W. P. Carey (WPC) Misses Q1 EPS by 43c, Revenues Miss

W. P. Carey (NYSE: WPC) reported Q1 EPS of $0.29, $0.43 worse than the analyst estimate of $0.72. Revenue for the quarter came in at $306.17 million versus the consensus estimate of $307.46 million.

MANAGEMENT COMMENTARY

"The first quarter provided a strong start to the year on a number of fronts — most notably the strength of our investment activity — allowing us to raise our guidance," said Jason Fox, Chief Executive Officer of W. P. Carey. "Furthermore, the debt issuances we completed during the first quarter locked in our lowest ever coupon rates, both in the U.S. and Europe. Given our cost of capital and liquidity, we're poised to accelerate externally driven growth, executing on the strongest pipeline we've seen in years. And with one of the best-positioned net lease portfolios for embedded rent growth, we could see further long-term upside in an inflationary environment."

For earnings history and earnings-related data on W. P. Carey (WPC) click here.

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