The earnings call reflects a balanced outlook with notable successes in revenue growth and refinancing activities, especially in Europe and among new U.S. tenants. However, challenges remain, particularly with asset impairments related to Prospect's bankruptcy and operational issues in specific U.S. regions.

Company Guidance -

Q3 2025

During the Medical Properties Trust (MPT) Second Quarter 2025 Earnings Conference Call, the company provided guidance on several key metrics and strategic updates. MPT reported an increase in rental income from new tenants, rising from approximately $3.4 million in cash revenue in the first quarter to $11 million in the second quarter, with expectations to reach about $17 million by the third quarter. The company also highlighted a successful EUR 702 million refinancing transaction in Germany at a 5.1% fixed rate, reflecting strong investor interest in high-quality healthcare infrastructure. MPT aims to achieve a total annualized cash rent of over $1 billion by the end of 2026. The company noted improvements in EBITDARM coverage ratios across asset types, with specific mentions of Circle in the U.K. and Earnest Health in the U.S., both reporting increased coverage. Additionally, MPT's international and U.S. portfolios showed positive trends in admissions and surgical volumes, while the company remains focused on financial flexibility and liquidity to support its growth strategy.

Increased Rental Income from New Tenants

Rental income from new tenants increased from $3.4 million in Q1 to $11 million in Q2, and it is expected to reach $17 million by Q3 2025.

Successful Refinancing in Germany

A joint venture in Germany announced a EUR 702 million refinancing at a 5.1% fixed rate, demonstrating strong investor appetite for healthcare infrastructure.

Strong Performance in European Markets

Circle, Priory, and Median reported strong operational improvements, with Circle increasing EBITDARM coverage and Median showing year-over-year revenue and earnings growth.

U.S. Tenant Performance

LifePoint Health and Surgery Partners reported significant improvements, with LifePoint seeing an 18% increase in admissions and Surgery Partners showing EBITDARM coverage of approximately 7x.

Positive Transition in U.S. Market

Transitional U.S. portfolio ramping up performance and rent payments as expected, with Quorum Health current on 100% of its monthly rent.

Medical Properties (MPW) Earnings, Revenues Date & History

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MPW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.01 / -	-1.34	―	―	―
Jul 31, 2025	2025 (Q2)	>-0.01 / -0.16	-0.54	70.37% (+0.38)
May 01, 2025	2025 (Q1)	0.01 / -0.20	-1.23	83.74% (+1.03)	―
Feb 27, 2025	2024 (Q4)	-0.06 / -0.69	-1.11	37.84% (+0.42)	―
Nov 07, 2024	2024 (Q3)	0.02 / -1.34	0.19	-805.26% (-1.53)	―
Aug 08, 2024	2024 (Q2)	0.04 / -0.54	-0.07	-671.43% (-0.47)	―
May 09, 2024	2024 (Q1)	0.09 / -1.23	0.05	-2560.00% (-1.28)	―
Feb 21, 2024	2023 (Q4)	0.15 / -1.11	-0.24	-362.50% (-0.87)	―
Oct 26, 2023	2023 (Q3)	0.19 / 0.19	0.37	-48.65% (-0.18)
Aug 08, 2023	2023 (Q2)	0.22 / -0.07	0.32	-121.88% (-0.39)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MPW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$4.13	$4.12	-0.24%
May 01, 2025	$5.42	$5.05	-6.83%
Feb 27, 2025	$4.62	$5.41	+17.10%
Nov 07, 2024	$4.36	$4.31	-1.15%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.