Landmark Infrastructure Partners (LMRK) Misses Q2 EPS by 2c, Revenues Miss

Landmark Infrastructure Partners (NASDAQ: LMRK) reported Q2 EPS of $0.12, $0.02 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $16.8 million versus the consensus estimate of $16.83 million.

“We’re very pleased to announce another quarter of strong operating results. Our principal ground lease business continues to produce very stable and consistent returns, and we’re making great progress on the new initiatives that we’ve launched. These initiatives will allow us to drive more meaningful growth to the Partnership as we leverage our relationships and our large and growing portfolio of critical infrastructure assets. We’re confident we have the relationships and financial flexibility to execute our business and grow the Partnership, and we remain focused on providing long-term value for our unitholders,” said Tim Brazy, Chief Executive Officer of the Partnership’s general partner.

Highlights

• Completed acquisitions with total consideration of approximately $128 million through July 31, 2018;
• Reported Q2 2018 rental revenue of $16.8 million, a 31% increase year-over-year;
• Reported Q2 2018 net income of $6.1 million, EBITDA of $16.9 million, and Adjusted EBITDA of $16.5 million, a 30% increase in Adjusted EBITDA year-over-year;
• Reported Q2 2018 distributable cash flow of $8.1 million, a 9% increase year-over-year;
• Announced a quarterly distribution of $0.3675 per common unit; and
• On June 6, the Partnership completed a $125 million wireless communication fixed rate debt placement through a securitization with a weighted-average coupon rate of 4.31%.

For earnings history and earnings-related data on Landmark Infrastructure Partners (LMRK) click here.

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