Q1 25 EPS
$0.60
MISS 21.57%
Est. $0.77
Q1 25 Revenue
$395.2M
MISS 0.32%
Est. $396.5M
vs S&P Since Q1 25
-26.6%
TRAILING MARKET
GLPI +4.3% vs S&P +30.9%
Market Reaction
Did GLPI Beat Earnings? Q1 2025 Results
Gaming & Leisure Properties delivered a mixed first quarter for 2025, posting earnings per share of $0.60 against a consensus estimate of $0.77, a miss of 21.57%, even as revenue grew 5.1% year over year to $395.24 million, falling just 0.32% short o… Read more Gaming & Leisure Properties delivered a mixed first quarter for 2025, posting earnings per share of $0.60 against a consensus estimate of $0.77, a miss of 21.57%, even as revenue grew 5.1% year over year to $395.24 million, falling just 0.32% short of the $396.50 million analysts had expected. The headline EPS shortfall was largely attributable to rising credit loss provisions, which climbed to $39.25 million from $23.29 million a year earlier, alongside higher interest expense of $97.27 million. Still, the gaming REIT's preferred operating metrics told a more encouraging story, with AFFO rising 5.2% to $272.00 million and Adjusted EBITDA advancing 8% to $360.12 million. Strategic momentum remained intact, with Boyd Gaming extending key leases through 2031 and GLPI advancing its first-of-its-kind tribal financing arrangement for Acorn Ridge Casino. Despite the Bally's Chicago project facing a timeline push to 2027, management expressed continued confidence in the development. Looking ahead, GLPI narrowed its full-year 2025 AFFO guidance to $1.11 billion to $1.12 billion, or $3.84 to $3.87 per diluted share.
Key Takeaways
- • Record first quarter revenue, AFFO and Adjusted EBITDA
- • Total revenue rose 5.1% year over year to $395.2 million
- • AFFO grew 5.2% to $272.0 million
- • Adjusted EBITDA increased 8% to $360.1 million
- • Recent acquisitions and financing arrangements
- • Contractual rent escalators
- • Growing base of regional gaming operator tenants
GLPI YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
GLPI Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our record first quarter revenue, AFFO and Adjusted EBITDA highlight our long-term focus on aligning with the industry's top regional gaming operators, expanding and diversifying our portfolio of gaming assets, and supporting tenants with creative, comprehensive financing solutions, resulting in consistent predictability and growth of our rental cash flows and dividends. On an operating basis, first quarter total revenue rose 5.1% year over year to $395.2 million, AFFO grew 5.2% to $272.0 million and Adjusted EBITDA increased 8%.”
— Peter Carlino, Q1 2025 Earnings Press Release
GLPI Earnings Trends
GLPI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GLPI EPS Trend
Earnings per share: estimate vs actual
GLPI Revenue Trend
Quarterly revenue: estimate vs actual
GLPI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.82 | — | $420.0M | +0.71% |
| Q4 25 BEAT FY | $0.74 | $0.94 | +27.03% | $407.0M | +0.41% |
| FY Full Year | $2.79 | $2.95 | +5.69% | $1.59B | +0.10% |
| Q3 25 BEAT | $0.77 | $0.85 | +11.11% | $397.6M | -0.45% |
| Q2 25 MISS | $0.78 | $0.54 | -30.99% | $394.9M | -0.57% |
| Q1 25 MISS | $0.77 | $0.60 | -21.57% | $395.2M | -0.32% |