Medical Properties Trust Q3 Earnings Meets Estimates; Boosts FY23 NFFO Outlook

(RTTNews) - Medical Properties Trust, Inc. (MPW) reported Thursday that net income attributable to stockholders for the third quarter declined to $116.71 million or $0.19 per share from $221.79 million or $0.37 per share in the prior-year quarter.

Normalized funds from operations or NFFO were $225.52 million or $0.38 per share, compared to $272.29 million or $0.45 per share in the year-ago quarter. Adjusted funds from operations were $0.30 per share, compared to $0.36 per share last year.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter decreased to $306.58 million from $352.34 million in the same quarter last year. Analysts expected revenue of $342.04 million for the quarter.

Looking ahead, Medical Properties Trust now projects net income in a range of $0.36 to $0.38 per share and NFFO in a range of $1.56 to $1.58 per share. The Street is looking for earnings of $0.36 per share for the year.

Previously, the company expected net income in the range of $0.33 to $0.37 per share and NFFO in the range of $1.53 to $1.57 per share.

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