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Sep 30, 2024
Brookdale Q3 2024 Earnings Report
Brookdale's performance reflected growth in occupancy and same community operating income, along with strategic transactions aimed at enhancing shareholder value.
Key Takeaways
Brookdale Senior Living Inc. reported increased occupancy and same community operating income, driven by resident fee growth. The company also highlighted strategic transactions and initiatives aimed at creating value for shareholders.
Consolidated weighted average occupancy grew 130 basis points year-over-year and 80 basis points sequentially.
Same community operating income increased 10.1% over the prior year period, excluding prior period grant income.
Net cash provided by operating activities increased 45% to $66.5 million.
Adjusted Free Cash Flow of $13.9 million was five times the amount for the prior year period.
Revenue by Segment
Forward Guidance
The Company is providing guidance for the fourth quarter 2024, expecting RevPAR year-over-year growth between 5.0% and 5.5% and Adjusted EBITDA between $93 million and $98 million.
Positive Outlook
- Expects RevPAR year-over-year growth of 5.0% to 5.5%.
- Projects Adjusted EBITDA between $93 million and $98 million.
- Anticipates cash facility operating lease payments to be approximately $56.0 million.
- Plans for full-year non-development capital expenditures to be approximately $180.0 million.
- Focus on strategic initiatives to drive growth and value creation.
Challenges Ahead
- Guidance excludes future acquisition or disposition activity.
- 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.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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