EPR Properties reported higher revenue, net income and funds-from-operations measures for the third quarter and first nine months of 2026. The experiential-property landlord also raised its 2026 earnings and investment-spending guidance, though the materials provided here do not include the revised targets.
Key details
-
Third-quarter revenue rose 12% year over year to $204.1 million. Net income available to common shareholders increased 55.5% to $94.1 million, or $1.22 per diluted share, compared with $60.6 million, or $0.79 per share, a year earlier.
-
Funds-from-operations measures also grew. Adjusted funds from operations (FFOAA) increased 10.4% to $117.4 million, or $1.49 per diluted share, up 8.8%. Adjusted funds from operations (AFFO) rose 11.4% to $121.1 million, or $1.54 per diluted share, up 10.8%.
-
For the first nine months, revenue rose 8.6% to $581.4 million. Net income available to common shareholders increased 11.5% to $211.8 million, or $2.75 per diluted share, compared with $189.9 million, or $2.48 per share, in the same period of 2025.
-
Nine-month FFOAA increased 10.3% to $325.8 million, or $4.16 per diluted share, up 9.2%. AFFO rose 11.0% to $333.7 million, or $4.26 per diluted share, up 9.8%.
-
EPR raised its 2026 earnings and investment-spending guidance. The announcement excerpt does not provide the updated figures or further detail on the planned spending.
-
The company changed how it defines and calculates AFFO and recast all periods shown to reflect the change. It also made an investor presentation and supplemental operating and financial data available.
Plain-English implications
EPR’s reported revenue, net income and per-share funds-from-operations measures were all higher than a year earlier, both for the quarter and for the first nine months. The higher investment-spending guidance indicates the company plans to spend more in 2026 than it previously expected; the announcement excerpt does not specify the amount or intended uses.