Q1 2025 EPR Properties Earnings Call Transcript
Key Points
- EPR Properties (EPR) reported a 4.7% increase in top-line revenue and a 5.3% increase in FFO as adjusted per share year over year.
- The company is expanding its portfolio with new experiential asset types, including a construction-themed attraction and a private golf club.
- EPR Properties (EPR) has a strong investment pipeline, with $37.7 million spent in Q1 entirely on experiential properties.
- The company's ski properties delivered solid results, supported by robust season pass sales and favorable weather conditions.
- EPR Properties (EPR) increased its 2025 earnings guidance and raised its monthly common dividend by 3.5%.
- The eat-and-play sector experienced some year-over-year declines, although coverage remains healthy.
- Q1 box office was down 11.6% compared to Q1 2024, largely due to the underperformance of Snow White.
- Santa Monica Pier was adversely impacted by Southern California wildfires, leading to temporary closures.
- Interest expense increased by $1.4 million due to higher borrowings under the unsecured revolving credit facility.
- The company is facing ongoing pressure on operating expenses and attendance declines in some sectors.
Hello and welcome to the EPR Properties Q1 2025 earnings call. (Operator Instructions) Also, as a reminder, this conference 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, Corporate Communications.
Great. Thank you. Thanks for joining us today for our first-quarter 2025 earnings call and webcast. Participants on today's call are Greg Silvers, Chairman and CEO; Greg Zimmerman, executive Vice President, and CIO; and Mark Peterson, Executive Vice President and CFO.
I'll start by Informing you that this call may include forward-looking statements as defined in the Private Securities Litigation Act of 1995 identified by such words as will be, intend, continue, believe, may, expect, hope, anticipate, or other comparable terms. The company's actual financial condition, the results of the operations may vary materially from those contemplated in such forward
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