---
title: "Essential Properties Realty Trust 10-Q: Revenue $158.8M; Net income $59.95M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283727125.md"
description: "Essential Properties Realty Trust reported Q1 revenues of $158.8 million, a 22.8% increase year-over-year, with net income of $59.95 million, up $3.67 million from the previous year. Operating income was $89.6 million, including a $16.8 million impairment. The portfolio expanded to 2,417 properties, 99.7% occupied, with rental revenue rising 22.7% due to acquisitions. The weighted average lease term is 14.6 years, and 97.6% of leases include rent escalations, supporting stability."
datetime: "2026-04-22T21:31:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283727125.md)
  - [en](https://longbridge.com/en/news/283727125.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283727125.md)
---

# Essential Properties Realty Trust 10-Q: Revenue $158.8M; Net income $59.95M

Essential Properties Realty Trust reported quarterly total revenues of $158.8 million, a 22.8% increase year-over-year driven by portfolio growth, and net income of $59.95 million, up $3.67 million versus the prior-year quarter. Operating income was $89.6 million and included a $16.8 million impairment; a per-share net income figure was not provided in Part I, Items 1–2. The results reflect continued acquisition-driven scale and increased interest income from loan activity.

**Financial Highlights**

-   **Total revenues:** $158.8 million, up $29.4 million (22.8%) versus the prior-year quarter.
-   **Operating income:** $89.6 million (includes a $16.8 million impairment), up $10.0 million versus the prior-year quarter.
-   **Net income:** $59.95 million, up $3.67 million versus the prior-year quarter.
-   **Net income per share:** — (per-share figure not provided in Part I, Items 1–2).

**Business Highlights**

-   **Portfolio growth:** Expanded to 2,417 properties, 99.7% occupied, adding 277 rental properties year-over-year with annualized base rent (ABR) of $584.2 million.
-   **Revenue momentum drivers:** Rental revenue rose 22.7% year-over-year driven by acquisitions and larger portfolio scale; interest income from loans also increased.
-   **Investment sourcing:** Recent investments were 100% internally originated sale-leasebacks, with master leases comprising 65% of ABR to accelerate scale.
-   **Lease and asset quality:** Weighted average lease term of 14.6 years; 97.6% of leases include rent escalations; unit-level rent coverage ratio of 3.5x supports stability.
-   **Operational controls:** Approximately 99% of leases require unit-level financial reporting, enabling active asset management and proactive credit monitoring.

Original SEC Filing: ESSENTIAL PROPERTIES REALTY TRUST, INC. \[ EPRT \] - 10-Q - Apr. 22, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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