Four Corners Property Trust (FCPT) Misses Q2 EPS by 2c

Four Corners Property Trust (NYSE: FCPT) reported Q2 EPS of $0.26, $0.02 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $42.2 million versus the consensus estimate of $46.44 million.

“Our portfolio continued to perform well in the second quarter with strong collections and many of our tenants experiencing sales in excess of 2019 pre-pandemic levels,” said CEO Bill Lenehan. “Our acquisition volume has increased as the year has progressed, and we expect that momentum to continue in the second half of the year. We maintained our discipline of acquiring strong net-lease properties with creditworthy tenants and great brands, and have enhanced the diversity of the FCPT portfolio with the acquisition of a number of non-restaurant properties in the quarter.” Mr. Lenehan added, “FCPT further strengthened its balance sheet in June by extending our $650 million credit facility for four additional years at a lower cost with a high-quality bank group.”

For earnings history and earnings-related data on Four Corners Property Trust (FCPT) click here.

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