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Dec 31, 2024
Brookdale Q4 2024 Earnings Report
Brookdale Senior Living Inc. reported a significant improvement in financial and operational metrics for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Brookdale Senior Living Inc. achieved strong financial and operational improvements in Q4 2024, with consolidated revenue per available unit increasing by 5.5%, weighted average occupancy growing by 100 basis points, and Adjusted EBITDA improving by nearly 16% year-over-year, exceeding guidance.
Fourth quarter consolidated revenue per available unit (RevPAR) increased 5.5% over the prior year quarter, reaching the top end of guidance.
Consolidated weighted average occupancy grew 100 basis points year-over-year in Q4, driven by strong move-in volume.
Net income (loss) improved by nearly 8% and Adjusted EBITDA increased by nearly 16% year-over-year, surpassing guidance.
Net cash provided by operating activities increased 54% and Adjusted Free Cash Flow improved 46% compared to the prior year quarter.
Revenue by Segment
Forward Guidance
For the full year 2025, Brookdale Senior Living Inc. expects RevPAR year-over-year growth between 4.75% and 5.75%, and Adjusted EBITDA between $430.0 million and $445.0 million.
Positive Outlook
- Expected RevPAR year-over-year growth of 4.75% to 5.75% for FY 2025.
- Anticipated Adjusted EBITDA of $430.0 million to $445.0 million for FY 2025.
- Guidance includes previously announced acquisition and disposition activity.
- Continued focus on profitable occupancy growth and appropriate expense management.
- Completed and pending acquisitions of leased portfolios and beneficial negotiation of recent lease amendments.
Challenges Ahead
- Guidance assumes an October 1, 2025 disposition date for all 55 Ventas non-renewal communities.
- Reconciliation of non-GAAP financial measures to GAAP is not available without unreasonable effort.
- Variability in timing or amounts of items may significantly impact future GAAP results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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