LPA achieved 21.6% revenue growth in 2026Q1 while maintaining a structurally resilient NOI margin of 82.2%, though FFO per share remains volatile at negative $0.24.
| Revenue | 52.69M | 50.13M | 43.86M | 39.44M | 31.98M | 25.6M | 19.08M | 11.13M | 6.67M | 2.88M | 88.75K |
| Revenue Growth % | 16.52% | 14.29% | 11.22% | 23.3% | 24.95% | 34.14% | 71.37% | 66.91% | 132.02% | 3139.72% | - |
| Property Operating Expenses | 8.69M | 9.58M | 6.97M | 5.14M | 5.41M | 4.09M | 0 | 0 | 0 | 0 | 0 |
| Net Operating Income (NOI) | 44M | 40.55M | 36.89M | 34.29M | 26.58M | 21.51M | 19.08M | 11.13M | 6.67M | 2.88M | 88.75K |
| NOI Margin % | 83.51% | 80.89% | 84.1% | 86.96% | 83.09% | 84.03% | 100% | 100% | 100% | 100% | 100% |
| Operating Expenses | 16.31M | 14.98M | 15.63M | 8.41M | 4.88M | 5.39M | 4.46M | 4.34M | 20.77M | 31.27M | 4.34M |
| G&A Expenses | 9.08M | 0 | 15.63M | 8.51M | 4.61M | 5.39M | 4.46M | 4.34M | 3.73M | 3.52M | 4.32M |
| EBITDA | 28.59M | 26.59M | 22.37M | 26.05M | 21.92M | 16.35M | 14.62M | 6.79M | 0 | 0 | 0 |
| EBITDA Margin % | 54.25% | 53.04% | 51.01% | 66.07% | 68.54% | 63.88% | 76.61% | 61.01% | 0% | 0% | 0% |
| Depreciation & Amortization | 897.42K | 1.02M | 1.11M | 167.9K | 228.49K | 236.56K | 0 | 0 | -1.95M | 938.91K | 4.26M |
| D&A / Revenue % | 1.7% | 2.03% | 2.54% | 0.43% | 0.71% | 0.92% | 0% | 0% | -29.16% | 32.66% | 4800.41% |
| Operating Income | 27.69M | 25.57M | 21.26M | 25.89M | 21.69M | 16.11M | 14.62M | 6.79M | 1.95M | -938.91K | -4.26M |
| Operating Margin % | 52.55% | 51.01% | 48.47% | 65.64% | 67.82% | 62.96% | 76.61% | 61.01% | 29.16% | -32.66% | -4800.41% |
| Interest Expense | 4M | 21.17M | 22.54M | 31.11M | 14.11M | 9.8M | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | - | 2.22x | 0.56x | 1.10x | 1.97x | 2.78x | - | - | - | - | - |
| Non-Operating Income | -10.13M | -21.34M | 8.58M | -8.21M | -6.1M | -11.11M | 14.62M | 6.79M | -2.94M | 648.87K | 4.23M |
| Pretax Income | 15.95M | 25.75M | -9.86M | 12.14M | 13.68M | 17.43M | 2.07M | 30.1M | 24.72M | 33.19M | -4.25M |
| Pretax Margin % | 30.28% | 51.37% | -22.49% | 30.78% | 42.76% | 68.08% | 10.87% | 270.3% | 370.56% | 1154.24% | -4790.33% |
| Income Tax | 8.48M | 9.64M | 9.56M | 4.98M | 2.24M | 8.76M | 7.86M | 8.23M | 8.36M | 8.64M | -24.19K |
| Effective Tax Rate % | 53.14% | 37.44% | -96.94% | 41.04% | 16.35% | 50.25% | 379.04% | 27.35% | 33.83% | 26.02% | 0.57% |
| Net Income | 3.32M | 10.5M | -29.29M | 3.14M | 8.03M | 4.13M | -6.09M | 22.01M | 12.85M | 24.55M | -4.23M |
| Net Margin % | 6.3% | 20.94% | -66.77% | 7.96% | 25.1% | 16.12% | -31.92% | 197.71% | 192.64% | 853.88% | -4763.07% |
| Net Income Growth % | -81.57% | 135.84% | -1032.86% | -60.9% | 94.56% | 167.74% | -127.67% | 71.3% | -47.66% | 680.79% | - |
| Funds From Operations (FFO) | 4.22M | 11.51M | -28.17M | 3.31M | 8.26M | 4.36M | -5.89M | 22.19M | 10.91M | 25.49M | 33.13K |
| FFO Margin % | 8% | 22.97% | -64.23% | 8.39% | 25.82% | 17.05% | -30.84% | 199.25% | 163.48% | 886.54% | 37.34% |
| FFO Growth % | -1949.66% | 140.87% | -951.86% | -59.95% | 89.25% | 174.14% | -126.53% | 103.43% | -57.22% | 76827.43% | - |
| FFO per Share | 0.13 | 0.36 | -0.91 | 0.02 | 0.05 | 0.03 | -0.04 | 0.13 | 0.06 | 0.15 | 0.00 |
| FFO Payout Ratio % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| EPS (Diluted) | 0.11 | 0.33 | -0.94 | 0.02 | 0.05 | 0.02 | -0.04 | 0.13 | 0.08 | 0.15 | -0.03 |
| EPS Growth % | -81.73% | 135.11% | -5126.74% | -60.8% | 94.69% | 167.68% | -127.85% | 70.16% | -49.07% | 696.88% | - |
| EPS (Basic) | - | 0.33 | -0.94 | 0.02 | 0.05 | 0.02 | -0.04 | 0.13 | 0.08 | 0.15 | -0.03 |
| Diluted Shares Outstanding | 31.62M | 31.74M | 31M | 168.14M | 168.14M | 168.14M | 168.14M | 168.21M | 168.21M | 168.21M | 168.21M |
Regional Political Volatility
As reported in financial statements, LPA achieved a 21.6% revenue growth in 2026Q1, reflecting the successful integration of new leasable area into the portfolio, though the sustainability of this trajectory remains contingent upon the company's ability to maintain high occupancy levels across its specialized logistics assets.
The double-digit revenue growth suggests that the company is effectively executing its development pipeline, likely capturing demand from nearshoring trends in the Andean region. However, investors should monitor whether this top-line expansion is translating into stabilized property-level income or if it is being offset by the initial costs of bringing new facilities to market.
According to recent SEC filings, LPA maintained an NOI margin of 82.2% in 2026Q1, which underscores the high-margin nature of its triple-net lease structure despite the inherent operational complexities of managing industrial infrastructure across diverse Latin American jurisdictions.
The consistency of these margins suggests that the company has successfully passed through property-level expenses to tenants, preserving the core profitability of its assets. This high margin profile appears to be a key differentiator, though it warrants further investigation into whether future inflationary pressures on maintenance and security costs could compress these levels.
Based on LPA's reported figures, FFO per share experienced significant swings, including a negative $0.24 in 2026Q1, which suggests that non-recurring items or accounting adjustments are currently obscuring the underlying cash-generating capacity of the REIT's industrial portfolio.
The erratic nature of FFO suggests that investors should look past headline figures to understand the impact of recent public market transition costs and potential non-cash revaluations. The lack of consistent FFO growth indicates that the company is still in a phase of operational stabilization following its recent business combination.
As indicated by the financial data, the frequent oscillation between positive and negative FFO suggests that LPA's earnings quality is currently strained, potentially due to the aggressive capitalization of costs or the impact of currency fluctuations on its USD-denominated lease portfolio.
The sharp divergence between high NOI margins and volatile FFO results warrants further investigation into the company's G&A load and non-operating expenses. It appears that the transition to a public entity has introduced significant overhead that may continue to weigh on bottom-line performance until the portfolio reaches a larger scale.
Quick answers to the most common questions about buying LPA stock.
For fiscal year 2025, Logistic Properties of the Americas (LPA) reported total revenue of $50.1M. This represents a 56385.8% increase compared to $0.1M in 2016.
Logistic Properties of the Americas (LPA) is profitable, generating $10.5M in net income for the fiscal year ending 2025 with a net profit margin of 20.9%.
Logistic Properties of the Americas (LPA) reported an operating income of $25.6M, resulting in an operating profit margin of 51.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Logistic Properties of the Americas (LPA) generated $40.6M in gross profit for the year, representing a gross profit margin of 80.9%. This demonstrates the company's core pricing power and production efficiency.