Gaming and Leisure Properties (GLPI) Tops Q1 EPS by 5c; offers guidance

Gaming and Leisure Properties (NASDAQ: GLPI) reported Q1 EPS of $0.82, $0.05 better than the analyst estimate of $0.77. Revenue for the quarter came in at $420 million versus the consensus estimate of $417.27 million.

2026 Guidance

Reflecting the current operating and competitive environment, the Company is updating its AFFO guidance for the full year 2026 based on the following assumptions and other factors:

The guidance does not include the impact on operating results from any possible future acquisitions or dispositions, future capital markets activity, or other future non-recurring transactions other than additional development fundings of approximately $590 million to $640 million, which will be funded relatively evenly by quarter throughout the remainder of 2026, bringing total development spend to $750 million to $800 million for 2026; $225 million of funding for PENN's Aurora facility on or about June 24, 2026; and, the anticipated settlement of $363.3 million of our forward equity sale agreement on June 1, 2026 subject to certain contractual adjustments.
The guidance assumes there will be no material changes in applicable legislation, regulatory environment, world events, including weather, recent consumer trends, economic conditions, oil prices, competitive landscape or other circumstances beyond our control that may adversely affect the Company's results of operations.

The Company estimates AFFO for the year ending December 31, 2026 will be between $1.212 billion and $1.223 billion, or between $4.08 and $4.12 per diluted share and OP/LTIP units. GLPI's prior guidance contemplated AFFO for the year ending December 31, 2026 of between $1.207 billion and $1.222 billion, or between $4.06 and $4.11 per diluted share and OP/LTIP units.

For earnings history and earnings-related data on Gaming and Leisure Properties (GLPI) click here.

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