Global Net Lease (GNL) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Company Participants Jordyn Schoenfeld - SVP - IRMichael Weil - CEO, President & DirectorChristopher Masterson - Chief Financial OfficerJohn Kim - Managing Director - US Real EstateMitch Germain - MD - Real Estate ResearchMichael Gorman - Managing Director Conference Call Participants Upal Rana - Senior Equity Research Analyst - US REITs Operator Ladies and gentlemen, greetings, and welcome to Global Net Lease, Inc. First Quarter twenty ...

Financial Data and Key Metrics Changes - Brookdale Senior Living reported a consolidated RevPAR growth of 4.9% in Q1 2025, driven by an increase in weighted average occupancy [25][32] - Adjusted EBITDA for Q1 2025 was $124 million, representing a 27% increase year-over-year, exceeding internal expectations and analyst consensus [32] - Adjusted free cash flow turned positive at $4 million, a significant improvement from the previous year [32][33] Business Line Data and Key Metrics Changes - Same community RevPAR increased by 4.5% year-over-year, with a weighted average occupancy of 80% [28] - Same community expense per occupied unit rose by only 1.6%, indicating effective cost management relative to revenue growth [29] - Operating income margin for same communities expanded by 90 basis points to 29%, the highest in five years [30] Market Data and Key Metrics Changes - The company experienced a 3% increase in move-ins compared to the prior year, significantly above historical averages [25] - The weighted average occupancy increased by 140 basis points to 79.3% in Q1 2025, reflecting positive market dynamics [25] Company Strategy and Development Direction - The company is focused on improving operational performance, optimizing its real estate portfolio, and reducing leverage to enhance shareholder value [13][19] - A leadership transition is underway, with the board seeking a new CEO to drive operational improvements and strategic vision [9][10] - The company plans to exit 55 leased communities and divest 14 non-core owned communities by year-end 2025, aiming for 75% of its portfolio to be owned [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong start to 2025, raising annual guidance for RevPAR and adjusted EBITDA [24][39] - The company acknowledged macroeconomic uncertainties but remains confident in its strategic plans and operational improvements [95][99] - Management highlighted the importance of maintaining pricing power while balancing occupancy growth [62] Other Important Information - The company has appointed two new independent directors to enhance board expertise and oversight [12] - A focus on enhancing the quality of living environments for residents has led to multiple recognitions, including being named a "most loved workplace" by Newsweek [22] Q&A Session Summary Question: Can you elaborate on your pricing strategy? - Management indicated that pricing promotions are being piloted to boost occupancy while maintaining rate discipline [47][49] Question: What is the timeline for the impact of the First Impressions investment initiatives? - Management stated that targeted investments are expected to positively influence occupancy and rates, with budgeting for 2026 to begin later in the year [52][53] Question: How should we think about the seasonality of margins throughout the year? - Management explained that Q1 typically has the highest margins due to fewer workdays, with expected headwinds in Q2 from merit increases and additional workdays [58][60] Question: What initiatives are already contributing to better occupancy results? - Management noted that the SWAT teams and dynamic pricing strategies have been effective in improving occupancy [68][70] Question: What is the board prioritizing in the CEO search? - The board is looking for candidates with operational expertise and strategic vision to propel the company forward [90][91]

Coeur Mining (NYSE: CDE ) (TSX: CDM:CA ) is a fast-growing silver-gold producer, with high-quality assets, in my view. I believe that the company is at an inflection point now and must shift focus toward delivering profitability, reducing leverage, and returning capital to shareholders, afterI work on the buy-side in Fixed Income. In my spare time, I'm out here seeking alpha. When it comes to my investment outlook...I'm here to remind you to "Always Protect Your Nuts!" I have a special interest in the Minin ...