Capital Senior Living (CSU) Reports Q2 CFFO of $0.45

Capital Senior Living (NYSE: CSU) reported Q2 CFFO of $0.45, versus $0.41 reported last year. Revenue for the quarter came in at $111 million versus the consensus estimate of $112.79 million.

“The Company once again achieved solid growth in our key performance metrics despite the heavy rain and flooding in Texas and the Midwest that impacted our traffic in May and early June. Our performance continues to demonstrate the advantages of our clear and differentiated strategy to drive superior shareholder value by successfully executing on our multiple avenues of growth,” said Lawrence A. Cohen, Chief Executive Officer of the Company. “We achieved a record number of move-ins in the last week of June and expect momentum in our occupancy to continue to build in the second half of the year, as the third and fourth quarters are seasonally our quarters of greatest occupancy growth.

“Complementing our growth is a robust acquisition pipeline that allows us to increase our ownership of high-quality senior living communities in geographically concentrated regions and generate meaningful increases in our key performance metrics and real estate value. We currently expect to close on the acquisition of three communities during the second half of 2016, and we continue to pursue additional opportunities.

“We believe that we are well positioned to create long-term shareholder value as a larger company with scale, competitive advantages and a substantially all private-pay business model in a highly fragmented industry that benefits from long-term demographics, need-driven demand, limited competitive new supply in our local markets, a strong housing market and a growing economy.”

For earnings history and earnings-related data on Capital Senior Living (CSU) click here.

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