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Dec 31, 2023
Brookdale Q4 2023 Earnings Report
Announced results for the quarter and full year ended December 31, 2023.
Key Takeaways
Brookdale's Q4 2023 results showed an increase in resident fee revenue and Adjusted EBITDA, driven by improvements in RevPAR and occupancy. The company also completed financing transactions to refinance its 2024 debt maturities.
Resident fee revenue increased due to growth in RevPOR and occupancy.
Facility operating expense decreased primarily due to a decrease in natural disaster expense.
Net loss increased, mainly attributable to a non-cash gain on sale of communities recognized in Q4 2022 and an increase in asset impairment expense.
Adjusted EBITDA increased, driven by higher resident fee revenue, partially offset by a change in lease payment classification.
Revenue by Segment
Forward Guidance
The Company is providing first quarter 2024 guidance of RevPAR year-over-year growth of 6.25% - 6.75% and Adjusted EBITDA of $90 million to $95 million. The Company expects its full-year 2024 non-development capital expenditures, net of anticipated lessor reimbursements, to be approximately $180.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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