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Jun 30, 2024
Omega Healthcare Q2 2024 Earnings Report
Omega Healthcare's financial performance showed strong sequential improvement due to accretive investments and portfolio restructurings.
Key Takeaways
Omega Healthcare Investors reported a net income of $117 million, or $0.45 per common share, for the second quarter of 2024. The company completed $221 million in new investments and increased its full-year AFFO guidance to $2.78-$2.84 per share.
Net income for the quarter was $117 million, or $0.45 per common share.
Nareit FFO for the quarter was $189 million, or $0.72 per common share.
Adjusted FFO for the quarter was $185 million, or $0.71 per common share.
Completed $221 million in new investments during the quarter.
Forward Guidance
Omega Healthcare increased its 2024 adjusted FFO guidance to be between $2.78 and $2.84 per share from its previous guidance of between $2.70 and $2.80 per share.
Positive Outlook
- Includes the annual impact of $648 million in new investments completed through July 2024
- Assumes quarterly G&A expense of approximately $11.5 million to $13.5 million in Q3 and Q4
- Includes $77 million in asset sales
- Assumes timely completion of anticipated operator restructurings and transitions
- Assumes no material changes in market interest rates
Challenges Ahead
- Excludes additional acquisitions and asset sales
- Excludes certain revenue and expense items
- Excludes interest refinancing expense
- Excludes additional capital transactions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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