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Gaming and Leisure (GLPI)
NASDAQ:GLPI
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.75Last Year’s EPS
0.6Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a constructive growth narrative: clear near-term AFFO guidance, multiple completed and active transactions (Bally’s Lincoln, Cordish Virginia), a deep development pipeline, and solid rent coverage metrics. Management emphasized a healthy balance sheet and funding optionality (forward equity, ATM availability, internal free cash flow) to support $575–$650 million of anticipated 2026 development spend. Headwinds and risks include equity valuation pressure (stock trading at a discount), short-term use of revolver capacity and resulting variable-rate exposure, timing uncertainty of partner-funded projects, rising exposure to large tenants and some non-cash accounting items that partially offset cash gains. Overall, the positive operational and financial milestones and explicit guidance outweighed the risks discussed.Company Guidance
AFFO Guidance for 2026
Company provided 2026 AFFO guidance between $1.207 billion and $1.222 billion, or $4.06 to $4.11 per diluted share and OP unit; guidance includes anticipated development fundings of ~$575 million to $650 million and does not assume future transactions.
Robust Development Pipeline and Deployable Capital
Management emphasized a multi-year, deep pipeline (discussed as ~$2.0–$2.6 billion of future capital commitments, with ~$700 million recently completed) and stated balance sheet optionality to fund projects without near-term equity issuance; forward equity settlement of $363 million expected on 06/01/2026 and Penn Aurora acquisition (~$225 million) expected late 2026.
Notable Acquisitions and Commitments
Closed acquisition of Bally’s Lincoln real estate for $700 million at an accretive 8% cap rate; closed the real estate related to Cordish Live! Virginia with GLPI committing an incremental ~$440 million toward development.
Progress on Major Developments (Bally’s Chicago)
Bally’s Chicago estimated >20% complete with hotel structure ~21 of 34 floors, curtain wall underway; roughly $740 million remains to be funded as of 12/31 and the project remains on schedule for a first-half 2027 opening.
Improved Cash Income and Operating Expense Reduction
Total income from real estate for 2025 exceeded 2024 by over $17 million, driven by cash rent increases of more than $23 million (acquisitions and escalators). Operating expenses decreased by $37.8 million, primarily due to a non-cash adjustment in the provision for credit loss.
Strong Rent Coverage on Master Leases
Management reported rent coverage ratios on master leases ranging from ~1.69x to 2.6x (four-wall coverage examples cited as north of ~1.9x in specific cases), and emphasized underwriting focused on four-wall coverage rather than relying solely on corporate credit.
Tribal & Other Development Momentum
Development activity includes the imminent grand opening of Ione Band Acorn Ridge and ongoing work at Caesars Republic Sonoma; GLPI signaled continuing productive discussions with tribes and interest in tribal financing structures (e.g., Dry Creek).
GLPI Earnings History
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
GLPI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $47.35 | $47.25 | -0.21% |
Oct 30, 2025 | $41.96 | $43.84 | +4.49% |
Jul 24, 2025 | $45.54 | $45.09 | -1.00% |
Apr 24, 2025 | $46.58 | $45.35 | -2.63% |
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.
FAQ
When does Gaming and Leisure (GLPI) report earnings?
Gaming and Leisure (GLPI) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is Gaming and Leisure (GLPI) earnings time?
Gaming and Leisure (GLPI) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GLPI EPS forecast?
GLPI EPS forecast for the fiscal quarter 2026 (Q1) is 0.75.