10-K · February 26, 2026
EPR reiterates its strategy to be a specialist experiential REIT, concentrating on out-of-home leisure assets and pursuing diversification away from theatres into eat & play, attractions, ski, lodging and fitness. The…
Earnings analysis · 10-Q
EPR earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
EPR Properties reported a robust quarter with total revenue of $181.3 million, surpassing analyst estimates of $174.4 million. The company registered EPS of $1.26, exceeding expectations, while FFOAA per share also rose…
Read full summary
EPR Properties reported a robust quarter with total revenue of $181.3 million, surpassing analyst estimates of $174.4 million. The company registered EPS of $1.26, exceeding expectations, while FFOAA per share also rose to $1.26, yielding a solid growth trajectory despite a slight decline in net income per share. Management expressed confidence about future investment prospects and sustained operational momentum in their segment reports.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.26
- Segment
- Experiential
- Segment
- Education
What stood out
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Revenue Beat
Total revenue reached $181.3 million, beating estimates of $174.4 million by 4.4%.
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EPS Surpass
Reported EPS of $1.26 exceeded the consensus estimate of $1.21, indicating a positive surprise of 4.1%.
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Segment Growth in Experiential
Experiential revenue increased by $9.2 million due to new property acquisitions and developments, reflecting management's strategic focus.
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FFOAA Growth
FFOAA per diluted share stood at $1.26, showing a year-over-year increase of 5.9% from $1.19.
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Investment Spending Increased
Investment spending totaled $51.3 million in Q1 2026, up from $37.7 million in Q1 2025, highlighting growth initiatives.
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Strong Operating Cash Flow
Net cash from operating activities was $113.4 million, up from $99.4 million the previous year.
What to watch
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Net Income Decline
Net income available to common shareholders decreased by 5.1%, down to $0.74 from $0.78 year-over-year.
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Increased Debt Levels
Total debt increased to $2.9 billion from $2.79 billion year-over-year, raising financial leverage concerns.
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Retirement and Severance Expenses
A new retirement and severance expense of $1.4 million was recognized due to leadership changes, impacting net income.
Management's outlook
FFOAA per diluted share guidance increased to $5.37-$5.53; further numeric guidance deferred to earnings press release / call.
Earlier filings 4
10-Q · October 30, 2025
EPR reported total revenue of $182,306 (dollars in thousands) for Q3 2025, up modestly from $180,507 in Q3 2024, while diluted EPS increased to $0.79 from $0.53 in the prior-year quarter. Operating income improved to…
10-Q · July 31, 2025
EPR reported total revenue of $178,068,000 and diluted EPS of $0.91 for the quarter ended June 30, 2025. Operating performance improved materially year-over-year — income from operations rose to $111,251,000 (operating…
10-Q · May 8, 2025
EPR reported total revenue of $175,033,000 for the quarter ended March 31, 2025, up from $167,232,000 in Q1 2024, with net income available to common shareholders of $59,771,000 (diluted EPS $0.78 vs $0.75 in Q1 2024).…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.