Epr Properties · NYSE:EPR
Epr Properties — Q2 2025 Earnings Presentation
19 slides from Epr Properties's earnings presentation, Jul 31, 2025
Slide 1: Earnings Call Presentation Q2 2025
EARNINGS CALL Q2 PRESENTATION 2025
Slide 2: Disclaimer
DISCLAIMER 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
Slide 3: Introductory Comments
INTRODUCTORY COMMENTS
Slide 4: Quarterly Highlights
QUARTERLY HIGHLIGHTS • Second Quarter Results – underscore sustained momentum • Improved Cost of Capital – positions us to accelerate future investment spending • Investment Pipeline – includes both existing and new partners, spanning a broad range of deal sizes; larger deals are a possibility • Str
Slide 5: Portfolio
PORTFOLIO
Slide 6: Portfolio Overview
PORTFOLIO OVERVIEW Total Portfolio Snapshot Experiential Portfolio ~$6.9B Total Investments* 274 Properties; 52 Operators 329 Properties ~$6.5B (94%) Total Investments* Leased or Operated at 99%** Leased or Operated at 99%** Q2 Investment Spending $48.6M Education Portfolio Total Portfolio Coverage
Slide 7: Portfolio Update: Box Office Updates
PORTFOLIO UPDATE Box Office Updates* North American Box Office Gross (NABOG) rebounding • Q2 box office was $2.7B (up 37% vs. 2024); 6 titles grossed over $175M o A Minecraft Movie at $424M o Sinners at $279M o Lilo & Stitch at $419M o How to Train Your Dragon at $254M • Q3 has 3 titles projected to
Slide 8: Portfolio Update: Other Experiential Property and Operator Updates
PORTFOLIO UPDATE Other Experiential Property and Operator Updates Eat & Play • Andretti OKC opened July 15 • Openings scheduled for Andretti KC in late 2025 and Schaumberg early 2026 • Portfolio coverage strong and above pre-Covid Attractions & Cultural – properties open for summer; major expansion
Slide 9: Investment Spending $200M - $300M
INVESTMENT SPENDING Q2 Investment Spending was $48.6M bringing YTD to $86.3M First traditional golf investment – acquired land for $1.2M and provided $5.9M mortgage financing to Evergreen Partners for a private club in GA Acquired second Pinstack Eat & Play venue – in Northern VA for $1.6M with comm
Slide 10: Capital Recycling $130M - $145M
CAPITAL RECYCLING Continue to Execute Capital Recycling Strategy to Focus Our Portfolio on Diversified Experiential Assets Properties Sold During the Quarter • Vacant former Regal theatre in CA to Costco for net proceeds of $24M • 2 theatre properties to smaller operator who leased both locations fr
Slide 11: Financial Review
FINANCIAL REVIEW
Slide 12: Financial Highlights: Quarter Ended June 30
FINANCIAL HIGHLIGHTS Financial Performance Quarter ended June 30, 2025 2024 $ Change % Change Total Revenue $178.1 $173.1 $5.0 2.9% Net Income – Common 69.6 39.1 30.5 78.0% FFO as adj. – Common* 97.3 93.5 3.8 4.1% AFFO – Common* 95.8 92.3 3.5 3.8% Net Income/share – Common 0.91 0.51 0.40 78.4% FFO/s
Slide 13: Financial Highlights: Six Months Ended June 30
FINANCIAL HIGHLIGHTS Financial Performance Six months ended June 30, 2025 2024 $ Change % Change Total Revenue $353.1 $340.3 $12.8 3.8% Net Income – Common 129.4 95.7 33.7 35.2% FFO as adj. – Common* 189.1 179.2 9.9 5.5% AFFO – Common* 188.8 178.0 10.8 6.1% Net Income/share – Common 1.69 1.26 0.43 3
Slide 14: Financial Highlights: Key Ratios
FINANCIAL HIGHLIGHTS Key Ratios* Quarter ended June 30, 2025 Fixed charge coverage 3.3x Debt service coverage 3.9x Interest coverage 3.9x Net Debt to Adjusted EBITDAre 5.1x Net Debt to Annualized Adjusted 5.0x EBITDAre Net Debt to Gross Assets 39% AFFO payout 71% *See the most recently filed Supplem
Slide 15: Capital Markets Update
CAPITAL MARKETS UPDATE Debt • $2.8B total debt; $2.4B fixed rate or fixed through interest rate swaps at overall weighted avg. = 4.3% • On April 1, 2025, fully repaid $300.0M of senior unsecured notes at maturity using borrowings under our revolving credit facility • No further debt maturities in ne
Slide 16: 2025 Guidance
2025 GUIDANCE FFO AS ADJUSTED PER SHARE* Guidance (no change) $5.00 - $5.16 INVESTMENT SPENDING Guidance (no change) $200M - $300M DISPOSITION PROCEEDS Revised Guidance $130M - $145M Prior Guidance $80M - $120M *See the most recently filed Supplemental Operating and Financial Data for definitions an
Slide 17: 2025 Guidance, Continued
2025 GUIDANCE, CONTINUED PERCENTAGE RENT & PARTICIPATING INTEREST Guidance (no change) $21.5M - $25.5M GENERAL & ADMINISTRATIVE EXPENSE Guidance (no change) $53.0M - $56.0M OTHER INCOME Guidance (no change) $42.0M - $52.0M OTHER EXPENSE Guidance (no change) $42.0M - $52.0M 17
Slide 18: Closing Comments
CLOSING COMMENTS
Slide 19: EPR Properties
*wa EPR ~~ Properties® The Diversified Experi tial REIT EPR Properties 909 Walnut Street, Suite 200 Kansas City, MO 64106 www.eprkc.com (816) 472-1700