Medical Properties Trust (MPT) Q2 FY2026 earnings: revenue $259 million, up 7.9% on the year

Medical Properties Trust Inc. (MPT) reported revenue of $259 million for Q2 FY2026, the quarter ended 30 June 2026, up 7.9% on the same quarter a year earlier. Net income was -$3 million, and diluted earnings per share $-0.01. The figures are the company's own, from the 10-Q it filed with the SEC on 10 August 2026.

Revenue$259 millionup 7.9%

Net income-$3 million

Diluted EPS$-0.01

QuarterQ2 FY2026ended 30 June 2026

What management said

Guidance figures: 1 raised, 3 new, 1 kept.

$2.4 billion refinancing announced, imminent close expected: Company announced private offering of $2.4 billion in secured notes to repay 2026 notes and approximately 50% of 2027 notes, with approximately $123 million discount captured and expected imminent close.
Refinancing significantly reduces debt maturities through 2028: The $2.4 billion transaction demonstrates company's commitment to debt reduction and significantly reduces debt maturing through 2028, addressing near-term refinancing needs and extending maturity profile.
Scion lease consolidated with Lifepoint for greater diversification: Company entered into arrangement consolidating Lifepoint and Lifepoint Behavioral leases into single amended master lease, providing increased diversification and enhanced credit profile.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	259	252	240	+7.9%
Cost of revenue	12.3	97.3	19.8	-37.9%
Gross profit	247	155	221	+12.0%
Gross margin	95.3%	61.4%	91.8%
Operating income	8.6	6.9	6.9	+25.1%
Operating margin	3.3%	2.7%	2.9%
Interest expense	135	133	130	+4.3%
Pre-tax income	7.8	0.3	-88.3	n/a
Income tax	10.1	-32.8	9.8	+2.8%
Effective tax rate	129.4%	-11516.5%	n/a
Net income	-2.6	32.8	-98.4	n/a
Net margin	-1.0%	13.0%	-40.9%
Diluted EPS	-$0.01	$0.05	-$0.16	n/a

$ million except per share.

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.

Cash flow and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	62.4	-14.3	51.7	+20.7%
Cash from investing	-82.3	-76.8	-72.3	n/a
Cash from financing	-8.3	-23.2	-155	n/a
Depreciation and amortisation	69.5	73.3	66.7	+4.1%
Share-based compensation	4.9	0.6	0.9	+467.2%
Dividend per share	$0.09	$0.09	$0.08	+12.5%
Diluted shares, weighted	598m	598m	601m	-0.5%
Shares outstanding at period end	597m	598m	601m	-0.7%

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	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	4,499	4,545	4,833	-6.9%
Non-controlling interest	1.1	1.1	1.1	+0.0%
Debt	9,705	9,663	9,649	+0.6%
Other liabilities	543	554	668	-18.7%
Total liabilities and equity	14,748	14,763	15,150	-2.7%
Cash and equivalents	397	425	510	-22.2%
Other assets	14,351	14,338	14,641	-2.0%
Total assets	14,748	14,763	15,150	-2.7%

Questions

What was Medical Properties Trust's revenue in Q2 FY2026?

Medical Properties Trust (MPT) reported revenue of $259 million for Q2 FY2026, the quarter ended 30 June 2026, up 7.9% on the same quarter a year earlier.

How much did Medical Properties Trust earn in Q2 FY2026?

Net loss for Q2 FY2026 was $3 million, and the diluted loss per share $0.01.

When did Medical Properties Trust report Q2 FY2026 results?

Medical Properties Trust filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 10 August 2026.

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	307	-122	271	267	226	232	224	240	238	270	252	259
Cost of revenue	28.8	n/a	40.9	4.3	7.8	21.1	81.4	19.8	n/a	11.4	97.3	12.3
Gross profit	278	n/a	230	262	218	211	142	221	n/a	259	155	247
Gross margin	91%	n/a	85%	98%	97%	91%	64%	92%	n/a	96%	61%	95%
Operating income	77.5	-335	48.9	19.9	-127	27.2	-5.5	6.9	-8.6	36.7	6.9	8.6
Operating margin	25%	n/a	18%	7%	-56%	12%	-2%	3%	-4%	14%	3%	3%
Interest expense	107	102	109	101	106	101	116	130	132	132	133	135
Pre-tax income	127	-660	-864	-305	-792	-403	-109	-88.3	-66.6	26.1	0.3	7.8
Tax rate	8%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	33%	-11516%	129%
Net income	117	-664	-876	-321	-801	-413	-118	-98.4	-77.7	17.3	32.8	-2.6
Net margin	38%	n/a	-323%	-120%	-355%	-178%	-53%	-41%	-33%	6%	13%	-1%
Diluted EPS	$0.19	-$1.11	-$1.46	-$0.54	-$1.34	-$0.69	-$0.20	-$0.16	-$0.13	$0.03	$0.05	-$0.01
Operating cash flow	158	135	74.3	35.3	59.2	76.7	0.4	51.7	18.6	160	-14.3	62.4
Shares outstanding	598m	599m	600m	600m	600m	600m	601m	601m	601m	597m	598m	597m
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. 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 30 June 2026, filed 10 August 2026, accession 0001193125-26-342583: the filing on EDGAR. All of Medical Properties Trust Inc.'s filings: EDGAR company page.

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