Brookdale Senior Living reports Q2 EPS (2c), consensus (24c)

Reports Q2 revenue $750.79M, consensus $747.04M. Reports Q2 RevPAR of $4,544, exceeded pre-pandemic levels for the second consecutive quarter driven by 190 basis points of occupancy growth and an 8.8% increase in RevPOR over the prior year quarter. “I am pleased to have made such strong progress this year for our residents, associates, and shareholders. We continued to build upon our positive momentum in the second quarter and once again achieved remarkable year-over-year Adjusted EBITDA growth. In the first half of 2023, we nearly doubled Adjusted EBITDA over the 2022 period. Through focused execution against our strategic priorities and ongoing improvements in operational excellence, we have grown revenue, increased margin, and strengthened our financial position,” said Lucinda Baier, Brookdale’s President and CEO. “Whether it’s this year’s record RevPAR or our progress towards positive Adjusted Free Cash Flow, I believe Brookdale is laying the groundwork for an incredibly promising future that will benefit our residents, associates, and shareholders for years to come.”