Brookdale Senior Living Reports Strong Preliminary 2025 Results, Projects Mid-Teens EBITDA Growth for 2026

summarizeSummary

Brookdale Senior Living released preliminary 2025 results showing strong operational metrics and introduced optimistic 2026 guidance, projecting mid-teens Adjusted EBITDA growth.

check_boxKey Events

• Preliminary 2025 Financial Results Announced

  The company reported preliminary full-year 2025 revenue of approximately $3.2 billion and Adjusted EBITDA of approximately $458 million, a 19% increase from 2024 and above the midpoint of prior guidance. RevPAR growth was approximately 5.7%, also exceeding the midpoint of guidance.

• Full Year 2026 Guidance Introduced

  Brookdale projects full-year 2026 RevPAR growth of 8.0% to 9.0% and Adjusted EBITDA between $502 million and $516 million, reflecting mid-teens year-over-year growth for its ongoing portfolio. The company targets leverage below 6.0x by year-end 2028.

• Adjusted Free Cash Flow Misses Guidance

  Adjusted Free Cash Flow for 2025 is expected to be below the previously provided guidance range of $30 million to $50 million due to changes in working capital, though it remains significantly positive for the full year.

• Net Loss Includes Impairment Charges

  The preliminary net loss for 2025 is expected to be approximately $263 million, which includes non-cash impairment charges of approximately $71 million primarily related to planned dispositions.

auto_awesomeAnalysis

Brookdale Senior Living announced preliminary full-year 2025 financial results and provided robust full-year 2026 guidance, ahead of its Investor Day. The company reported 2025 Adjusted EBITDA and RevPAR growth above the midpoint of its previous guidance, indicating strong operational performance. While a net loss was reported for 2025, it included significant non-cash impairment charges. The 2026 guidance projects continued mid-teens year-over-year Adjusted EBITDA growth and significant RevPAR increases, signaling ongoing positive momentum. The slight miss on Adjusted Free Cash Flow for 2025, attributed to working capital changes, is a minor concern but does not overshadow the overall positive operational trajectory and forward-looking outlook. This filing provides critical financial context following the recent occupancy update and sets the stage for the upcoming Investor Day.