Orion Properties Inc. (ONL) Q2 2026 Earnings Call Transcript

Orion Properties Inc. (ONL) Q2 2026 Earnings Call August 7, 2026 10:00 AM EDT Company Participants Paul Hughes - General Counsel & Secretary Paul McDowell - CEO, President & Director Gavin Brandon - Executive VP, CFO & Treasurer Christopher Day - COO & Executive VP Conference Call Participants Mitch Germain - Citizens JMP Securities, LLC, Research Division Matthew Erdner - JonesTrading Institutional Services, LLC, Research Division Presentation Operator Greetings. Welcome to Orion Properties Second Quarter 2026 Earnings Call. As a reminder, this conference is being recorded. I would now like to turn the call over to Paul Hughes, General Counsel. Thank you. You may begin. Paul Hughes General Counsel & Secretary Thank you, and good morning, everyone. Yesterday, Orion released its results for the quarter ended June 30, 2026, filed its Form 10-Q with the Securities and Exchange Commission and posted its earnings supplement to its website at onlreit.com. During the call today, we will be discussing Orion's guidance estimates for calendar year 2026 and other forward-looking statements, which are based on management's current expectations that are subject to certain risks that could cause actual results to differ materially from our estimates. These risks are discussed in our earnings release as well as in our Form 10-Q and other SEC filings and Orion undertakes no duty to update any forward-looking statements made during this call. We will also be discussing non-GAAP financial measures, such as funds from operations or FFO, and core funds from operations, or core FFO. These non-GAAP financial measures are not a substitute for financial information presented in accordance with GAAP and Orion's earnings release and supplement include a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP measure. Hosting the call today are Orion's Chief Executive Officer, Paul McDowell; and Chief Financial Officer, Gavin Brandon. Joining us for the Q&A session will be Chris