Orion Properties Inc. (ONL) Q2 2025 Earnings Call

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WEBVTT 00:00:00.000 -- 00:00:05.160 Greetings. Welcome to Orion Properties' second quarter 2025 earnings call. 00:00:05.160 -- 00:00:08.180 As a reminder, this conference is being recorded. 00:00:08.180 -- 00:00:12.760 I would now like to turn the call over to Paul Hughes, General Counsel for Orion. 00:00:12.760 -- 00:00:15.240 Thank you. You may begin. 00:00:15.240 -- 00:00:20.320 Thank you and good morning, everyone. Yesterday, Orion released its results for the quarter 00:00:20.320 -- 00:00:23.740 ended June 30th, 2025, 00:00:23.740 -- 00:00:28.900 filed its Form 10Q Securities and Exchange Commission, and posted its earnings 00:00:28.900 -- 00:00:32.900 supplement to its website at onlreit.com. 00:00:33.680 -- 00:00:38.160 During the call today, we will be discussing Orion's guidance estimates for calendar 00:00:38.160 -- 00:00:40.060 year 2025 00:00:40.060 -- 00:00:45.320 and other forward-looking statements, which are based on management's current expectations 00:00:45.320 -- 00:00:50.880 and are subject to certain risks that could cause actual results to differ materially 00:00:50.880 -- 00:00:52.880 from our estimates. 00:00:52.880 -- 00:00:58.200 The risks are discussed in our earnings release, as well as in our Form 10Q and other 00:00:58.200 -- 00:01:03.240 SEC filings, and Orion undertakes no duty to update any forward-looking 00:01:03.240 -- 00:01:06.360 statements made during this call. 00:01:06.360 -- 00:01:11.640 Today on the call, we will be discussing funds from operations, or FFO, and core funds 00:01:11.640 -- 00:01:17.300 from operations, or core FFO, and other non-GAAP financial measures. 00:01:17.300 -- 00:01:22.360 These non-GAAP financial measures are not a substitute for financial information 00:01:22.360 -- 00:01:27.500 presented in accorda...