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Sonida Senior Living Q3 adjusted EBITDA rises on occupancy gains

By Reuters News


Overview

  • U.S. senior housing operator's Q3 adjusted EBITDA rose 26% yr/yr on higher occupancy and RevPOR

  • Company reported Q3 net loss attributable to common shareholders

  • Company acquired seven senior living communities in Florida and other states in Q3 and October


Outlook

  • Company says future liquidity will depend on operating performance and prevailing economic conditions

  • Company expects to rely on operations, debt and equity offerings to support liquidity

  • Sonida aims to leverage recent acquisitions to drive sustained earnings growth


Result Drivers

  • OCCUPANCY AND PRICING - Co said higher occupancy and increased average revenue per occupied unit drove margin and NOI growth

  • PORTFOLIO EXPANSION - Co said integration of CHP and new acquisitions are expected to support future earnings growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.72

Q3 Net Loss

$34.53 mln

Q3 Loss Per Basic Share

$0.72

Q3 Operating Expenses

$135.20 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the healthcare facilities & services peer group is "buy"

  • Wall Street's median 12-month price target for Sonida Senior Living, Inc. is $47.50, about 28.3% above its November 4 closing price of $37.01


Reuters Recommended Reads

  • Nov 3 - Senior care provider InnovAge's Q1 revenue beats as participants increase

  • Nov 2 - Diversified Healthcare Trust Q3 net loss narrows amid occupancy growth

  • Nov 2 - Sabra Health Care REIT Q3 revenue rises year-over-year


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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