Brookdale Senior Living (BKD) Misses Q4 EPS by 26c

Brookdale Senior Living (NYSE: BKD) reported Q4 EPS of ($0.49), $0.26 worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $986.6 million versus the consensus estimate of $1.01 billion.

Highlights:

• Achieved full year 2019 financial results within or better than original 2019 guidance ranges.
• Same community fourth quarter revenue increased 2.1% year-over-year.
• Same community fourth quarter weighted average occupancy improved 30 basis points on a sequential basis, better than the industry.
• In January 2020, acquired 26 previously leased communities, increasing the size of the Company's owned real estate portfolio.

Lucinda Baier, Brookdale's President and CEO, said, "I am pleased that we delivered financial results within or better than our 2019 guidance ranges. We are making great progress on the strategic plan we introduced in 2018. We achieved our goal of selling assets to generate $250 million of net proceeds. In addition, we recently completed significant transactions with Healthpeak to unlock the value of the unconsolidated CCRC venture. With another quarter of positive leading indicators and industry leading sequential occupancy growth, we are building momentum and are well positioned to achieve our five-year financial goal and create long-term shareholder value."

For earnings history and earnings-related data on Brookdale Senior Living (BKD) click here.

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