EPR Properties (EPR) Tops Q1 EPS by 4c, Revenues Beat; Raises FY19 FFO Guidance, Updates FY19 EPS Mid-Point Guidance Above Consensus

EPR Properties (NYSE: EPR) reported Q1 EPS of $0.79, $0.04 better than the analyst estimate of $0.75. Revenue for the quarter came in at $164.5 million versus the consensus estimate of $146.14 million.

• Total revenue was $164.5 million for the first quarter of 2019, representing a 6% increase from $155.0 million for the same quarter in 2018.
• Net income available to common shareholders was $59.3 million, or $0.79 per diluted common share, for the first quarter of 2019 compared to $23.5 million, or $0.32 per diluted common share, for the same quarter in 2018.
• Funds From Operations (FFO) (a non-GAAP financial measure) for the first quarter of 2019 was $93.1 million, or $1.23 per diluted common share, compared to $61.0 million, or $0.82 per diluted common share, for the same quarter in 2018.
• FFO as adjusted (FFOAA) (a non-GAAP financial measure) for the first quarter of 2019 was $102.6 million, or $1.36 per diluted common share, compared to $94.0 million, or $1.26 per diluted common share, for the same quarter in 2018, representing an 8% increase in per share results.

“We are pleased with the sustained momentum demonstrated by our first quarter results,“ stated Company President and CEO Greg Silvers. “We continue to source additional growth opportunities consistent with our focus on experiential activities which play directly into the Company’s differentiated and deep expertise. With the expected payoff of the mortgage associated with the Schlitterbahn water parks, we are well-positioned with additional capital for reinvestment. As we further expand, we will adhere to our core underwriting principles as we seek both accretive initial returns and growth in yield.”

GUIDANCE:

EPR Properties sees FY2019 EPS of $3.10-$3.30, versus the consensus of $3.13.

For earnings history and earnings-related data on EPR Properties (EPR) click here.

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