NYSE$VICI
VICI Properties Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
VICI Properties reported strong second-quarter results, marked by significant revenue growth and strategic expansions.
VICI Properties Inc. announced strong second quarter 2023 results, featuring a 35.5% year-over-year increase in total revenues to $898.2 million and a rise in net income attributable to common stockholders to $690.7 million, or $0.69 per share. The company expanded its international footprint with the acquisition of Century Casinos' gaming properties in Canada and updated its full-year 2023 AFFO guidance to between $2,130 million and $2,160 million, or between $2.11 and $2.14 per diluted share.
- Total revenues increased by 35.5% year-over-year to $898.2 million.
- Net income attributable to common stockholders rose to $690.7 million, or $0.69 per share, compared to a loss of $(57.7) million, or $(0.06) per share, in the previous year.
- AFFO attributable to common stockholders increased by 25.7% year-over-year to $540.4 million, with AFFO per share increasing by 11.9% to $0.54.
- The company expanded its international presence through the acquisition of four casino properties in Alberta, Canada and updated AFFO guidance for full year 2023.
Headline financials
Revenue & EPS history
VICI Properties · Revenue · Quarterly
$898M
Revenue by segment
VICI Properties · $898M total across 4 segments · Q2 2023
- Income from Sales-Type Leases$495M+32.0%55.2%
- Lease Financing and Loans$373M+42.6%41.5%
- Other Income$18.5M+19.0%2.1%
- Golf Revenues$11.1M+9.6%1.2%
Forward guidance
VICI Properties updated its AFFO guidance for the full year 2023 to between $2,130 million and $2,160 million, or between $2.11 and $2.14 per diluted share.
Tailwinds
- Estimated Adjusted Funds From Operations (AFFO) is projected to be between $2,130 million and $2,160 million.
- Estimated Adjusted Funds From Operations (AFFO) per diluted share is expected to be between $2.11 and $2.14.
- The guidance reflects the dilutive effect of pending shares related to forward sale agreements.
- The estimates reflect management’s view of current and future market conditions.
- Guidance represents AFFO per share attributable to common stockholders based solely on outstanding shares of VICI common stock.
Headwinds
- Guidance does not include the impact on operating results from any pending or possible future acquisitions or dispositions.
- Guidance does not include the impact from any capital markets activity.
- Guidance does not include the impact from other non-recurring transactions.
- The Company does not provide guidance for GAAP net income or a reconciliation of 2023 AFFO to GAAP net income.
- The estimates may be subject to fluctuations as a result of several factors and there can be no assurance that the Company’s actual results will not differ materially from the estimates.
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 Q2 2023
+0.0%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-1.0%
Avg return
30 days after
47%
16 / 34 earnings
Positive
+4.8%
Q3 2022
Best reaction
-7.5%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -2.0% | -1.5% | |
| Q4 2025 | +2.2% | -0.1% | -12.0% | |
| Q3 2025 | +1.9% | +2.2% | -2.4% | |
| Q1 2025 | -1.6% | -1.5% | -1.0% | |
| Q4 2024 | +1.7% | +5.3% | +2.5% | |
| Q3 2024 | -3.0% | -1.2% | +0.6% | |
| Q2 2024 | -0.3% | -2.1% | +6.6% | |
| Q1 2024 | +0.9% | +1.8% | +0.6% | |
| Q4 2023 | +1.3% | -0.9% | -2.8% | |
| Q3 2023 | -1.4% | -2.8% | +2.5% | |
| Q2 2023 | -2.8% | -4.1% | -7.1% | |
| Q1 2023 | -3.7% | -3.3% | -8.9% | |
| Q4 2022 | -0.5% | +0.2% | -7.2% | |
| Q3 2022 | +4.8% | +6.7% | +8.8% | |
| Q2 2022 | +2.8% | +4.0% | +2.3% | |
| Q1 2022 | -0.6% | -8.9% | +4.9% | |
| Q4 2021 | +0.8% | +2.4% | +0.0% | |
| Q3 2021 | -0.6% | -2.1% | -7.9% | |
| Q2 2021 | -2.4% | -3.3% | -3.8% | |
| Q1 2021 | +0.7% | +0.7% | -1.1% | |
| Q4 2020 | +2.4% | +3.6% | +2.6% | |
| Q3 2020 | +2.7% | +4.5% | +13.5% | |
| Q2 2020 | +4.6% | +6.2% | +11.0% | |
| Q1 2020 | -7.5% | -8.2% | +9.6% | |
| Q4 2019 | +2.5% | -2.8% | -55.2% | |
| Q3 2019 | +2.3% | +0.3% | +3.1% | |
| Q2 2019 | -2.4% | -3.0% | +3.1% | |
| Q1 2019 | +0.1% | -0.2% | -2.7% | |
| Q4 2018 | -0.9% | -1.2% | -0.1% | |
| Q3 2018 | -0.7% | +1.0% | +0.8% | |
| Q2 2018 | -2.3% | -0.7% | +4.5% | |
| Q1 2018 | +0.8% | +3.0% | +11.2% | |
| Q4 2017 | -0.1% | -0.1% | -6.8% | |
| Q3 2017 | -0.8% | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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