Essential Properties (EPRT) Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, February 12, 2026 astatine 11:13 AM CST 39 min read

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Thursday, February 12, 2026 astatine 10 a.m. ET

• President and Chief Executive Officer — Peter M. Mavoides

• Chief Financial Officer — Robert W. Salisbury

• Chief Investment Officer — A. Joseph Peil

• Chief Operating Officer — R. Max Jenkins

• Director of Investor Relations — Cheryl Call

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Cheryl Call: Thank you, operator. Good morning, everyone, and convey you for joining america contiguous for Essential Properties Realty Trust, Inc. 4th fourth 2025 net league call. During this league call, we whitethorn marque statements that whitethorn beryllium considered forward-looking statements nether national securities law. The company's existent aboriginal results whitethorn disagree importantly from the matters discussed successful these forward-looking statements, and we whitethorn not judge revisions to those forward-looking statements to bespeak changes aft the statements were made. Factors and risks that could origin existent results to disagree materially from expectations are disclosed from clip to clip successful greater item successful the company's filings with the SEC and successful yesterday's net property release.

In our net merchandise past night, for the quarter, we reported GAAP nett income of $68,300,000 and AFFO of $99,700,000. With that, I volition crook the telephone implicit to Peter M. Mavoides.

Peter M. Mavoides: Thanks, Cheryl, and convey you to everyone joining america contiguous for your involvement successful Essential. The 4th fourth capped disconnected different twelvemonth of coagulated show by the squad that delivered compelling net maturation and coagulated returns for shareholders. It has been 10 years since we started this company, and I americium highly arrogant of the team, that we person developed the ascendant presumption that we person established arsenic a existent property superior supplier to mediate marketplace operators that are increasing successful our targeted industries, and astir importantly, the returns that we person delivered for shareholders, and implicit 200% full shareholder returns since our IPO successful 2018.

In the 4th quarter, we continued to execute our differentiated concern strategy, sourcing 85% of our $296,000,000 of investments done existing relationships portion continuing to adhd caller relation relationships to our platform. This robust concern measurement was generated with a disciplined pricing, including an mean archetypal currency output of 7.7% and a compelling GAAP output of 9.1%. This ample dispersed to our outgo of superior is simply a cardinal operator of our net growth. Our portfolio erstwhile again demonstrated resilient tenant recognition trends with same-store rent maturation of 1.6%, beardown rent sum of 3.6 times, and an betterment successful our ticker list.