VEREIT (VER) Misses Q2 EPS by 8c, Revenues Beat

VEREIT (NYSE: VER) reported Q2 EPS of ($0.09), $0.08 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $315.66 million versus the consensus estimate of $290.35 million.

Second Quarter 2018 Highlights

• Net loss of $(74.7) million and net loss per diluted share of $(0.09)
• Achieved $0.18 AFFO per diluted share
• Completed $41.0 million of acquisitions and $56.4 million of dispositions
• Entered into new $2.9 billion credit facility enhancing liquidity and financial flexibility
• Settled pending litigation with Vanguard for $90.0 million
• Reaffirming 2018 AFFO per diluted share guidance range of $0.70 and $0.72 (see reconciliation to earnings per share at the end of this release)

GUIDANCE:

VEREIT sees Q3 2018 EPS of ($0.09)-($0.07), versus the consensus of ($0.01).

For earnings history and earnings-related data on VEREIT (VER) click here.

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