Regional Health Properties reports Q3 EPS (52c) vs. ($1.48) last year

Reports Q3 revenue $4.1M vs. $11M last year. Generated $0.7 million of Adjusted EBITDA in the quarter, compared to $0.1 million in the third quarter of 2022; Collected 93% of contractual rent as of September 30, 2023. Brent Morrison, Regional Health’s President and Chief Executive Officer, commented, “Our operating partners continue to make progress mitigating lower than average occupancy and tight labor markets. As a result, our EBITDAR 3 coverage remains strong at 1.5x. We remain hopeful this momentum will continue into the fourth quarter as well as 2024 With the transformative transaction behind us, we continue to look for opportunities to further simplify our capital structure and further reduce corporate expenses. As our stock price continues to trade well below net asset value, management remains committed to improve transparency for investors.”