Essential Properties (EPRT) Q2 FFO Match Estimates

Company Performance - Essential Properties (EPRT) reported quarterly funds from operations (FFO) of $0.43 per share, matching the Zacks Consensus Estimate and showing an increase from $0.41 per share a year ago [1] - The company posted revenues of $109.27 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.19% and up from $86.52 million in the same quarter last year [2] - Essential Properties shares have increased approximately 21.1% since the beginning of the year, outperforming the S&P 500's gain of 16.5% [3] Future Outlook - The company is expected to report quarterly earnings of $0.60 per share in its upcoming report, reflecting a year-over-year change of +1.7% [5] - The current consensus FFO estimate for the upcoming quarter is $0.45 on revenues of $114.73 million, and for the current fiscal year, it is $1.74 on revenues of $447.45 million [12] - The estimate revisions trend for Essential Properties is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [9] Industry Context - The REIT and Equity Trust - Retail industry, to which Essential Properties belongs, is currently ranked in the top 13% of over 250 Zacks industries, suggesting a strong performance potential [10] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, which can be tracked using tools like the Zacks Rank [11]