EPR Q3 2022 Earnings Report
Key Takeaways
EPR Properties reported total revenue of $161.41 million and net income available to common shareholders of $44.77 million for the third quarter ended September 30, 2022. The company is revising its 2022 guidance for FFOAA per diluted common share to a range of $4.50 to $4.68 from a range of $4.50 to $4.60.
FFOAA per diluted share Guidance Midpoint Increased - The Company is revising its 2022 guidance for FFOAA per diluted common share to a range of $4.50 to $4.68 from a range of $4.50 to $4.60 reflecting an increase of $0.04 per diluted common share at the midpoint.
Executing on Investment Pipeline - The Company's investment spending for the first nine months of 2022 totaled $321.3 million and consisted of experiential acquisitions and development and redevelopment projects.
Solid Deferral Collections - During the third quarter, the Company collected $4.5 million of deferred rent from accrual basis customers that reduced receivables and $4.6 million of deferred rent and $0.8 million of deferred interest from cash basis customers that were booked as additional revenue.
Strong Liquidity Position - As of September 30, 2022, the Company had cash on hand of $160.8 million, no borrowings on its $1.0 billion unsecured revolving credit facility and a consolidated debt profile all at fixed interest rates with no maturities until 2024.
EPR
EPR
EPR Revenue by Segment
Forward Guidance
The Company is revising its 2022 guidance for FFOAA per diluted common share to a range of $4.50 to $4.68 from a range of $4.50 to $4.60 and revising 2022 investment spending guidance to a range of $375.0 million to $425.0 million from a range of $500.0 million to $700.0 million .
Revenue & Expenses
Visualization of income flow from segment revenue to net income