Medical Properties Trust (0JZZ.L) Q1 2025 Earnings Report

Medical Properties Trust Inc (0JZZ.L) reported Q1 2025 revenue of $223.8 million, a 17.5% YoY decline and a 3.5% QoQ decline. The company posted EBITDA of $72.65 million and operating income of $110.28 million, but recorded a net loss of $118.28 million (EPS -0.20) due to a large non-operating charge: total other income/expenses net of -$218.86 million. On the operating line, margins remained strong (gross margin ~96.9% and operating margin ~49.3%), reflecting the hospital real estate rental model, but the bottom line was materially pressured by high interest expense ($115.80 million) and sizable non-operating items. The quarter also showed a substantial improvement in year-over-year net income versus Q1 2024, but negative earnings persisted as of the period.