Q2 25 EPS
$1.28
BEAT +100.44%
Est. $0.64
Q2 25 Revenue
$430.8M
BEAT +3.49%
Est. $416.3M
vs S&P Since Q2 25
+2.8%
BEATING MARKET
WPC +16.4% vs S&P +13.6%
Market Reaction
Did WPC Beat Earnings? Q2 2025 Results
W. P. Carey delivered a standout second quarter, with non-GAAP AFFO per diluted share of $1.28 clearing the $0.64 consensus estimate by more than 100%, while total revenues of $430.78 million came in 3.49% above expectations and grew 11.6% year over … Read more W. P. Carey delivered a standout second quarter, with non-GAAP AFFO per diluted share of $1.28 clearing the $0.64 consensus estimate by more than 100%, while total revenues of $430.78 million came in 3.49% above expectations and grew 11.6% year over year. The primary engine behind the results was disciplined investment activity, with $548.60 million deployed in the quarter, including a $166.06 million sale-leaseback with Premium Brands Holdings and a $128.04 million warehouse acquisition leased to United Natural Foods, pushing year-to-date deployment to $1.10 billion. Lease revenues climbed to $364.19 million from $324.10 million a year ago, supported by rent escalations and 98.2% portfolio occupancy across 1,600 properties. On a GAAP basis, net income fell sharply to $51.22 million from $142.90 million, largely due to a $69.00 million mark-to-market loss on Lineage shares. Encouraged by its pipeline, the company raised full-year AFFO guidance to $4.87 to $4.95 per diluted share, reflecting 4.5% growth at the midpoint.
Key Takeaways
- • Accretive net investment activity with $548.6 million deployed in Q2 and $1.1 billion year to date
- • Contractual same-store rent growth of 2.3% on a constant currency basis
- • Comprehensive same-store growth of 4.0%
- • Lease revenues increased due to net investment activity and rent escalations
- • Income from finance leases and loans receivable increased from net investment activity
- • 98.2% occupancy rate maintained across net lease portfolio
- • 50% of ABR linked to CPI and 46% with fixed rent escalations
WPC YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
WPC Revenue by Segment
Business unit performance breakdown
“As we pass the midpoint of the year, we've built considerable momentum across our business, driven by strong investment activity and disciplined execution of our disposition strategy — enabling us to reinvest proceeds at attractive spreads. As a result, we've raised our outlook for investment volume and increased our AFFO guidance to a range of $4.87 to $4.95 per share, representing 4.5% year-over-year growth at the midpoint.”
— Jason Fox, Q2 2025 Earnings Press Release
WPC Earnings Trends
WPC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WPC EPS Trend
Earnings per share: estimate vs actual
WPC Revenue Trend
Quarterly revenue: estimate vs actual
WPC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 25 BEAT FY | $0.67 | $0.67 | +0.00% | $444.5M | +118.08% |
| FY Full Year | $1.62 | $2.11 | +30.64% | $1.72B | +0.84% |
| Q3 25 MISS | $0.64 | $0.64 | -0.59% | $431.3M | +1.53% |
| Q2 25 BEAT | $0.64 | $1.28 | +100.44% | $430.8M | +3.49% |
| Q1 25 BEAT | $0.60 | $1.17 | +95.55% | $409.9M | -0.70% |