Assisted Living (ALC) Up On Strong Results
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This morning Assisted Living (NYSE: ALC) reported strong results which is causing its stock to trade up 16% to $19.50. ALC reported Q2 EPS of $0.33, 5 cents better than the analyst estimate of $0.28. Revenue for the quarter was $57.4 million, versus the consensus of $58.64 million.
Assisted Living said margins expanded from 28.5% in the first quarter to 32.2% in the second quarter. Also, ALC is seeing improving occupancy trends.
"I am very pleased with our second quarter performance," commented Laurie Bebo, President and Chief Executive Officer of Assisted Living Concepts, Inc. "An upward trend in occupancy and careful expense management led us to impressive EBITDAR margins and gave us a strong starting point for the third quarter."
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