Spirit Realty Capital (SRC) Misses Q1 EPS by 1c; COO Mavoides is Hitting the Trail

Spirit Realty Capital (NYSE: SRC) reported Q1 EPS of $0.20, $0.01 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $154 million versus the consensus estimate of $152.18 million.

The company also announced that by mutual agreement, Peter Mavoides has left his position as President and Chief Operating Officer.

Spirit intends to conduct a search to fill the role previously held by Mr. Mavoides. In the meantime, Thomas H. Nolan, Jr., Chairman and Chief Executive Officer of Spirit Realty Capital, will assume the responsibilities of the position on an interim basis.

"On behalf of our Board and management team, I want to thank Pete for his contributions to Spirit's success over the past four years. We wish him all the best in his future endeavors," said Mr. Nolan. "Going forward, Spirit is equipped with a deep and seasoned management team with decades of experience in the triple net lease industry. We remain focused on maintaining the quality of our portfolio and executing on our operating plan."

For earnings history and earnings-related data on Spirit Realty Capital (SRC) click here.

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