Medical Properties Trust Inc. (NYSE:MPW) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 03, 2018 • 10:00 am ET


Medical Properties Trust Inc. (NYSE:MPW) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Good day ladies and gentlemen and welcome to the Medical Properties Trust, First Quarter 2018 Earnings Conference Call. At this time all participants are in a listen-only mode. (Operator Instructions).

I'd now like to introduce your host for today's conference, Mr. Charles Lambert, Treasurer and Managing Director. Sir, please go ahead.

Charles Lambert

Thank you. Good morning everyone. Welcome to the Medical Properties Trust conference call to discuss our first quarter 2018 financial results. With me today are Edward K. Aldag, Jr., Chairman, President and Chief Executive Officer of the company; and Steven Hamner, Executive Vice President and Chief Financial Officer.

Our press release was distributed this morning and furnished on Form 8-K with the Securities and Exchange Commission. If you did not receive a copy, it is available on our website at in the Investor Relations section. Additionally, we're hosting a live webcast of today's call, which you can access in that same section. During the course of this call we will make projections and certain other statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause our financial results and future events to differ materially from those expressed and or underlying such forward-looking statements. We refer you to the company's reports filed with the Securities and Exchange Commission for a discussion of the factors that could cause the company's actual results or future events to differ materially from those expressed in this call.

The information being provided today is as of this date only and except as required by the federal security laws, the company does not undertake a duty to update any such information. In addition, during the course of the conference call we will describe certain non-GAAP financial measures, which should be considered in addition to and not in lieu of comparable GAAP financial measures. Please note that in our press release, Medical Properties Trust has reconciled all non-GAAP financial measures to the most directly comparable GAAP measures in accordance with Reg G requirements. You can also refer to our website at for the most directly comparable financial measures and related reconciliations.

I will now turn the call over to our Chief Executive Officer, Ed Aldag.

Edward Aldag

Thank you, Charles and good morning to you all. Thank you for listening in on our 2018 first quarter earnings call. Much of our first quarter was spent working on the two joint ventures we discussed with you over the last few earnings calls. We are close to finalizing these two transactions and as we have previously reported, we expect to be able to make some announcements during this quarter. While there can be no assurance until the documentation is actually signed, we are very pleased with where we are at this point.

We will save the details for the formal announcements with the completion of these joint ventures. We'll not only improve our already