Capital Senior Living(US:SNDA)2025-11-10 13:28Financial Performance - Total portfolio community NOI grew approximately 21% in Q3 2025, driven by solid rent growth and strong results in the acquisition portfolio [3]. - Resident revenue increased by $17.6 million, or 26.3%, from Q3 2024 to Q3 2025, reaching $84.6 million [4][8]. - Adjusted EBITDA for Q3 2025 was $13.2 million, an increase of $3.1 million, or 30.7%, year-over-year [4]. - Resident revenue for Q3 2025 was $84,597,000, a 26.4% increase from $66,951,000 in Q3 2024 [26]. - Total revenues for the nine months ended September 30, 2025, reached $283,486,000, up 33.4% from $212,395,000 in the same period of 2024 [26]. - Net Operating Income for same-store communities was $16,087,000 for Q3 2025, compared to $15,679,000 in Q3 2024, reflecting a year-over-year increase of 2.6% [43]. - Resident revenue for same-store communities reached $58,928,000 in Q3 2025, up from $55,905,000 in Q3 2024, indicating a growth of 3.6% [43]. - Adjusted EBITDA for Q3 2025 was $13,159,000, compared to $10,073,000 in Q3 2024, representing a significant increase of 30.8% [46]. Losses and Expenses - The company reported a net loss attributable to shareholders of $26.9 million in Q3 2025, compared to a net loss of $13.8 million in Q3 2024 [4][15]. - Total expenses for Q3 2025 were $113,506,000, an increase of 42.5% from $79,662,000 in Q3 2024 [26]. - The Company reported a net loss of $27,348,000 for Q3 2025, compared to a net loss of $14,265,000 in Q3 2024 [46]. - General and administrative expenses for Q3 2025 were $10,529,000, an increase from $9,695,000 in Q3 2024 [43]. - Interest expense for Q3 2025 was $9,910,000, consistent with $9,839,000 in Q3 2024 [46]. - The Company incurred transaction, transition, and restructuring costs of $6,174,000 in Q3 2025, compared to $2,098,000 in Q3 2024, indicating increased operational adjustments [46]. Operational Metrics - Same-store portfolio occupancy reached 87.7% in Q3 2025, up 90 basis points from 86.8% in Q2 2025 [4]. - The Same-store community net operating income margin was 27.3% in Q3 2025, slightly down from 28.0% in Q3 2024 [43]. - The Company’s same-store community resident revenue for Q2 2025 was $58,524,000, showing stability in revenue generation [43]. Cash Flow and Debt - Cash flows from operations totaled $24.8 million for the nine months ended September 30, 2025, an increase of $23.4 million year-over-year [4]. - Cash flows from operating activities for the nine months ended September 30, 2025, were $24,764,000, significantly higher than $1,355,000 in the same period of 2024 [30]. - The company had $86.1 million of borrowings outstanding under its Credit Facility as of September 30, 2025, at a weighted average interest rate of 6.9% [16]. - Long-term debt as of September 30, 2025, was $663,408,000, an increase from $635,904,000 at the end of 2024 [28]. - The company reported a cash and cash equivalents balance of $16,961,000 as of September 30, 2025, slightly down from $16,992,000 at the end of 2024 [28]. Strategic Developments - The company entered into a strategic merger agreement with CNL Healthcare Properties, Inc., valued at approximately $1.8 billion, expected to close in early 2026 [5]. - The company acquired one senior housing community with 98 units in Texas in September 2025 [6]. Asset Management - The Company’s impairment of assets held for sale was $4,733,000 in Q3 2025, with no such costs reported in Q3 2024 [46]. - Total assets as of September 30, 2025, amounted to $854,821,000, compared to $841,921,000 as of December 31, 2024 [28]. - The weighted average common shares outstanding for Q3 2025 were 18,103,000, up from 15,456,000 in Q3 2024 [26].