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Jun 30, 2022
Brookdale Q2 2022 Earnings Report
Announced second quarter 2022 results, demonstrating occupancy and RevPAR growth.
Key Takeaways
Brookdale Senior Living Inc. reported a strong second quarter with significant progress toward accelerating recovery. Consolidated revenue per available unit (RevPAR) increased 10.3% year-over-year, and consolidated weighted average occupancy increased 410 basis points year-over-year. The company also accepted approximately $60.0 million in Phase 4 Provider Relief Fund grants.
Second quarter consolidated revenue per available unit (RevPAR) increased 10.3% year-over-year.
Second quarter consolidated weighted average occupancy increased 410 basis points year-over-year.
Sequentially, net hires were more than 2.5 times higher and the use of contract labor decreased.
The Company accepted approximately $60.0 million in Phase 4 Provider Relief Fund grants on August 5, 2022.
Revenue by Segment
Forward Guidance
The Company updated its full year 2022 Adjusted EBITDA guidance to include approximately $60.0 million in Phase 4 Provider Relief Fund grants accepted on August 5, 2022, which it expects to recognize in income during the third quarter of 2022, and to incorporate year-to-date results and revised expectations for the remainder of 2022. The Company maintains its full year 2022 RevPAR growth guidance.
Positive Outlook
- Full Year 2022 RevPAR growth guidance maintained at 10% - 12%.
- Adjusted EBITDA guidance updated to $270 million - $290 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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