +4.1%.
What was FR's best earnings year?
First Industrial Realty Trust, Inc.'s highest annual net income on record is $359M, achieved in fiscal year 2022. Earnings history on this page spans 1994 to 2025 and includes all annual and quarterly figures.
What were FR's earnings last quarter?
FR's most recent reported quarter was Q1 2026. Net income was $143M with diluted EPS of $1.08. For a full breakdown of all quarters, see the quarterly earnings table on this page.