Health Care

An Eye on Earnings Report: Brookdale Senior Living Inc (NYSE: BKD)

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Brookdale Senior Living Inc (NYSE: BKD) negotiated 1,094,222 shares against it an average volume of 2,858,638 shares. The stock concluded the recent trade at $9.71 with upbeat trend move of +2.32%. The company has total market value of 1.821B billion. The company has got a 52-week exceptional price of $14.82 and reached a 52-week lowest of the share price at $6.28. The daily trading range was observed between a day’s low price of $9.41 to a day’s high price of $9.71.

Brookdale Senior Living Inc. (NYSE: BKD) reported results for the quarter ended March 31, 2018.

First Quarter Financial Results

Total revenue for the first quarter of 2018 was $1.19B contrast to $1.22B for the previous year period. Resident fees were $906.3M for the first quarter of 2018, a decrease of 10.9% from the first quarter of 2017.  The decrease in resident fees was primarily a result of the disposition of 111 communities (10,635 units) through asset sales and lease terminations since January 1, 2017.  First quarter RevPAR for the consolidated senior housing portfolio was $3,983, a raise of 1.6% from the first quarter of 2017, driven by a year-over-year increase in RevPOR of 2.6%, which was partially offset by a decrease in weighted average unit occupancy of 90 basis points.  See “Definitions of RevPAR and RevPOR” below for the Company’s definitions of such terms.

Facility operating expenses for the first quarter of 2018 were $632.3M, a decrease of 6.3% from the first quarter of 2017.  The decrease in facility operating expenses was primarily Because of disposition activity, through asset sales and lease terminations.  Combined section operating margin was 31.6% for the first quarter of 2018 versus 34.7% for the first quarter of 2017.

 

Net loss for the first quarter of 2018 was $457.2M, versus a net loss of $126.4M for the first quarter of 2017. Net loss for the first quarter of 2018 included $430.4M of non-cash impairment expense, primarily including impairment charges of $351.7M for goodwill within the Assisted Living section and $40.8M for property, plant and equipment and leasehold intangibles for certain communities, primarily in the Assisted Living section.

Weighted average shares outstanding were 186.9M for the first quarter of 2018 contrast with weighted average shares outstanding of 185.7M for the previous year quarter.

Net cash provided by operating activities for the first quarter of 2018 was $38.0M, a decrease of $28.8M, or 43.1%, contrast with the first quarter of 2017, driven primarily by a raise in same community operating expenses.

Senior Housing

Revenue for the consolidated senior housing portfolio was $795.7M for the first quarter of 2018, a decrease of 12.1% from the first quarter of 2017. Facility operating expenses were $530.1M for the first quarter of 2018, a decrease of 8.3% from the first quarter of 2017.  Operating income for the consolidated senior housing portfolio reduced by 18.7% from the first quarter of 2017, to $265.6M for the first quarter of 2018.  The decrease in operating income during the three months ended March 31, 2018 was primarily Because of disposition activity, through asset sales and lease terminations, of 111 communities (10,635 units) since the starting of the previous year period. RevPAR increased 2.0% sequentially for the first quarter of 2018 contrast to the fourth quarter of 2017.

Brookdale Senior Living Inc.’s (BKD) EPS growth ratio for the past five years was -46.60% while Sales growth for the past five years was 11.40%. Return on equity (ROE) was noted as -59.80% while return on investment (ROI) was -5.70%. The stock’s institutional ownership stands at 0.24%.

Same community revenue for the consolidated senior housing portfolio for the first quarter of 2018 reduced 0.6% from the corresponding period in 2017.  Same community RevPAR reduced 0.6% in the first quarter of 2018 from the first quarter of 2017, driven by a decline in weighted average unit occupancy of 130 basis points, which was partially offset by a raise in same community RevPOR of 1.0%. Same community facility operating expenses for the first quarter of 2018 increased by 5.8% over the first quarter of 2017, driven primarily by a raise in community labor expenses arising from wage rate increases.  As a result, same community operating income for the consolidated senior housing portfolio for the first quarter of 2018 reduced by 11.2% from the first quarter of 2017, to $257.8M. Same community weighted average unit occupancy for the consolidated senior housing portfolio reduced 90 basis points to 84.8% sequentially from the fourth quarter of 2017. Same community revenue increased 1.4% sequentially from the fourth quarter of 2017, contributing to a 2.0% sequential increase in same community operating income.

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