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Sep 30, 2024
Omega Healthcare Q3 2024 Earnings Report
Omega Healthcare reported Q3 2024 results, completed $834 million in new investments year-to-date, and increased full year adjusted FFO guidance.
Key Takeaways
Omega Healthcare Investors, Inc. announced its Q3 2024 results, featuring a net income of $115 million, or $0.42 per common share, and adjusted Funds From Operations (FFO) of $203 million, or $0.74 per common share. The company completed $440 million in new investments during the quarter and increased its full-year AFFO guidance to $2.84 to $2.86 per share.
Net income for the quarter was $115 million, or $0.42 per common share.
Nareit Funds From Operations (FFO) for the quarter was $196 million, or $0.71 per common share.
Adjusted Funds From Operations (AFFO) for the quarter was $203 million, or $0.74 per common share.
Completed $440 million in new investments in Q3, including real estate acquisitions and loans.
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
The Company increased its expected 2024 Adjusted FFO range to be between $2.84 to $2.86 per diluted share from the previous range of $2.78 to $2.84 per diluted share.
Positive Outlook
- Includes the annual impact of $834 million in new investments completed through October 2024.
- Includes $31 million in asset sales related to a portion of the $76 million in facilities classified as held for sale.
- Considers fourth quarter G&A expense of approximately $11.5 million to $13.5 million.
- Assumes no material changes in market interest rates.
- Assumes no additional operators are placed on a cash-basis for revenue recognition.
Challenges Ahead
- Excludes any additional acquisitions and asset sales.
- Excludes certain revenue and expense items.
- Excludes interest refinancing expenses.
- Excludes acquisition costs.
- Excludes capital market activity and additional provisions for credit losses, if any.
Revenue & Expenses
Visualization of income flow from segment revenue to net income