BKD
Brookdale Senior Living Inc.10.49
+0.19+1.84%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Pricing hikes, Health Plus details affirmed
Q&A largely reaffirmed prepared remarks on occupancy momentum and 2026 guidance, but confirmed mid-to-high single-digit in-place rent hikes—stronger than 2025—while noting stable move-out rates. Management detailed a new SVP of Strategic Operations centralizing pricing, labor, and CapEx targeting 'winning markets' like Dallas and Kansas City. Health Plus expansions cut resident hospitalizations, aiding retention and associate turnover. Storms nipped January occupancy, but February move-ins surged. Investors will watch 70-80% band progress and CapEx ROI.
Key Stats
Market Cap
2.49BP/E (TTM)
-Basic EPS (TTM)
-1.32Dividend Yield
0%Recent Filings
10-K
FY2025 results
Brookdale Senior Living ended FY2025 with 584 communities serving 51,000 residents, down from prior years after selling 12 owned properties for $26.1M net proceeds and terminating leases on 58 communities amid capital recycling. Resident fees rose 2.4% to $3.0B annually, driven by 5.1% same-community RevPAR growth (210bps occupancy gain to 82.3% plus 2.3% RevPOR), though dispositions cut topline by ~$57M; facility expenses climbed 1.5% on 4.7% same-community increase from wages and utilities, offset by $49M savings from exits. Adjusted EBITDA surged 18.5% to $458M on RevPAR momentum and $35M lower lease payments post-acquisitions, while net loss widened to $263M from $71M impairments on planned dispositions and $33M debt extinguishment. Liquidity stood at $378M with $596M December refinancings covering 2026 maturities; $200M planned 2026 asset sales pending. Economic downturns curbing seniors' affordability threaten occupancy momentum.
8-K
Q4 RevPAR +7.1%, EBITDA up
Brookdale reported Q4 2025 results with RevPAR up 7.1% to $5,219 on 310 bps occupancy gains to 82.5%, driving Adjusted EBITDA to $105.6M, up 7.1%. Full-year Adjusted EBITDA hit $458M, 18.5% above 2024, after refinancing $537M in mortgage debt and terminating Ventas leases on 42 communities. Plans 29 community sales for ~$200M. 2026 guides 8-9% RevPAR growth, mid-teens Adjusted EBITDA rise. Occupancy dipped seasonally in January 2026.
8-K
Brookdale's 2025 prelims, 2026 guide
Brookdale issued preliminary 2025 results on January 28, 2026, showing revenue near $3.2 billion, RevPAR up 5.7%, Adjusted EBITDA at $458 million (19% above 2024's $386 million), yet a $263 million net loss from $71 million impairments. It guides 2026 RevPAR growth of 8.0%-9.0% and Adjusted EBITDA of $502-$516 million, targeting mid-teens growth amid dispositions. Leverage drops yearly to below 6.0x by 2028.
8-K
Occupancy surges 310 bps YoY
Brookdale Senior Living reported December 2025 consolidated weighted average occupancy of 82.4%, up 310 basis points year-over-year, with month-end at 83.7%. Fourth-quarter weighted average hit 82.5%, a 70 basis point sequential gain that beat historical trends. Strong move-ins fuel 2026 momentum. Risks in SEC filings could alter outlook.
8-K
Patchett named COO
Brookdale Senior Living appointed Mary Sue Patchett as Executive Vice President and Chief Operating Officer effective December 1, 2025, filling the role vacant for over 10 years. The tenured leader, with 40 years in senior living and recent interim success redesigning the regional operating structure, reports $530,000 base salary and $800,000 target long-term incentives for 2026. She drives agility in Brookdale's 623 communities. No related-party ties disclosed.
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