•
Mar 31, 2024
Omega Healthcare Q1 2024 Earnings Report
Omega Healthcare's financial performance exceeded expectations due to higher interest income and early cash payments related to a turnaround asset, while operating fundamentals showed improvement.
Key Takeaways
Omega Healthcare Investors reported a net income of $69.3 million, or $0.27 per common share, for Q1 2024, compared to $36.8 million, or $0.15 per common share, for Q1 2023. The company completed $75 million in new investments and repaid $42 million in HUD mortgage loans. Revenues for the quarter totaled $243.3 million, an increase of $25.1 million over the same period in 2023.
Net income for the quarter was $69 million, or $0.27 per common share.
Nareit FFO for the quarter was $153 million, or $0.60 per common share.
Adjusted FFO for the quarter was $176 million, or $0.68 per common share.
Completed $75 million in Q1 new investments.
Omega Healthcare
Omega Healthcare
Omega Healthcare Revenue by Segment
Forward Guidance
The Company affirmed that it expects its 2024 Adjusted FFO to be between $2.70 and $2.80 per diluted share.