Financial Data and Key Metrics Changes - In Q3 2024, adjusted EBITDA grew 15% year-over-year to $92.2 million, which is roughly the midpoint of the previously provided guidance range [11][44] - Adjusted free cash flow for the third quarter was $14 million, an increase of $11 million compared to the prior year [48] - RevPAR increased by 5.9% over the prior year, with same-community RevPAR growing 5.6% [11][38] Business Line Data and Key Metrics Changes - The number of communities operating with the Brookdale HealthPlus program more than doubled, leading to improved clinical outcomes [8][21] - Same-community RevPOR grew 4.2%, which was an acceleration from the second quarter [16][39] - Labor expense as a percentage of revenue improved by 140 basis points compared to the prior year [40] Market Data and Key Metrics Changes - The company experienced a sequential occupancy growth of 80 basis points, which was better than historical seasonal trends [7][37] - Move-ins improved from the second quarter but remained below the prior year, primarily due to softness from two large paid third-party referral sources [12][70] - The industry experienced a sequential deceleration in average asking rent growth, while Brookdale's RevPOR growth accelerated [16][39] Company Strategy and Development Direction - The company is focused on returning to pre-pandemic occupancy levels while maintaining profitable occupancy growth [15][30] - Brookdale plans to acquire 41 communities to enhance cash flow and reduce exposure to escalating lease costs [24][26] - The strategic priorities for 2025 include maximizing occupancy, retaining top associates, and ensuring high-quality care [30][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future occupancy and adjusted EBITDA growth, despite challenges from third-party referral sources [18][34] - The company is committed to managing expenses while meeting resident needs and maintaining regulatory compliance [32][41] - Management noted that the competitive landscape has seen increased discounting, potentially influenced by external factors such as the presidential election [91] Other Important Information - The company successfully refinanced the majority of its debt maturities without extension options through 2026 [10][57] - Brookdale HealthPlus has shown significant clinical outcomes, including 80% fewer emergency room visits and 66% fewer hospitalizations compared to seniors living at home [21][99] - The company expects to close the acquisition transactions by year-end, which will be immediately accretive to adjusted free cash flow [54][55] Q&A Session Summary Question: Can you walk us through the income statement regarding the lease reclassification and its impact on 2025? - Management confirmed that the $8 million benefit to adjusted EBITDA in Q4 is a timing difference, with a corresponding increase in interest expense expected in 2025 [66][67] Question: What is the strategy regarding the pressured third-party referral sources? - Management clarified that the decline in move-ins from third-party sources is not cost-related and that they are implementing internal marketing strategies to offset this decline [70][74] Question: How should we interpret the RevPAR guidance and the competitive pricing environment? - Management indicated that while RevPAR is expected to grow, they anticipate a sequential decline in RevPOR due to changes in resident acuity [75][76] Question: What are the expectations for occupancy growth in Q4? - Management expects occupancy to increase sequentially, aligning with year-to-date RevPOR growth [84][85] Question: Can you elaborate on the impact of the Google algorithm change on third-party referrals? - Management noted that a recent Google algorithm change has negatively affected lead generation for one of the major third-party referral sources [87][88]

Core Insights - Brookdale Senior Living (BKD) reported a quarterly loss of $0.22 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.16, marking a 37.50% earnings surprise [1] - The company generated revenues of $784.17 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 0.18%, but showing an increase from $757.29 million year-over-year [2] - Brookdale's stock has increased by approximately 7.6% since the beginning of the year, underperforming compared to the S&P 500's gain of 21.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.14 on revenues of $785.4 million, and for the current fiscal year, it is -$0.57 on revenues of $3.13 billion [7] - The estimate revisions trend for Brookdale is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Medical - Nursing Homes industry, to which Brookdale belongs, is currently in the top 8% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------|----------------|----------------------|-------------------------|--------------|-----------------------------------------| | Date of Report (Date of earliest | event | reported) | October 8, | 2024 | | | | | Brookdale | Senior Living Inc. | | | ...

NASHVILLE, Tenn., Nov. 6, 2024 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) ("Brookdale" or the "Company") announced results for the quarter ended September 30, 2024. HIGHLIGHTS Third quarter consolidated weighted average occupancy grew 130 basis points over the prior year quarter and 80 basis points sequentially over the second quarter. Same community operating income increased 10.1% over the prior year period, when excluding prior period grant income, marking three years of consecutive quarter ...

NASHVILLE, Tenn., Oct. 23, 2024 /PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) plans to release its third quarter 2024 financial results after the market closes on Wednesday, November 6, 2024. The Company also plans to discuss the results on a conference call scheduled for Thursday, November 7, 2024, at 9:00 a.m. (ET). BROOKDALE SENIOR LIVING - EARNINGS CALL Date: Thursday, November 7, 2024 Time: 9:00 a.m. (ET) / 8:00 a.m. (CT) brookdaleinvestors.com Call Within US: +1 (800) 715-9871 Call Outside ...

Brookdale Senior Living Inc. (BKD) recently announced that its third-quarter 2024 weighted average occupancy grew 130 basis points (bps) from the year-ago level to 78.9%. The weighted average occupancy for the first and second quarters increased 160 bps year over year each. While its August 2024 weighted average occupancy grew 130 bps year over year to a new high (78.9%) for the company since it started on the recovery path in March 2021, the same for September grew 30 bps sequentially and 100 bps from a ye ...

September weighted average occupancy increased 30 basis points sequentially to 79.2%, while month end occupancy grew to 80.5%. September represents the Company's thirty-fifth consecutive month of year-over-year weighted average occupancy growth. Third quarter weighted average occupancy increased 130 basis points when compared to the third quarter of 2023, and 80 basis points when compared to the second quarter of 2024. Third quarter move-ins and move-outs were favorable sequentially to the second quarter. A ...

Brookdale Senior Living's (BKD, Financial) stock experienced significant volatility with a sharp drop of 5.04%. The stock currently trades at $5.65 per share, with a trading volume of 1.346 million shares, a turnover rate of 0.68%, and a price fluctuation of 5.88%. The company's latest financial report shows a revenue of $778 million and a net loss of $37.73 million, resulting in an earnings per share of -$0.17. The price-to-earnings ratio stands at -6.17. Of the four institutions providing ratings, 50% rec ...

Brookdale Senior Living (BKD, Financial) recently experienced a significant stock decline, with a drop of 5.14% in its share price. The current stock price is $6.28 per share, with a trading volume of 829,865 shares, and a turnover rate of 0.42%. The stock experienced a price swing of 4.68%. The company's latest financial report showed operating revenue of $778 million with a net loss of $37.73 million, translating to earnings per share of -$0.17. The price-to-earnings ratio stands at -6.85. Among the analy ...

Brookdale Senior Living Inc. (BKD) recently made significant financial and strategic moves to improve its capital structure and expand its real estate ownership. It has agreed to acquire 41 communities while taking debt refinancing measures. The company addressed 83% of its 2026 debt maturities through financing led by Deerfield Management. Let's delve deeper. BKD agreed to buy 41 senior living communities, currently leased through three triple-net lease portfolios, for a total price of $610 million. These ...