Q1 2026 EPR Properties Earnings Call Transcript

May 7, 2026 / 12:30 PM GMT

Transcript 10-Q8-K

Key Points

Positve

EPR Properties (EPR) reported a 5.9% increase in FFO as adjusted per share compared to the prior year, indicating strong financial performance.
The company completed a significant $315 million acquisition of a seven-part regional portfolio from Six Flags, marking its largest acquisition in the post-COVID era.
EPR Properties (EPR) increased its investment spending guidance to $500 million to $600 million, reflecting confidence in its investment pipeline and opportunities.
The company's portfolio remains resilient with 99% of properties leased or operated, and a strong unit-level rent coverage of two times.
EPR Properties (EPR) increased its monthly common dividend by 5.1%, demonstrating confidence in its financial stability and commitment to returning value to shareholders.

Negative

The decrease in percentage rents and participating interest income, which was $2.5 million for the quarter versus $5.1 million in the prior year, indicates some volatility in revenue streams.
Interest expense increased by $1.7 million due to higher average borrowings, impacting overall profitability.
The company faces macroeconomic uncertainties, which could impact future investment opportunities and consumer spending in the experiential sector.
Despite strong performance, the company remains cautious about its exposure to the theater segment, aiming to diversify its portfolio further.
EPR Properties (EPR) has increased its disposition guidance, indicating potential challenges in managing non-core assets and the need to optimize its portfolio.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EPR.N - EPR Properties
Q1 2026 EPR Properties Earnings Call
May 07, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to the EPR Properties First Quarter 2026 Earnings Call.

We ask that you please hold all questions until the completion of the formal remarks, at which time you will be given instructions for the question-and-answer session.

Also, as a reminder, this conference call is being recorded today. If you have any objections, please disconnect at this time.

I will now hand the call over to Brian Moriarty. Senior Vice President of Corporate Communications.

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Unidentified_2 [2]
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Thank you, operator. Thanks for joining us today for

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