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Jun 30, 2022
EPR Q2 2022 Earnings Report
Reported growth in earnings and consistent deferral collections.
Key Takeaways
EPR Properties reported strong second-quarter results, driven by the performance of its diversified experiential properties and consistent deferral collections. The company raised its FFOAA per share guidance for 2022 and confirmed its investment spending guidance.
Raised FFOAA per share Guidance and Confirms Investment Spending Guidance for 2022.
Investment spending for the first six months of 2022 totaled $239.2 million.
Collected $4.9 million of deferred rent from accrual basis customers and $4.7 million of deferred rent and $0.3 million of deferred interest from cash basis customers.
As of June 30, 2022, had cash on hand of $168.3 million and no borrowings on its $1.0 billion unsecured revolving credit facility.
EPR
EPR
EPR Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comOther Income Revenue
CapyFin.comMortgage and Other Financing Income Revenue
CapyFin.com Forward Guidance
The Company is increasing its 2022 guidance for FFOAA per diluted common share to a range of $4.50 to $4.60 from $4.39 to $4.55 and confirming 2022 investment spending guidance of $500.0 million to $700.0 million.
Positive Outlook
- FFOAA per diluted common share guidance for 2022 from a range of $4.39 to $4.55 to a range of $4.50 to $4.60
- Confirming investment spending guidance of a range of $500.0 million to $700.0 million.
- FFO per diluted common share range of $4.32 to $4.42
- Estimated real estate depreciation and amortization of $2.18
- Allocated share of joint venture depreciation of $0.10
Challenges Ahead
- Net income available to common shareholders per diluted common share range of $2.02 to $2.12
- Estimated gain on sale of real estate of $0.01
- Impairment of real estate investments, net of $0.06
- Impairment charges on joint ventures of $0.01
- Impact of Series C and Series E dilution of $0.04
Revenue & Expenses
Visualization of income flow from segment revenue to net income