Brookdale Senior Living, Inc. (BKD) Reports Q2 CFFO of $0.61

August 8, 2013 8:15 AM EDT
After the close, Brookdale Senior Living, Inc. (NYSE: BKD) reported Q2 CFFO of $0.61, versus $0.57 reported last year. Revenue for the quarter came in at $716.5 million versus the consensus estimate of $700.85 million.

Brookdale Senior Living, Inc. raised its FY2013 CFFO outlook to $2.35-$2.45.

Andy Smith, Brookdale's CEO, said, "We produced solid second quarter results. Driving top-line revenue growth, while managing expense growth, resulted in CFFO growth of 8% for the quarter and 13% year to date. Occupancy was up 60 basis points over last year's second quarter and pricing growth for our senior housing business, excluding skilled nursing, was 2.7% versus the prior year period. Bolstered by the improving housing market, we had a terrific quarter in our entry fee CCRCs with a record number of second quarter sales. Our branding initiative is off to a strong start and we are encouraged by the initial results of our innovative marketing work. Our second quarter results, like those for the first quarter, demonstrate positive momentum of a slowly strengthening economic environment that enables us to increase our full year CFFO guidance."

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

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