Brookdale Senior Living earnings date
Want to see BKD full AI Analyst Report?
Brookdale Senior Living (BKD) Q3 2026 Earnings Report
BKD Q3 2026 EPS Results
- Actual EPS
- -$0.06
- Consensus EPS
- -$0.03
- Beat/Miss
- Missed by -$0.03
- One Year Ago EPS
- -$0.48
BKD Q3 2026 Revenue Results
- Actual Revenue
- $712.07M
- Expected Revenue
- $721.26M
- Beat/Miss
- Missed by -$9.19M
- YoY Revenue Growth
- -12.43%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/06/2026
- Time
- Before Open
- Conference Call
- Friday, November 6, 2026
Brookdale Senior Living's next earnings date is estimated for February 23, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was broadly constructive, with adjusted EBITDA growth, improved labor productivity, portfolio optimization, higher CapEx investment, strong lead conversion, and continued confidence in 2027 growth. However, management lowered 2026 guidance because occupancy growth fell short of expectations, while subdued lead volume, elevated facility expenses, the Clinton fire, and slightly lower liquidity remained notable challenges.
Brookdale now expects full year 2026 adjusted EBITDA of $495 million to $502 million and full year consolidated RevPAR year-over-year growth of 7.4% to 7.9%, with fourth quarter RevPAR growth in the high-6% range and fourth quarter adjusted EBITDA growth at a low double digit to mid teen year over year growth rate; full year consolidated occupancy is expected to come in below 83%, full year G&A cost is expected to be approximately $154 million, cash facility operating lease payments are expected to be $172 million, and management fees are expected to be approximately $7 million, with assumptions including occupancy growth remains muted during the fourth quarter, rate remains relatively firm in the fourth quarter, the impact of the remaining dispositions will be minimal, continued labor expense improvement, slightly elevated other facility operating expenses, and the current estimates of the fourth quarter revenue and expense impact of the recent fire at the 97-unit Clinton, Mississippi community; Brookdale remains confident in its ability to create durable, mid teens adjusted EBITDA growth in 2027 and beyond.
- Adjusted EBITDA Growth Met ExpectationsThird-quarter adjusted EBITDA was $124.3 million, up 12% versus the prior-year quarter and in line with the company's expected low-double-digit growth pacing.
- Improved EBITDA Margin and Labor ProductivityAdjusted EBITDA margin expanded by over 300 basis points year over year. Same-community labor expense as a percentage of revenue improved by 120 basis points, reflecting actions to strengthen labor management, particularly in administrative roles.
- Sequential Occupancy Improvement and Stronger Occupancy BandsConsolidated and same-community occupancy both improved sequentially by 70 basis points. Communities above 90% occupancy increased to 186 from 167 in the prior quarter, while communities below 70% occupancy declined to 69 from 85.
- Revenue per Occupied Unit and Operating Income GrowthThird-quarter consolidated RevPOR increased 5.8% year over year and same-community RevPOR increased 4.8%. Same-community operating income growth accelerated to 7.4% year over year.
- Positive RevPOR-Expense Spread and Operating MarginConsolidated RevPOR growth exceeded ExPOR growth by 290 basis points, while the same-community spread was 90 basis points. Same-community operating margin improved by 50 basis points year over year to 29.2%.
- Lower General and Administrative ExpenseThird-quarter G&A expense, excluding noncash stock-based compensation and transaction, legal, and organizational restructuring costs, declined 15% year over year to $36.6 million. Full-year G&A expense is now expected to be approximately $154 million.
- Portfolio Disposition Program Nears CompletionThrough September 30, Brookdale sold 23 owned communities comprising approximately 1.77 thousand units for $169 million of net proceeds and exited two leased communities with 152 units. As of November 6, one additional community had been sold for $10 million of net proceeds. Five of the 29 planned communities remained, all under contract and expected to close by year end, with total net proceeds from 26 dispositions expected to be approximately $190 million.
- Expansion of Owned PortfolioBrookdale completed the acquisition of 17 previously leased communities for $160 million, including transaction costs, and entered into an agreement to acquire 30 additional currently leased communities for $290 million. Upon completion, the company expects to own approximately 80% of its consolidated portfolio, compared with 49% of consolidated units in 2017.
- Lease and Portfolio Optimization BenefitsThe company stated that increasing ownership reduces lease expense and renewal uncertainty, increases cash flow, and provides greater participation in future community economic upside. The 30-community acquisition is expected to improve immediate and longer-term adjusted EBITDA and cash flow, and the related 2027 annual triple-net lease cash rent would have been approximately $18 million.
- Higher Community Capital InvestmentThird-quarter community CapEx rose to $47 million, the company's highest quarterly investment level in several years. Brookdale has shifted to concentrating investment in communities with the greatest opportunity for comprehensive upgrades and significant revenue and adjusted EBITDA returns.
- Resident Experience Continued to ImproveNet promoter score increased through the end of the third quarter of 2026 versus the same period of 2025 and has increased every year since 2022.
- Strong Lead-to-Move-In ConversionThird-quarter lead-to-move-in conversion was near a record high compared with the past few years and significantly ahead of industry conversion benchmarks. Management also said the company is at its highest recent conversion rate, with internally generated leads converting more highly than externally generated leads.
- Pricing Power Remains StrongManagement said Brookdale's pricing power may be somewhat stronger than last year and expects another meaningful in-place rate increase. The company plans to use differentiated pricing, with higher increases in more highly occupied communities and continued discounts in lower-occupancy communities.
- Balance Sheet and Financing ProgressAdjusted annualized leverage improved to 8.3x from 8.4x at midyear. Brookdale obtained $108 million of debt secured by the 17 acquired communities and closed on $249 million of fixed-rate debt secured by 45 communities, effectively refinancing $244 million of existing debt. The company stated that it has no mortgage debt maturities until 2028.
- Confidence in 2027 Earnings GrowthManagement remains confident in its ability to deliver durable mid-teens annual adjusted EBITDA growth in 2027 and beyond, supported by labor productivity actions, expected improvement in other facility operating expenses, the acquisition of previously leased communities, and lower G&A.
BKD Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 23, 2027 | 2026 (Q4) | -0.05- | -0.17 | ― | ― |
| Nov 06, 2026 | 2026 (Q3) | -0.03-0.06 | -0.48 | 87.50% (+0.42) | |
| Aug 10, 2026 | 2026 (Q2) | -0.060.10 | -0.18 | 155.56% (+0.28) | |
| May 06, 2026 | 2026 (Q1) | -0.02-0.03 | -0.28 | 89.29% (+0.25) | |
| Feb 18, 2026 | 2025 (Q4) | -0.17-0.17 | -0.37 | 54.05% (+0.20) | |
| Nov 06, 2025 | 2025 (Q3) | -0.17-0.48 | -0.22 | -118.18% (-0.26) | |
| Aug 06, 2025 | 2025 (Q2) | -0.13-0.18 | -0.17 | -5.88% (-0.01) | |
| May 06, 2025 | 2025 (Q1) | -0.12-0.28 | -0.13 | -115.38% (-0.15) | |
| Feb 18, 2025 | 2024 (Q4) | -0.21-0.37 | -0.4 | 7.50% (+0.03) | |
| Nov 06, 2024 | 2024 (Q3) | -0.17-0.22 | -0.22 | 0.00% (+0.00) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
