Gaming & Leisure Properties (GLPI) Q1 FY2026 earnings: revenue $420 million, up 6.3% on the year

Gaming & Leisure Properties, Inc. (GLPI) reported revenue of $420 million for Q1 FY2026, the quarter ended 31 March 2026, up 6.3% on the same quarter a year earlier. Net income was $232 million, up 40.3% on the year, and diluted earnings per share $0.82. The figures are the company's own, from the 10-Q it filed with the SEC on 23 April 2026.

Revenue$420 millionup 6.3%

Net income$232 millionup 40.3%

Diluted EPS$0.82

QuarterQ1 FY2026ended 31 March 2026

The quarter, against the one before and a year earlier

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Revenue	420	407	395	+6.3%
Operating income	333	363	259	+28.8%
Operating margin	79.4%	89.3%	65.5%
Interest expense	95.9	92.6	97.3	-1.5%
Pre-tax income	240	276	171	+40.4%
Income tax	0.6	0.6	0.6	-0.7%
Effective tax rate	0.2%	0.2%	0.3%
Net income	232	267	165	+40.3%
Net margin	55.2%	65.7%	41.8%
Diluted EPS	$0.82	$0.94	$0.60	+36.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Operating cash flow	270	343	252	+7.0%
Capital expenditure	111	n/a	12.9	+763.7%
Free cash flow	159	n/a	240	-33.7%
Free cash flow margin	37.8%	n/a	60.6%
Cash from investing	-854	-642	534	n/a
Cash from financing	634	-228	-1,080	n/a
Depreciation and amortisation	69.3	68.4	69.3	+0.0%
Share-based compensation	8.1	4.6	8.9	-8.5%
Dividends paid	221	221	209	+5.8%
Dividend per share	$0.78	$0.78	$0.76	+2.6%
Diluted shares, weighted	284m	280m	275m	+3.0%
Shares outstanding at period end	283m	283m	275m	+3.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2026	Q4 FY2025	Q1 FY2025	Change on the year
Shareholders' equity	4,635	4,626	4,215	+10.0%
Non-controlling interest	402	382	379	+6.0%
Debt	8,075	7,204	6,889	+17.2%
Other liabilities	654	698	649	+0.7%
Total liabilities and equity	13,765	12,910	12,133	+13.5%
Investments	n/a	0.0	0.0	n/a
Cash and equivalents	275	224	169	+62.6%
Other assets	13,491	12,685	11,964	+12.8%
Total assets	13,765	12,910	12,133	+13.5%

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	360	369	376	381	385	390	395	395	398	407	420	431
Operating income	268	295	258	293	271	308	259	242	337	363	333	332
Operating margin	75%	80%	69%	77%	70%	79%	65%	61%	85%	89%	79%	77%
Interest expense	79.8	82.9	86.7	86.7	95.7	97.8	97.3	89.9	94.1	92.6	95.9	101
Pre-tax income	190	218	180	215	191	224	171	157	249	276	240	236
Tax rate	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Net income	184	211	174	208	185	217	165	151	241	267	232	228
Net margin	51%	57%	46%	55%	48%	56%	42%	38%	61%	66%	55%	53%
Diluted EPS	$0.70	$0.78	$0.64	$0.77	$0.67	$0.79	$0.60	$0.54	$0.85	$0.94	$0.82	$0.80
Operating cash flow	253	263	258	252	270	292	252	293	240	343	270	350
Capital expenditure	12.7	0.1	0.0	7.1	8.9	n/a	12.9	21.1	57.3	n/a	111	n/a
Free cash flow	241	263	258	245	262	n/a	240	272	183	n/a	159	n/a
Dividends paid	192	197	206	206	209	209	209	209	221	221	221	221
Shares outstanding	267m	271m	272m	272m	274m	274m	275m	283m	283m	283m	283m	291m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2026, filed 23 April 2026, accession 0001575965-26-000048: the filing on EDGAR. All of Gaming & Leisure Properties, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install