Essential Properties Realty Trust 10-Q: Revenue $158.8M; Net income $59.95M

Essential Properties Realty Trust reported quarterly total revenues of $158.8 million, a 22.8% increase year-over-year driven by portfolio growth, and net income of $59.95 million, up $3.67 million versus the prior-year quarter. Operating income was $89.6 million and included a $16.8 million impairment; a per-share net income figure was not provided in Part I, Items 1–2. The results reflect continued acquisition-driven scale and increased interest income from loan activity.Financial HighlightsTotal revenues: $158.8 million, up $29.4 million (22.8%) versus the prior-year quarter.Operating income: $89.6 million (includes a $16.8 million impairment), up $10.0 million versus the prior-year quarter.Net income: $59.95 million, up $3.67 million versus the prior-year quarter.Net income per share: — (per-share figure not provided in Part I, Items 1–2).Business HighlightsPortfolio growth: Expanded to 2,417 properties, 99.7% occupied, adding 277 rental properties year-over-year with annualized base rent (ABR) of $584.2 million.Revenue momentum drivers: Rental revenue rose 22.7% year-over-year driven by acquisitions and larger portfolio scale; interest income from loans also increased.Investment sourcing: Recent investments were 100% internally originated sale-leasebacks, with master leases comprising 65% of ABR to accelerate scale.Lease and asset quality: Weighted average lease term of 14.6 years; 97.6% of leases include rent escalations; unit-level rent coverage ratio of 3.5x supports stability.Operational controls: Approximately 99% of leases require unit-level financial reporting, enabling active asset management and proactive credit monitoring.Original SEC Filing: ESSENTIAL PROPERTIES REALTY TRUST, INC. [ EPRT ] - 10-Q - Apr. 22, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.