SL Green Realty Corp. (NYSE:SLG) Q1 2026 Earnings: Revenue Beats, Earnings Miss Amidst Manhattan Commercial Real Estate Trends

Font: Financial Modeling Prep  • Apr 16, 2026

• Revenue Growth: SL Green Realty Corp. (NYSE:SLG) reported $166 million in revenue, surpassing analyst estimates and marking a 14.9% year-over-year increase.
• Earnings Miss: Despite strong revenue, the company recorded a net loss of -$1.20 per share, wider than the estimated -$0.76 per share.
• FFO Decline: Funds from Operations (FFO) came in at $0.84 per share, falling short of the $1.06 Zacks Consensus Estimate and significantly lower than the prior year.

SL Green Realty Corp. (NYSE:SLG) is a real estate investment trust, or REIT, that focuses on owning, managing, and developing office buildings in Manhattan. As one of New York City's largest commercial landlords, its financial results offer insight into the health of the city's commercial real estate market.

On April 15, 2026, SL Green Realty Corp. announced its quarterly financial results. The company reported revenue of $166 million, which came in above the analyst estimate of $161.54 million. This revenue figure also marks a 14.9% increase compared to the $144.52 million reported in the same quarter of the previous year.

While revenue was strong, the company's earnings did not meet market expectations. SL Green Realty Corp. reported a net loss per share of -$1.20. This was a larger loss than the estimated -$0.76 per share that analysts had predicted. As highlighted by GlobeNewswire, this also represents a wider loss than the -$0.30 per share from the first quarter of 2025.

For REITs, Funds from Operations (FFO) is a key metric that adjusts net income for things like property depreciation. SL Green Realty Corp.’s FFO was $0.84 per share, which missed the Zacks Consensus Estimate of $1.06 per share. This was also a significant decrease from the $1.40 per share FFO reported in the same quarter a year prior.

The company's financial standing includes a negative price-to-earnings (P/E) ratio of -35.05, indicating it had a net loss over the past year. Furthermore, its debt-to-equity ratio stands at 2.06, which means the company holds more debt than shareholder equity. This provides a snapshot of its current financial leverage.