Spirit Realty Capital, Inc. (NYSE:SRC) Q2 2022 Earnings Conference Call August 4, 2022 9:30 AM ET

Company Participants

Pierre Revol - SVP, Corporate Finance & IR

Jackson Hsieh - President, CEO & Director

Michael Hughes - EVP & CFO

Kenneth Heimlich - EVP & CIO

Conference Call Participants

Haendel St. Juste - Mizuho Securities

Harsh Hemnani - Green Street Advisors

Wesley Golladay - Robert W. Baird & Co.

Michael Goldsmith - UBS

John Massocca - Ladenburg Thalmann & Co.

Mitchell Germain - JMP Securities

Robert Stevenson - Janney Montgomery Scott

Greg McGinniss - Scotiabank

Joshua Dennerlein - Bank of America Merrill Lynch

Ronald Kamdem - Morgan Stanley

Operator

Thank you for standing by. This is the conference operator. Welcome to the Spirit Realty Capital's Second Quarter 2022 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Pierre Revol, Senior Vice President, Corporate Finance and Investor Relations. Please go ahead.

Pierre Revol

Thank you, operator, and thank you, everyone, for joining us for Spirit's Second Quarter 2022 Earnings Call. Presenting on today's call will be President and Chief Executive Officer, Jackson Hsieh; and Chief Financial Officer, Michael Hughes. Ken Heimlich, Chief Investment Officer, will be available for Q&A.

Before we get started, I would like to remind everyone that this presentation contains forward-looking statements. Although we believe these forward-looking statements are based upon reasonable assumptions, they are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those currently anticipated due to a number of factors. I'd refer you to the safe harbor statement in our most recent filings with the SEC for a detailed discussion of the risk factors relating to these forward-looking statements.

This presentation also contains certain non-GAAP measures. Reconciliation of non-GAAP financial measures to most directly comparable GAAP measures are included in the exhibits furnished to the SEC under Form 8-K, which includes our earnings release, supplemental information and investor presentation. These materials are also available on the Investor Relations page of our website.

For our prepared remarks, I'm now pleased to introduce Mr. Jackson Hsieh. Jackson?

Jackson Hsieh

Thanks, Pierre, and good morning, everyone. We had another productive quarter with the team performing well across multiple fronts. In the aggregate between acquisitions and dispositions, we completed over 50 transactions, and our operational metrics continued to demonstrate strong performance.

Starting with capital deployment. We invested $417 million, including 38 acquisition transactions, of which 31 were with existing Spirit relationships such as Life Time, Zips and off-lease only to name a few.