Gaming and Leisure Properties (GLPI) Meets Q2 FFO Estimates

Core Viewpoint - Gaming and Leisure Properties reported revenues of $380.63 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.53% and showing an increase from $356.59 million year-over-year [1] Financial Performance - The company achieved funds from operations (FFO) of $0.94 per share, which was in line with the Zacks Consensus Estimate and an increase from $0.92 per share a year ago [8] - The company has surpassed consensus revenue estimates four times over the last four quarters [1] - A quarter ago, the expected FFO was $0.93 per share, but the actual was $0.92, resulting in a surprise of -1.08% [2] Future Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and the company's FFO outlook [3][4] - Current consensus FFO estimate for the coming quarter is $0.94 on revenues of $380.75 million, and for the current fiscal year, it is $3.74 on revenues of $1.51 billion [12] Industry Context - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the bottom 38% of over 250 Zacks industries, indicating potential challenges for stock performance [6] - The company has underperformed the market with a loss of about 1.6% since the beginning of the year, compared to the S&P 500's gain of 13.8% [10][11]