Q4 25 EPS
$0.94
BEAT +27.03%
Est. $0.74
Q4 25 Revenue
$407.0M
BEAT +0.41%
Est. $405.4M
vs S&P Since Q4 25
-4.0%
TRAILING MARKET
GLPI +0.5% vs S&P +4.5%
Full Year 2025 Results
FY 25 EPS
$2.95
BEAT +5.69%
Est. $2.79
FY 25 Revenue
$1.59B
BEAT +0.10%
Est. $1.59B
Market Reaction
Did GLPI Beat Earnings? Q4 2025 Results
Gaming & Leisure Properties delivered a standout fourth quarter, reporting earnings per share of $0.94 against a consensus estimate of $0.74, a 27.03% beat, as revenue climbed 4.5% year over year to $407.03 million, edging past the $405.37 million es… Read more Gaming & Leisure Properties delivered a standout fourth quarter, reporting earnings per share of $0.94 against a consensus estimate of $0.74, a 27.03% beat, as revenue climbed 4.5% year over year to $407.03 million, edging past the $405.37 million estimate. The headline numbers were powered by a combination of recent acquisitions and a $46.95 million credit loss benefit that helped net income surge 23.1% year over year to $275.36 million in the quarter. Full-year 2025 revenue reached $1.59 billion, with AFFO of $1.12 billion, capping what management called a record year despite a challenging transaction environment. The company deployed approximately $876 million in capital across three new deals during 2025 and entered 2026 with a committed pipeline of roughly $2.60 billion at a blended cap rate above 8%, reinforcing confidence in the momentum ahead. For 2026, GLPI guided AFFO to a range of $1.21 billion to $1.22 billion, or $4.06 to $4.11 per diluted share, while the board declared a Q1 dividend of $0.78 per share.
Key Takeaways
- • Recent acquisitions and financing arrangements driving revenue growth
- • Expanding base of regional gaming operator tenants and tribal relationships
- • Strong lease coverage ratios across all five largest tenants
- • 4.5% year-over-year revenue growth and 7.5% AFFO growth in Q4
- • Credit loss benefit of $46.9 million in Q4 2025
- • New investments deployed at blended cap rates above 8-9%
GLPI YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
GLPI Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our record fourth quarter and full year 2025 results reflect recent acquisitions and financing arrangements and growth from our expanding base of leading regional gaming operator tenants and tribal relationships. Together, these factors are expected to drive accelerating growth in 2026. Long term tenant stability remains the bedrock of our approach to underwriting. To this end, lease coverage across each of our five largest tenants remains strong. On an operating basis, fourth quarter total revenue rose 4.5% year over year to $407.0 million, while AFFO grew 7.5% to $290.0 million. Our record results and the strength of our leases continue to highlight the diligence of our underwriting and our ability to deliver relationship-driven innovative financing solutions to current and prospective tenants.”
— Peter Carlino, Q4 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% |