What guidance did Getty Realty's management provide for the next earnings period?

What factors drove the changes in Getty Realty's revenue and profit?

What were the key takeaways from Getty Realty’s earnings call?

What is Getty Realty's gross profit margin?

Did Getty Realty beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Getty Realty year over year?

What is the market's earnings forecast for Getty Realty next quarter?

What were the key takeaways from Getty Realty's earnings call?

- **Revenue Growth**: 10% Q3 AFFO per share increase to $0.62, driven by $236.8 million in strategic investments.
- **Dividend Expansion**: 3.2% dividend hike to $0.485, supported by 12-year streak of capital return.
- **Balance Sheet Strength**: 5.1x debt-to-EBITDA, $375 million liquidity, and no near-term debt maturities.
- **Strategic Shifts**: 70%+ of Q3 acquisitions in QSRs and travel centers, targeting fragmented $50B+ convenience retail market.
- **Risk Mitigation**: 8.8% G&A ratio and 2.6x tenant rent coverage ensure operational resilience.

**【CEO Summary Section】**
- Q3 2025 revenue growth driven by 10% increase in quarterly AFFO per share to $0.62, exceeding expectations.
- $236.8 million in year-to-date investments, including 12-unit travel center transaction with Now & Forever in Houston.
- 3.2% dividend increase to $0.485 per share, marking 12th consecutive year of growth.
- Expansion into drive-thru QSRs and travel centers, with 15 out of 24 Q3 acquisitions in the QSR sector.

**【CFO Financial Commentary】**
- GAAP net income of $420 million, with Non-GAAP EPS of $1.08, reflecting strong cost control (G&A ratio improved to 8.8%).
- Balance sheet strength: net debt-to-EBITDA of 5.1x, with $375 million liquidity and no debt maturities until 2028.
- AFFO guidance updated to $2.42-$2.43 for 2025, driven by $75 million committed investment pipeline.

**【Q&A Key Highlights】**
- Travel center strategy: 5,000+ U.S. locations, with top 3 operators owning only 30%, creating consolidation opportunities.
- Environmental liability reserves reduced by $23 million, reflecting tenant assumption of legacy site risks.
- 2026 pipeline includes $100 million+ in forward equity settlements and revolver utilization, with focus on accretive sale-leasebacks.
- Tenant health: 2.6x rent coverage ratio across 73% of ABR, with no material bad debt issues in 2025.

Getty Realty Corp. (GTY) Q3 2025 Earnings Call Transcript

Rental Properties

Interest on Notes and Mortgages Receivable

GTY

GTY fundamentals

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