Radius Global Infrastructure, Inc. (RADI) Misses Q1 EPS by 37c, Revenues Beat

Radius Global Infrastructure, Inc. (NASDAQ: RADI) reported Q1 EPS of ($0.66), $0.37 worse than the analyst estimate of ($0.29). Revenue for the quarter came in at $22.17 million versus the consensus estimate of $21.18 million.

FINANCIAL RESULTS

• Revenue increased 42% to $22.2 million for the three months ended March 31, 2021 compared to revenue of $15.6 million for the three months ended March 31, 2020.
• Gross Profit increased 41% to $21.9 million Q1 2021 compared to gross profit of $15.5 million in the corresponding 2020 three-month period, while maintain a gross profit margin of approximately 99%.
• Annualized In Place Rents increased to $90.6 million as of March 31, 2021, an increase of $29.8 million or 49% over the March 31, 2020 Annualized In Place Rents of $60.8 million.
• Investments in Real Property Interests and Related Intangible Assets, as identified in the Company’s Consolidated Statements of Cash Flows, was $104.7 million and $21.6 million for the three months ended March 31, 2021 and 2020 respectively, an increase of $83.1 million, or 385%, for the quarter ended March 31, 2021 over the quarter ended March 31, 2020.
• Acquisition Capex deployed by the Company was $107.8 million and $28.4 million for the quarter ended March 31, 2021 and 2020 respectively, an increase of $79.4 million or 280% for the quarter ended March 31, 2021 over the quarter ended March 31, 2020.

“We are very pleased to announce another quarterly result of strong revenue, gross profit and portfolio growth, adding to the significant capital deployment achieved in the fourth quarter of 2020. In Q1 2021, we increased revenue by 42% over the 2020 first quarter, bringing our Annualized In Place Rents to over $90 million. We are excited to continue adding to the powerful scale of these stable cash flow streams underlying essential telecom digital infrastructure leases,” commented Bill Berkman, Co-Chairman and Chief Executive Officer.

For earnings history and earnings-related data on Radius Global Infrastructure, Inc. (RADI) click here.

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