MGM Growth Properties (MGP) Reports In-Line Q1 EPS, Miss on Revenues

MGM Growth Properties (NYSE: MGP) reported Q1 EPS of $0.22, in-line with the analyst estimate of $0.22. Revenue for the quarter came in at $186.6 million versus the consensus estimate of $214.46 million.

Financial highlights for the first quarter of 2018:

• Rental revenue was $186.6 million;
• Net income was $58.2 million, or $0.22 per diluted Operating Partnership unit;
• Funds From Operations(1) ("FFO") was $131.2 million, or $0.49 per diluted Operating Partnership unit;
• Adjusted Funds From Operations(2) ("AFFO") was $140.6 million, or $0.53 per diluted Operating Partnership unit;
• Adjusted EBITDA(3) was $185.7 million; and
• General and administrative expenses were $3.9 million.

For earnings history and earnings-related data on MGM Growth Properties (MGP) click here.

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