Epr Properties · NYSE:EPR
Epr Properties — Q2 2022 Earnings Presentation
16 slides from Epr Properties's earnings presentation, Aug 1, 2022
Slide 1: Second Quarter 2022 Earnings Call
SECOND QUARTER 2022 EARNINGS CALL August 2, 2022
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
Slide 4: Portfolio Update
PORTFOLIO UPDATE
Slide 5: Portfolio Overview
5 PORTFOLIO OVERVIEW Education Portfolio 74 Properties; 8 Operators Occupancy at 100% *See Quarterly Reports on Form 10-Q for definitions and calculations of these non-GAAP measures Experiential Portfolio 284 Properties; 47 Operators Occupancy at 96% $6.0B Total Investments* Total Portfolio Snapshot
Slide 6: Theatres: Not a Demand Issue, It's a Supply Issue
6 THEATRES *BoxOfficeMojo Not a Demand Issue, It’s a Supply Issue Q2 BlockbustersBox Office* Recovery Q4 Major Releases $2.3B Q2 BOX OFFICE $3.7B FIRST 6 MONTHS BOX OFFICE $965M JULY BOX OFFICE HIGHEST SINCE DECEMBER 2019
Slide 7: Portfolio Update
7 PORTFOLIO UPDATE Ski Alyeska benefiting from strong summer travel season in Alaska Eat & Play Portfolio-wide double-digit Y/Y revenue growth Attractions & Cultural Attractions performance at or above 2021; Cultural seeing significant Y/Y growth Experiential Lodging Strong growth in ADR and pleased
Slide 8: Investment Spending
8 INVESTMENT SPENDING *YTD investment spending through August 1, 2022 Return to Growth • Acquired two well-known, four-season Attractions in Canada for $142M o Villages Vacances Valcartier in Quebec City, Quebec o Calypso Waterpark in Ottawa, Ontario • Acquired Cajun Palms RV park in JV with Northga
Slide 9: Financial Review
FINANCIAL REVIEW
Slide 10: Financial Highlights
1 0 (In millions except per-share data) *See Supplemental Operating and Financial Data for the applicable periods for definitions and calculations of these non-GAAP measures FINANCIAL HIGHLIGHTS Financial Performance Quarter ended June 30, 2022 2021 $ Change % Change Total Revenue $160.4 $125.4 35.0
Slide 11: Financial Highlights: Key Ratios
1 1 FINANCIAL HIGHLIGHTS Key Ratios* Quarter ended June 30, 2022 Fixed charge coverage 3.3x Debt service coverage 3.8x Interest coverage 3.8x Net Debt to Adjusted EBITDA 5.1x Net Debt to Gross Assets 39% AFFO payout 67% *See Supplemental Operating and Financial Data for the Second Quarter and Six Mo
Slide 12: Capital Markets Update
1 2 Debt • $2.8B total debt; all fixed rate or fixed through int. rate swaps at wtd. avg. = 4.3% • Weighted avg. debt maturity of almost six years; no scheduled debt maturities until 2024 Liquidity Position at 6/30/22 • $168.3M unrestricted cash • No balance on $1B revolver • Greater than $150.0M ne
Slide 13: 2022 Guidance
1 3 2022 GUIDANCE *See Supplemental Operating and Financial Data - Second Quarter and Six Months Ended June 30, 2022 for definition of this non-GAAP measure FFO AS ADJUSTED PER SHARE* Revised Guidance $4.50 - $4.60 Prior Guidance $4.39 - $4.55 INVESTMENT SPENDING Guidance $500M - $700M DISPOSITION P
Slide 14: 2022 FFO As Adjusted Per Share Guidance Reconciliation
1 4 2022 GUIDANCE Midpoint of previous FFOAA*/share guidance range $4.47 Deferral collections from cash basis customers 0.07 Managed properties/other 0.05 Reduced percentage rents (0.04) Midpoint of current FFOAA*/share guidance range $ 4.55 2022 FFO As Adjusted Per Share Guidance Reconciliation *Se
Slide 15: Closing Comments
CLOSING COMMENTS
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