Brookdale Posts $712.1M in 3Q Revenue
BKD sits 36% above its 52-week low of $8.02.
Summary
Brookdale reported third-quarter revenue of $712.1 million, a quarter that also brought a loss of 6 cents per share and net income of -13.9 million. The top line lands against a backdrop of improving operations: Q2 brought a return to profitability with $23.3 million in net income on an 8.2% RevPAR increase, and September occupancy came in at 83.1% weighted average, up 130 bps year-over-year and 70 bps sequentially. The company has also been buying in scale, closing a $157 million acquisition of 17 leased communities from Welltower in October and agreeing to buy 30 more for $290 million. Revenue alone doesn't settle the quarter — margin, net income and Adjusted EBITDA will decide whether the occupancy gains are converting into earnings.
At the time of this announcement, BKD was trading at $10.90 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $8.02 to $17.09. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.