Brookdale Cuts 2026 Guidance on Soft Occupancy; Q3 Adjusted EBITDA Up 12%
BKD sits 30% above its 52-week low of $8.02.
Summary
Brookdale reported Q3 2026 Adjusted EBITDA of $124.3 million, up 12%, but cut full-year guidance to $495-502 million on softer occupancy and a community fire. It also agreed to buy 30 leased communities for $290 million.
Updates
· Dow Jones Newswires — Brookdale shares fell 13% to $9.36 after Q3 revenue of $712.1 million missed the $722.7 million FactSet estimate.
Key Events · Earnings and Guidance · BKD
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2026 Guidance Trimmed
Full-year Adjusted EBITDA guidance cut to $495-502 million from $502-516 million, and RevPAR growth to 7.4-7.9% from 8.0-9.0%, citing slower occupancy, added marketing spend, and the Clinton, Mississippi fire.
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Q3 Profitability Improved
Adjusted EBITDA rose 12.0% to $124.3 million from $111.1 million, and the net loss narrowed to $13.9 million (-$0.06 per share) from $114.7 million a year earlier.
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$290M Leased-Community Buy
October 2026 agreement to acquire 30 leased communities (1,152 units) for $290.0 million, expected to reduce 2027 cash rent by about $17.8 million; closing targeted for Q4 2026, funded with cash and non-recourse mortgage debt.
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Convertible Notes Settled
The $23.3 million of 2.00% 2026 Notes were settled in October 2026 with $23.3 million cash and 0.9 million shares; the related capped call delivered $45.9 million cash and 0.4 million treasury shares.
Analysis · BKD · Industrial Applications And Services
Brookdale beat last year's profitability but missed its own revenue-per-unit target, and management trimmed full-year Adjusted EBITDA to $495-502 million from $502-516 million and RevPAR growth to 7.4-7.9% from 8.0-9.0%. The shortfall traces to slower occupancy late in the quarter, extra marketing spend, and a fire that emptied a 97-unit Mississippi community. Against that, the portfolio reshaping continues: a $290 million deal for 30 leased communities would cut about $17.8 million of annual rent, and the 2026 convertible notes are now settled, leaving no mortgage maturities until 2028.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 35.1% of the 2636 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, BKD was trading at $10.42 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $8.02 to $17.09. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.