Orion Properties Inc. (ONL) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.557 Greetings. Welcome to Orion Properties' first quarter 2026 earnings call. 00:00:05.557 -- 00:00:08.421 As a reminder, this conference is being recorded. 00:00:08.421 -- 00:00:12.566 I would now like to turn the call over to Paul Hughes, General Counsel. 00:00:12.566 -- 00:00:13.847 Thank you. You may begin. 00:00:13.847 -- 00:00:15.847 Thank 00:00:15.849 -- 00:00:21.156 you and good morning, everyone. Yesterday, Orion released its results for the quarter 00:00:21.156 -- 00:00:23.498 ended March 31, 2026, 00:00:23.498 -- 00:00:25.020 filed 00:00:25.020 -- 00:00:30.225 its Form 10-Q with the Securities and Exchange Commission, and posted its earnings 00:00:30.225 -- 00:00:34.047 supplement to its website at onlreit.com. 00:00:35.551 -- 00:00:40.417 During the call today, we will be discussing Orion's guidance estimates for calendar 00:00:40.417 -- 00:00:42.900 year 2026 and 00:00:42.900 -- 00:00:48.567 other forward-looking statements, which are based on management's current expectations 00:00:48.567 -- 00:00:53.613 and are subject to certain risks that could cause actual results to differ materially 00:00:53.613 -- 00:00:55.955 from our estimates. 00:00:55.955 -- 00:01:01.200 The risks are discussed in our earnings release as well as in our form 10Q and other 00:01:01.200 -- 00:01:06.766 SEC filings. And Orion undertakes no duty to update any forward-looking 00:01:06.766 -- 00:01:10.110 statements made during this call. 00:01:10.110 -- 00:01:15.475 We will be discussing non-GAAP financial measures such as funds from operations 00:01:15.475 -- 00:01:21.982 or FFO and core funds from operations or core FFO. 00:01:21.982 -- 00:01:27.431 These non-GAAP financial measures are not a substitute for financial information presented 00:01:27....