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Jun 30, 2024
VICI Properties Q2 2024 Earnings Report
VICI Properties reported a 6.6% year-over-year revenue growth, announced capital investment in the Venetian Resort, a $250 million Great Wolf Mezzanine Loan, and raised guidance for full year 2024.
Key Takeaways
VICI Properties Inc. reported a strong second quarter with a 6.6% increase in total revenues to $957.0 million and a 7.3% increase in net income attributable to common stockholders to $741.3 million, or $0.71 per share. The company also announced significant capital investments and raised its AFFO guidance for the full year 2024.
Total revenues increased 6.6% year-over-year to $957.0 million.
Net income attributable to common stockholders increased 7.3% year-over-year to $741.3 million, or $0.71 per share.
AFFO attributable to common stockholders increased 9.6% year-over-year to $592.4 million, or $0.57 per share.
Raised AFFO guidance for full year 2024 to between $2,350 million and $2,370 million, or between $2.24 and $2.26 per diluted share.
Revenue by Segment
Forward Guidance
The Company is raising its AFFO guidance for the full year 2024. The Company estimates AFFO for the year ending December 31, 2024 will be between $2,350 million and $2,370 million, or between $2.24 and $2.26 per diluted common share.
Positive Outlook
- AFFO for the year ending December 31, 2024 is expected to be between $2,350 million and $2,370 million.
- AFFO per diluted common share is projected to be between $2.24 and $2.26.
- Guidance reflects management’s view of current and future market conditions.
- Guidance includes assumptions with respect to the earnings impact of events referenced in the release.
- The per share estimates reflect the dilutive effect of the 18,856,855 shares currently pending under the Company's outstanding forward sale agreements as calculated under the treasury stock method.
Challenges Ahead
- Guidance does not include the impact on operating results from any pending or possible future acquisitions or dispositions.
- Guidance excludes impact from capital markets activity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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