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Mar 31, 2023
Omega Healthcare Q1 2023 Earnings Report
Omega Healthcare's financial performance was in line with expectations, reflecting the impact of operator restructurings.
Key Takeaways
Omega Healthcare Investors reported a net income of $37 million, or $0.15 per common share, for the quarter ended March 31, 2023. The company's financial performance was in line with expectations, reflecting the impact of previously disclosed operator restructurings. The company completed $26 million in real estate acquisitions and $233 million in new investments.
Net income for the quarter was $37 million, or $0.15 per common share.
Nareit FFO for the quarter was $146 million, or $0.60 per common share.
Adjusted FFO for the quarter was $160 million, or $0.66 per common share.
The company completed $26 million in real estate acquisitions in Q1 and $233 million in new investments in Q2.
Omega Healthcare
Omega Healthcare
Omega Healthcare Revenue by Segment
Revenue by Segment
Tax & Lease Income Revenue
CapyFin.comReal Estate Loan Interest Revenue
CapyFin.comNon-RE Loan Interest Revenue
CapyFin.comMiscellaneous Income Revenue
CapyFin.com Forward Guidance
Omega expects financial performance to improve in coming quarters as restructurings conclude, restructured operators resume rent payments, and asset sale proceeds are redeployed, leading to improved dividend payout ratio and leverage.
Positive Outlook
- Restructurings are concluded.
- Restructured operators begin paying rent again.
- Proceeds from asset sales are redeployed.
- Dividend payout ratio rapidly improving as the year progresses.
- Leverage rapidly improving as the year progresses.
Challenges Ahead
- Additional unforeseen restructurings.
- Industry is still on the road to recovery and remains quite fragile.
- Labor challenges.
- Funding needs facing the industry.
- Impact on individual operators will vary.
Revenue & Expenses
Visualization of income flow from segment revenue to net income