Overview
- Revenue reached slightly over $1.47 billion, up about 10% year over year and ahead of the $1.46 billion consensus.
- GAAP net income rose roughly 21% to almost $316 million, or $0.35 per share, a penny below profit expectations.
- Adjusted funds from operations increased 8% to nearly $992 million, or $1.08 per share.
- Management guided 2025 net income per share to $1.27–$1.29, down from $1.29–$1.33, and narrowed adjusted FFO to $4.25–$4.27 from $4.24–$4.28.
- Shares slipped following the release, opening Tuesday about 0.7% lower and falling a further 2.8% during the session.