Epr Properties · NYSE:EPR
Epr Properties — Q1 2023 Earnings Presentation
16 slides from Epr Properties's earnings presentation, Apr 26, 2023
Slide 1: Earnings Call Presentation Q1 2023
FOURTH QUARTER 2022 EARNINGS CALL February 23, 2023 EARNINGS CALL PRESENTATION Q1 2023
Slide 2: Forward-looking statements disclaimer
2 The financial results in this document reflect preliminary, unaudited results, which are not final until the Company’s Quarterly Report on Form 10-Q is filed. With the exception of historical information, certain statements contained or incorporated by reference herein may contain forward-looking
Slide 3: Introductory Comments
INTRODUCTORY COMMENTS Properties*
Slide 4: EPR Properties
™ EPR tad Properties
Slide 5: Portfolio Overview
5 PORTFOLIO OVERVIEW Education Portfolio 74 Properties; 8 Operators Occupancy at 100% *See Annual Report on Form 10-K for definition and calculation of this non-GAAP measure Experiential Portfolio 289 Properties; 49 Operators Occupancy at 98% $6.2B (92%) Total Investments* Total Portfolio Snapshot ~
Slide 6: Portfolio Coverage
6 PORTFOLIO COVERAGE *BoxOfficeMojo TTM December 2022 YE 2019 Theatre Coverage 1.3x 1.7x Box Office* $7.4B $11.4B Non-Theatre Coverage 2.7x 2.2x Total Portfolio Coverage 2.0x 1.9x Strong Total Portfolio Coverage Methodology – Coverage numerator is customer's store level EBITDARM and denominator is E
Slide 7: Theatres
7 THEATRES *BoxOfficeMojo Box Office Recovery* $1.7B Q1 BOX OFFICE Streaming Services Commit to Theatrical Release Content
Slide 8: Portfolio Update
8 PORTFOLIO UPDATE Ski Current season skier visits up 11% and revenue up 8% over same period 2021-2022 Eat & Play Q1 portfolio revenue up 11% & EBITDARM up 4% Attractions & Cultural Many properties are seasonal, Museums experienced growth Experiential Lodging Margaritaville Nashville & St. Pete reso
Slide 9: Investment Spending
9 INVESTMENT SPENDING Q1 Investment spending was $66.5M • Acquired newly constructed Vital Climbing Gym in Brooklyn for $46.7M – second investment in the climbing gym space with well-positioned real estate 2023 Investment Spending Guidance $200M-$300M
Slide 10: Financial Review
FINANCIAL REVIEW
Slide 11: Financial Highlights
1 1 (In millions except per-share data) *See Supplemental Operating and Financial Data for the First Quarter Ended March 31, 2023 for definitions and calculations of these non-GAAP measures FINANCIAL HIGHLIGHTS Financial Performance Quarter ended March 31, 2023 2022 $ Change % Change Total Revenue $
Slide 12: Financial Highlights: Key Ratios
1 2 FINANCIAL HIGHLIGHTS Key Ratios* Quarter ended March 31, 2023 Fixed charge coverage 3.4x Debt service coverage 4.0x Interest coverage 4.0x Net Debt to Adjusted EBITDAre 5.0x Net Debt to Gross Assets 39% AFFO payout 63% *See Supplemental Operating and Financial Data for the First Quarter Ended Ma
Slide 13: Capital Markets Update
1 3 Debt • $2.8B total debt; all fixed rate or fixed through interest rate swaps at weighted avg. = 4.3% • Weighted avg. debt maturity of 5.0 years; no scheduled debt maturities in 2023 and only $136.6M due in 2024 Liquidity Position at 3/31/2023 • $96.4M unrestricted cash • No balance on $1B revolv
Slide 14: Confirming 2023 Guidance
1 4 CONFIRMING 2023 GUIDANCE FFO AS ADJUSTED Not providing due to uncertainties related to Regal Bankruptcy INVESTMENT SPENDING $200M - $300M PERCENTAGE RENT $8.5M - $12.5M GENERAL & ADMINISTRATIVE EXPENSE $54M - $57M
Slide 15: Closing Comments
CLOSING COMMENTS EPR r
Slide 16: EPR Properties contact details
EPR Properties 909 Walnut Street, Suite 200 Kansas City, MO 64106 www.eprkc.com 816-472-1700 info@eprkc.com