Filing Flows › Essential Properties Realty Trust (EPRT) › Q1 2026
Essential Properties Realty Trust (EPRT) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
Essential Properties Realty Trust (EPRT) reported revenue of $159M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +6% from the quarter before. Operating margin was 56.5%, net earnings $59.8M (37.7% of revenue).
Essential Properties Realty Trust, Q1 2026: revenue $159M (+23% year over year), operating margin 56.5%, net earnings $59.8M, operating cash flow $99.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $159M | +6% | +23% |
| Operating profit | $89.6M | -9% | +13% |
| Net earnings | $59.8M | -12% | +7% |
| Operating cash flow | $99.8M | -5% | +29% |
What changed
Revenue was $158.8M in Q1 2026, up 23% year over year and up 6% from the previous quarter.
Operating profit was $89.6M, a 56.5% margin (down 5.1 points year over year). Of the extra revenue versus Q1 2025, 34% reached operating profit, below the 62% margin then. Total costs grew 39% against revenue growth of 23%. The fastest-growing cost line was Other operating costs (+49%). Net earnings were $59.8M, up 7% year over year. The effective tax rate was 0.3%.
Operating cash flow was $99.8M (up 29% year over year), 166% of net earnings. Non-cash charges added back $41.2M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items used $5.6M. Capital expenditures of $311.0M exceeded it, leaving free cash flow of −$211.2M.
Questions
What was Essential Properties Realty Trust's revenue in the first quarter 2026?
Essential Properties Realty Trust (EPRT) reported revenue of $159M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +6% from the quarter before.
Was Essential Properties Realty Trust profitable in the first quarter 2026?
Operating profit was $89.6M (56.5% of revenue) and net earnings $59.8M.
Source: Essential Properties Realty Trust 10-Q on SEC EDGAR.