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Essential Properties
🇺🇸 NYSE:EPRT
•
Dec 31, 2024

Essential Properties Q4 2024 Earnings Report

Key Takeaways

Essential Properties reported strong revenue growth of 22.5% YoY, driven by increased rental income and new investments. Adjusted EPS grew by 7%, reflecting resilient cash flows, while net income per share declined by 3%.

Total Revenue
$120M
Previous year: $97.7M
+22.5%
EPS
$0.45
Previous year: $0.42
+7.1%
Occupancy Rate
99.7%
Previous year: 99.7%
+0.0%
Number of Properties
2.1K
Previous year: 1.86K
+13.0%
Total Square Footage
22.4M
Previous year: 20.15M
+11.2%
Gross Profit
$74.1M
Previous year: $96.4M
-23.1%
Cash and Equivalents
$45M
Previous year: $49M
-8.1%
Total Assets
$5.8B
Previous year: $4.77B
+21.6%

Essential Properties Revenue

Essential Properties EPS

Essential Properties Revenue by Segment

Forward Guidance

Essential Properties increased the lower bound of its 2025 AFFO per share guidance, reflecting confidence in continued investment activity and stable portfolio performance.

Positive Outlook

  • 2025 AFFO per share guidance raised to $1.85 - $1.89.
  • Planned investments between $900M and $1.1B.
  • Strong liquidity position of $1.4B.
  • 99.7% occupancy maintained across portfolio.
  • Weighted average lease term remains robust at 14 years.

Challenges Ahead

  • Increased competition in real estate investment market.
  • Potential headwinds from capital market fluctuations.
  • Higher interest expense impacting profitability.
  • Operating margin declined by 3.15 percentage points YoY.
  • Rising general and administrative expenses.

Revenue & Expenses

Visualization of income flow from segment revenue to net income