Essential Properties Realty Trust, Inc. (EPRT) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

we stand by, your meeting is about to begin. Good morning, ladies and gentlemen, and welcome to Essential Properties Realty Trust's fourth quarter 2025 earnings conference call. This conference call is being recorded and a replay of the call will be available three hours after the completion of the call for the next two weeks. The dial-in details for the replay can be found in yesterday's press release. Additionally, there will be an audio webcast available on Essential Properties' website and at www.essentialproperties.com, an archive of which will be available for 90 days. On the call with us this morning are Mr. Pete Mavoides, President and Chief Executive Officer, Rob Salisbury, Chief Financial Officer, Max Jenkins, Chief Operating Officer, A.J. Peel, Chief Investment Officer, and Cheryl Call, Director of Financial Planning and Data Analytics. It is now my pleasure to turn the conference over to Cheryl Call. Please go ahead, ma'am. Thank you, Operator. Good morning, everyone, and thank you for joining us today for Essential Properties' fourth quarter 2025 earnings conference call. During this conference call, we will make certain statements that may be considered forward-looking statements under federal securities law. The company's actual future results may differ significantly from the matters discussed in these forward-looking statements, and we may not release revisions to those forward-looking statements to reflect changes after the statements were made. Factors and risks that could cause actual results to differ materially from expectations are disclosed from time to time in greater detail in the company's filings with the SEC and in yesterday's earnings press release. In our earnings release last night, for the quarter, we reported GAAP net income of $68.3...