EPR Properties (NYSE:EPR) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET

Company Participants

Brian Moriarty - VP of Corporate Communications

Greg Silvers - President and CEO

Greg Zimmerman - EVP and CIO

Mark Peterson - EVP and CFO

Conference Call Participants

Nick Joseph - Citigroup

RJ Milligan - Raymond James

John Massocca - Ladenburg Thalmann

Michael Carroll - RBC Capital Markets

Operator

Welcome to the Q1, 2022 EPR Properties Earnings Call. My name is Richard, and I’ll be your operator for today’s call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] As a reminder, the conference is being recorded.

I will now turn the call over to Brian Moriarty, Vice President, Corporate Communications. Mr. Moriarty, you may begin.

Brian Moriarty

Okay. Thank you, Richard. Thanks for joining us today for our first 2022 earnings call and webcast. Participants on today’s call are Greg Silvers, President and CEO; Greg Zimmerman, Executive Vice President and CIO; and Mark Peterson, Executive Vice President and CFO.

I will start the call by informing you that this call may include forward-looking statements as defined in the Private Securities Litigation Act of 1995, identified by such words as will be, intend, continue, believe, may, expect, hope, anticipate or other comparable terms. The company’s actual financial condition and the results of operations may vary materially from those contemplated by such forward-looking statements. Discussion of those factors that could cause results to differ materially from these forward-looking statements are contained in the company’s SEC filings, including the company’s reports on Form 10-K and 10-Q.

Additionally, this call will contain references to certain non-GAAP measures, which we believe are useful in evaluating the company’s performance. A reconciliation of these measures to the most directly comparable GAAP measures are included in today’s earnings release and supplemental information furnished to the SEC under Form 8-K. If you wish to follow along, today’s earnings release, supplemental and earnings call presentation are all available on the Investor Center page of the company’s website, www.eprkc.com.

Now, I will turn the call over to the company President and CEO, Greg Silvers.

Greg Silvers

Thank you, Brian. Good morning, everyone. And thank you for joining us on today's first quarter 2022 earnings call and webcast. With our first quarter results, we delivered consistent progress as our portfolio continued to recover. Rent collections have normalized and we realized strong collections under our rent deferral agreements, broadly supported by healthy tenant performance. These collections add to our strong liquidity position. We were also pleased that Fitch recognized our stabilization and disciplined leverage by upgrading both the company and our unsecured debt in March.