NYSE$EPR
EPR Properties · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
EPR Properties reported results for the third quarter of 2020, showing a net loss but improvements in cash collections and property openings.
EPR Properties reported a net loss of $91.938 million for the third quarter of 2020. However, cash collections from customers improved, and the company maintained a strong liquidity position with nearly $1.0 billion in cash on hand. The company also extended covenant waivers on its bank credit facilities.
- Cash collections from customers continued to improve, reaching 48% of contractual cash revenue in September.
- Approximately 93% of non-theatre properties and 63% of theatre properties were open as of November 3, 2020.
- The company had nearly $1.0 billion of cash on hand at quarter-end.
- Waivers of certain covenants related to the company’s bank credit facilities have been extended through December 31, 2021.
Headline financials
Revenue & EPS history
EPR · Revenue · Quarterly
$63.9M
Revenue by segment
EPR · $63.9M total across 3 segments · Q3 2020
- Rental revenue$55.6M—87.0%
- Mortgage and financing income$8.1M—12.7%
- Other income$182K—0.3%
Forward guidance
EPR Properties focuses on liquidity and property openings amidst the COVID-19 pandemic, with extended debt covenant waivers providing flexibility. Uncertainty remains, particularly around theatre reopenings, but the company is encouraged by customer recovery and a stable balance sheet.
Tailwinds
- Strong liquidity position with nearly $1.0 billion of cash on hand.
- Collections from customers are ramping up.
- Property openings are increasing.
- Extension of covenant waivers provides additional flexibility.
- Rent resolution reached with the vast majority of customers.
Headwinds
- Continued uncertainty around the timing of a widespread reopening of theatres.
- Theatre customers facing challenges due to state and local restrictions and movie release delays.
- Additional deferral agreements being negotiated with certain theatre customers.
- Write-offs of accounts receivable due to placing two customers on cash basis.
- Restrictions on paying dividends on common shares during the covenant relief period.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
-0.3%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+0.7%
Avg return
30 days after
44%
30 / 68 earnings
Positive
+7.8%
Q2 2012
Best reaction
-7.8%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.7% | +3.3% | +1.7% | |
| Q4 2025 | +4.2% | +2.6% | -16.5% | |
| Q3 2025 | -5.9% | -5.0% | +0.3% | |
| Q1 2025 | +2.4% | +1.0% | +9.6% | |
| Q4 2024 | +1.6% | +3.2% | +0.8% | |
| Q3 2024 | -3.1% | -3.3% | -3.1% | |
| Q2 2024 | -1.0% | -4.8% | +3.8% | |
| Q1 2024 | +3.7% | +2.7% | +1.1% | |
| Q4 2023 | -1.0% | +1.2% | +2.3% | |
| Q3 2023 | -1.3% | -0.1% | +9.9% | |
| Q2 2023 | -4.4% | -3.0% | -0.4% | |
| Q1 2023 | +2.4% | +2.4% | +2.3% | |
| Q4 2022 | +1.2% | -1.4% | -15.2% | |
| Q3 2022 | -2.0% | +0.1% | +6.3% | |
| Q2 2022 | -1.1% | -2.5% | -19.2% | |
| Q1 2022 | +1.4% | -3.3% | -3.8% | |
| Q4 2021 | +4.2% | +6.7% | +12.4% | |
| Q3 2021 | -1.1% | -1.7% | -15.1% | |
| Q2 2021 | -2.3% | -4.3% | -5.0% | |
| Q1 2021 | +0.4% | -0.2% | +8.3% | |
| Q4 2020 | -3.9% | +1.2% | +1.4% | |
| Q3 2020 | -2.1% | +31.4% | +32.9% | |
| Q2 2020 | -0.4% | +9.7% | +13.7% | |
| Q1 2020 | -5.0% | -1.3% | +59.4% | |
| Q4 2019 | -3.8% | -13.2% | -60.8% | |
| Q3 2019 | -1.0% | -1.0% | -8.6% | |
| Q2 2019 | -0.6% | -2.1% | +4.8% | |
| Q1 2019 | +0.2% | +0.6% | -0.5% | |
| Q4 2018 | -1.0% | -2.9% | +3.3% | |
| Q3 2018 | +3.6% | +2.0% | +6.7% | |
| Q2 2018 | +1.1% | +4.6% | +6.7% | |
| Q1 2018 | +3.6% | +4.3% | +8.3% | |
| Q4 2017 | -7.8% | -3.9% | -4.0% | |
| Q3 2017 | -3.1% | -1.8% | -4.8% | |
| Q2 2017 | +0.5% | -0.8% | +1.0% | |
| Q1 2017 | -3.3% | -3.3% | -2.3% | |
| Q4 2016 | -1.3% | -2.6% | -5.4% | |
| Q3 2016 | -2.8% | -1.1% | -1.7% | |
| Q2 2016 | -0.8% | -1.7% | -3.2% | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +3.2% | — | — | |
| Q3 2015 | +1.4% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | -0.9% | — | — | |
| Q4 2014 | -3.1% | — | — | |
| Q3 2014 | -1.7% | — | — | |
| Q2 2014 | -3.2% | — | — | |
| Q1 2014 | -1.0% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q3 2013 | +0.9% | — | — | |
| Q2 2013 | +0.9% | — | — | |
| Q1 2013 | -1.0% | — | — | |
| Q4 2012 | +3.1% | — | — | |
| Q3 2012 | +2.9% | — | — | |
| Q2 2012 | +7.8% | — | — | |
| Q1 2012 | +1.7% | — | — | |
| Q3 2011 | +1.2% | — | — | |
| Q2 2011 | -5.9% | — | — | |
| Q1 2010 | -1.1% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q4 2008 | -5.4% | — | — | |
| Q4 2010 | -5.4% | — | — | |
| Q3 2009 | +5.5% | — | — | |
| Q3 2010 | +5.5% | — | — | |
| Q2 2009 | -1.6% | — | — | |
| Q2 2010 | -1.6% | — | — | |
| Q4 2009 | -1.6% | — | — |
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