Welltower (WELL) Tops Q2 EPS by 23c, Revenues Miss
Get Alerts WELL Hot Sheet
Join SI Premium – FREE
Welltower (NYSE: WELL) reported Q2 EPS of $0.42, $0.23 better than the analyst estimate of $0.19. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.21 billion.
Recent Highlights
- Reported net income attributable to common stockholders of $0.42 per diluted share
- Reported normalized FFO attributable to common stockholders of $0.86 per diluted share
- Completed $949 million of pro rata Seniors Housing Operating and Outpatient Medical dispositions at a blended yield of 5.7%
- As of July 31, 2020 enhanced near-term liquidity profile to $4.3 billion including $1.3 billion of cash and cash equivalents
- Appointed Diana Reid, an accomplished commercial banking and real estate executive, having served most recently as Executive Vice President of PNC Financial Services Group, to the Board of Directors
- Issued eighth annual Corporate Sustainability Report and also named a Green Lease Leader by the U.S. Department of Energy Better Buildings Alliance
"As we had anticipated, the COVID-19 pandemic had a pronounced impact on our second quarter financial results," stated Thomas J. DeRosa, Chairman and CEO. "Our seniors housing and post-acute care businesses, in particular, endured significant challenges, which resulted in steep occupancy declines and a sharp increase in expenses through April and early-May. However, through June and July, we have witnessed a consistent sequential improvement in seniors housing occupancy trends. While we are encouraged by these recent data points, the path to recovery remains far from certain. Therefore, we continue to prioritize the strength of our balance sheet which will enable us to navigate through near-term uncertainty and position ourselves to deploy capital opportunistically. Welltower remains steadfast in its goal of reimagining and developing a more sustainable health care delivery infrastructure to meet the needs of a rapidly aging population today and in the post COVID world."
For earnings history and earnings-related data on Welltower (WELL) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Standard BioTools (LAB) Announces Operational Restructuring Plan, Cuts 10% Staff
- Ladder Capital (LADR) Tops Q1 EPS by 4c
- California Water Service (CWT) Tops Q1 EPS by 111c
Create E-mail Alert Related Categories
Corporate News, Earnings, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!