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Sep 30, 2021
Brookdale Q3 2021 Earnings Report
Announced results for the quarter ended September 30, 2021.
Key Takeaways
Brookdale's Q3 2021 shows positive momentum with sequential occupancy growth and increased liquidity due to the Health Care Services segment sale. The company also completed a convertible notes offering, demonstrating investor confidence.
Third quarter weighted average occupancy grew 200 basis points sequentially.
Liquidity increased $258 million to $646 million at September 30, 2021, reflecting the sale of 80% of the Company's equity in its Health Care Services segment.
On October 1, 2021, the Company issued $230 million principal amount of 2.00% convertible senior notes due 2026.
The Company achieved eight consecutive months of occupancy growth through October.
Forward Guidance
The Company expects Adjusted EBITDA for the fourth quarter of 2021 to be in the range of $35 million to $40 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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