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Sep 30, 2023
Brookdale Q3 2023 Earnings Report
Brookdale announced results for the quarter ended September 30, 2023, showing growth in occupancy and RevPAR.
Key Takeaways
Brookdale Senior Living Inc. reported its third quarter 2023 results, highlighting growth in consolidated weighted average occupancy and same community weighted average occupancy. The company also saw increases in same community RevPAR and RevPOR. However, the net loss increased, and Adjusted EBITDA decreased compared to the same quarter last year.
Consolidated weighted average occupancy grew 110 basis points sequentially.
Same community weighted average occupancy grew 140 basis points year-over-year.
Same community RevPAR increased by 10.8% year-over-year.
Same community RevPOR increased by 8.9% year-over-year.
Revenue by Segment
Forward Guidance
The Company is providing guidance for the fourth quarter of 2023, expecting RevPAR year-over-year growth between 9.5% and 10.0% and Adjusted EBITDA between $77 million and $82 million.
Positive Outlook
- Expected RevPAR year-over-year growth of 9.5% - 10.0%.
- Anticipated Adjusted EBITDA of $77 million to $82 million.
- Focus on continuing the operational progress made over the course of the year.
- Continued lease of 10 communities from affiliates of LTC Properties, Inc.
- Landlord agreed to make available a pool to fund costs associated with certain capital expenditure projects
Challenges Ahead
- Reconciliation of non-GAAP financial measure included in the foregoing guidance to the most comparable GAAP financial measure is not available without unreasonable effort.
- Variability in the timing or amounts of items required to reconcile the measure may have a significant impact on the Company's future GAAP results.
- Guidance excludes future acquisition or disposition activity.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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