The RMR Group Inc. (NASDAQ: RMR) reported Q1 EPS of $0.58, in-line with the analyst estimate of $0.58. Revenue for the quarter came in at $159.89 million versus the consensus estimate of $154.16 million.

Adam Portnoy, President and Chief Executive Officer, made the following statement regarding the first quarter fiscal 2020 results:

“During the first fiscal quarter, we continued to assist our Client Companies with both the integration of recently completed acquisitions and their strategic repositioning efforts. The integration of Service Properties Trust’s $2.4 billion net leased retail portfolio acquisition has progressed as planned, with the incremental financial benefits to The RMR Group remaining in line with our forecasts.

We also continued making significant progress in executing on the repositioning efforts at Office Properties Income Trust and Diversified Healthcare Trust, which we believe will lead to increases in total shareholder returns at each of these Client Companies. More specifically, Office Properties Income Trust recently announced aggregate property sales for the 2019 calendar year of $848.9 million and Diversified Healthcare Trust recently announced the completion of the restructuring of its business arrangements with its largest tenant, Five Star Senior Living Inc., and that it has sold or has under agreement to sell approximately $678 million of properties.

At the close of the first fiscal quarter, our balance sheet continues to leave us well positioned to assess strategic opportunities for future growth, with $385.7 million of cash and no debt.”

For earnings history and earnings-related data on The RMR Group Inc. (RMR) click here.