First Industrial Realty Trust, Inc. (FR) Earnings History
Annual and quarterly earnings data from 1994 to 2025
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FR EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
FR Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 22.6% | 42.3% | 34.0% |
| 2024 | 72.7% | 40.7% | 42.9% |
| 2023 | 73.0% | 39.8% | 44.8% |
| 2022 | 73.4% | 39.6% | 66.5% |
| 2021 | 72.4% | 37.7% | 56.9% |
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First Industrial Realty Trust, Inc. (FR) Earnings Overview
As of May 6, 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 ($3.21B net income, 45.5% 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% |
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Start ComparisonFR — Frequently Asked Questions
Quick answers to the most common questions about buying FR stock.
Is FR growing earnings?
FR EPS fell to $2.58, with earnings declining -13.8%. This contrasts with the 5-year CAGR of +4.1%. TTM net income dropped to $342M.
What are FR's profit margins?
First Industrial Realty Trust, Inc. net margin is +34.0%, with operating margin at +42.3%. Above-average margins indicate pricing power.
How consistent are FR's earnings?
FR earnings data spans 1994-2025. The declining earnings trend is -13.8% YoY. Historical data enables comparison across business cycles.