8-KEarnings & ResultsRegulation FDExhibits & Filings

SIMON PROPERTY GROUP INC. 8-K Report, Financial Results (May 11, 2026)

Filed May 11, 2026For Securities:SPGSPG-PJ

Summary

Simon Property Group, Inc. (SPG) has filed an 8-K report on May 11, 2026, announcing its first-quarter 2026 financial and operating results. The filing includes a press release with key performance metrics and supplemental information that is furnished, not filed, with the SEC. Investors should note that the press release contains non-GAAP financial measures, which are standard within the REIT industry and are provided to offer additional insights into the company's operational performance and comparability with peers. While the 8-K itself does not contain financial statements, it directs investors to the furnished press release (Exhibit 99.1) for detailed results. The company emphasizes that these non-GAAP measures, such as Funds from Operations (FFO) and Net Operating Income (NOI), should be considered alongside, and not as a replacement for, GAAP-based measures like net income and cash flows. Reconciliations to the most directly comparable GAAP measures are available within the provided exhibit, offering a comprehensive view for analysis.

Key Highlights

  • 1SPG filed an 8-K on May 11, 2026, to report Q1 2026 earnings and other matters.
  • 2The report furnishes a press release (Exhibit 99.1) containing Q1 2026 financial and operating results.
  • 3Key non-GAAP financial measures discussed include Funds from Operations (FFO), FFO per share, Real Estate FFO, Real Estate FFO per share, funds available for distribution, Net Operating Income (NOI), domestic property NOI, and portfolio NOI.
  • 4The company states that FFO and NOI are standard REIT performance measures used to provide investors with additional insights and a basis for comparison with other REITs.
  • 5These non-GAAP measures are used internally by SPG to monitor portfolio performance.
  • 6Reconciliations of non-GAAP measures to their most directly comparable GAAP measures are included in the furnished exhibit.
  • 7The information furnished is not being filed for purposes of Section 18 of the Exchange Act and will not be incorporated into other SEC filings.

Frequently Asked Questions

This 8-K filing primarily references non-GAAP financial measures in its accompanying press release, which are standard for REITs. These include Funds from Operations (FFO) and Net Operating Income (NOI), along with their per-share or segment-specific variations. The filing emphasizes that these measures offer additional insights into operational performance and are useful for comparing SPG with other REITs.

The 8-K filing itself does not include financial statements. However, the press release furnished as Exhibit 99.1 contains non-GAAP financial measures. While reconciliations to GAAP are provided in the exhibit, investors should understand that the primary performance metrics highlighted are non-GAAP and should be considered alongside, not as replacements for, GAAP-based measures like net income and cash flows.

More detailed financial and operating information for the quarter ended March 31, 2026, can be found in Exhibit 99.1, which is the earnings release and supplemental information furnished with this 8-K. This exhibit includes the non-GAAP measures and their reconciliations to GAAP.

Funds from Operations (FFO) and Net Operating Income (NOI) are widely used in the real estate industry, particularly by REITs, to provide a more accurate picture of operating performance than traditional GAAP measures. FFO adjusts net income for depreciation and amortization of real estate assets and gains/losses from property sales, while NOI focuses on property-level income before corporate overhead, interest, and taxes. SPG uses these measures internally and provides them to investors to facilitate performance analysis and comparison within the REIT sector.