Financial Data and Key Metrics Changes - The company reported a same-store net operating income increase of 31% year-over-year and 19% sequentially, with operating margins expanding by 400 basis points to 28% [7][19] - Average occupancy for the second quarter improved by 220 basis points year-over-year to 86.2%, with June occupancy reaching 87.9% [5][17] - Revenue per occupied room (RevPOR) and revenue per available room (RevPAR) increased by 8.3% and 11.3% year-over-year, respectively [19] Business Line Data and Key Metrics Changes - The same-store owned portfolio achieved its highest occupancy in history, with a focus on improving underperforming communities [5][6] - Rate growth was driven by annual increases and a positive re-leasing spread, resulting in an 8.4% year-over-year rate growth [6][19] - Assisted living and memory care levels experienced double-digit rate increases, outpacing independent living [20] Market Data and Key Metrics Changes - The company continues to identify high-quality recently constructed communities for acquisition, deploying approximately 50millioninequity[10][12]−Themarketdynamicsindicateagrowingseniorpopulationagainstabackdropofreducedconstructionactivity,presentingopportunitiesforgrowth[16]CompanyStrategyandDevelopmentDirection−Thecompanyaimstoachieveaportfolio−wideoccupancyof9060 million year-over-year, focusing on deleveraging its balance sheet [24][25] Q&A Session Summary - No specific questions or answers were provided in the transcript, indicating the conclusion of the conference call without a Q&A segment [27]
Capital Senior Living(SNDA)2024-08-12 17:07