Medical Properties Trust Q2 Earnings Top Estimates; Narrows FY23 NFFO Outlook Range

(RTTNews) - Medical Properties Trust, Inc. (MPW) reported Tuesday a second-quarter net loss attributable to stockholders of $42.04 million or $0.07 per share, compared to net income of $189.60 million or $0.32 per share in the prior-year quarter.

Normalized funds from operations or NFFO were $285.31 million or $0.48 per share, compared to $274.70 million or $0.46 per share in the year-ago quarter. Adjusted funds from operations were $0.41 per share, compared to $0.35 per share last year.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter increased to $337.40 million from $400.23 million in the same quarter last year. Analysts expected revenue of $351.38 million for the quarter.

Looking ahead, Medical Properties Trust now projects net income in a range of $0.33 to $0.37 per share and NFFO in a range of $1.53 to $1.57 per share. The Street is looking for earnings of $0.80 per share for the year.

Previously, the company expected net income in the range of $0.06 to $0.17 per share and NFFO in the range of $1.50 to $1.61 per share.

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