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01/11 03:13
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call reflects solid financial performance with strong revenue and earnings growth, increased revenue guidance, and a robust shareholder return plan through dividends and stock repurchases. Despite risks like regulatory changes and staffing challenges, management shows confidence in their strategic approach and market expansion plans. The Q&A session highlights proactive engagement in managing potential Medicaid cuts and a selective acquisition strategy. Overall, the financial health and optimistic outlook suggest a positive stock price movement in the short term.
GAAP diluted earnings per share $1.37, an increase of 15.1% year-over-year.
Adjusted diluted earnings per share $1.52, an increase of 16.9% year-over-year.
Consolidated GAAP revenue $1,200,000,000, an increase of 16.1% year-over-year.
Adjusted revenues $1,200,000,000, an increase of 16.1% year-over-year.
GAAP net income $80,300,000, an increase of 16.6% year-over-year.
Adjusted net income $89,000,000, an increase of 18% year-over-year.
Cash and cash equivalents $282,700,000.
Cash flow from operations $72,200,000.
Investment spend More than $190,000,000 for strategic growth.
Lease adjusted net debt to EBITDA ratio 2.13 times.
Quarterly cash dividend $6.25 per common share.
Stock repurchase program Completed a $20,000,000 stock repurchase program.
Number of operations acquired in 2024 and since 47 operations.
Standard Bear rental revenue $28,400,000 for the quarter.
Standard Bear FFO $17,100,000.
Standard Bear EBITDAR to rent coverage ratio 2.6 times.
New Operations Added: Added 47 new operations since January 2024 across almost every market served, with 19 new operations including eight real estate assets during the quarter.
Market Expansion: Expanded into new states including Alabama, Oregon, and Alaska, with a focus on deepening presence in the Southeast.
Occupancy Rates: Achieved an all-time high in same store and transitioning occupancy at 82.68% and 83.5% respectively.
Census Growth: Skilled census increased by 7.69% for same store and 9.9% for transitioning operations.
Managed Care Census Growth: Grew by 8.9% for same store and 15.6% for transitioning operations.
Turnover Improvement: Continued improvements in turnover and limited use of agency staffing labor.
Earnings Guidance: Raised annual 2025 earnings guidance to between $6.22 and $6.38 per diluted share, up from $6.16 to $6.34.
Revenue Guidance: Increased annual revenue guidance to $4.89 billion to $4.94 billion, up from $4.83 billion to $4.91 billion.
Regulatory Risks: Potential changes in Medicaid funding and provider tax discussions in Washington could impact the company's operations and financial performance.
Competitive Pressures: The company faces competition from private equity and family-based funds in the acquisition space, which may affect deal opportunities.
Staffing Challenges: Despite improvements, the skilled nursing sector has not fully recovered from staffing shortages post-COVID, which could limit admissions and operational efficiency.
Economic Factors: Economic downturns may influence staffing availability and operational leverage, as more individuals may return to the workforce during recessions.
Acquisition Strategy Risks: The company emphasizes a disciplined acquisition strategy, which may limit growth if suitable leadership or pricing is not available.
Market Dynamics: The company is expanding into new markets with lower Medicaid payment rates, which may affect profitability compared to established markets.
New Operations Added: Added 47 new operations since January 2024 across various markets, with 19 new operations in Q1 2025.
Occupancy Rates: Achieved an all-time high in same store and transitioning occupancy, increasing to 82.6% and 83.5% respectively.
Managed Care Census Growth: Managed care census grew by 8.9% and 15.6% for same store and transitioning operations respectively.
Acquisition Strategy: Continued disciplined acquisition strategy, focusing on adding density in established markets and entering new states.
Leadership Development: Building a pipeline of future CEOs and local leaders to support growth.
Earnings Guidance: Raised annual 2025 earnings guidance to between $6.22 and $6.38 per diluted share, representing a 14.5% increase over 2024 results.
Revenue Guidance: Increased annual revenue guidance to $4.89 billion to $4.94 billion, up from $4.83 billion to $4.91 billion.
Capital Expenditures: Spent over $190 million on strategic growth initiatives during the quarter.
Debt Management: Maintained a lease adjusted net debt to EBITDA ratio of 2.13 times, indicating strong financial health.
Quarterly Cash Dividend: The company paid a quarterly cash dividend of $6.25 per common share.
Dividend History: The company has a long history of paying dividends and has increased the annual dividend for twenty-two consecutive years.
Stock Repurchase Program: The company recently completed a $20,000,000 stock repurchase program.
Stock Repurchase Strategy: The company will consider stock repurchases when it feels the market is undervaluing its shares.
The company demonstrated strong financial performance, with significant increases in revenue, earnings, and net income. The raised guidance for earnings and revenue further supports a positive outlook. Despite some uncertainties in managed care contracting, the company is expanding in new markets and seeing growth in skilled services. The Q&A revealed confidence in organic growth and acquisition strategy, contributing to a positive sentiment. The combination of these factors suggests a likely positive stock price movement.
The earnings call summary indicates strong financial performance, with record occupancy rates, revenue growth, and increased earnings guidance. The Q&A section reveals a disciplined acquisition strategy and confidence in maintaining Medicaid funding. Despite some unclear responses, the overall sentiment is positive, driven by strong financial metrics and optimistic guidance, suggesting a likely positive stock price movement in the short term.
The earnings call reflects solid financial performance with strong revenue and earnings growth, increased revenue guidance, and a robust shareholder return plan through dividends and stock repurchases. Despite risks like regulatory changes and staffing challenges, management shows confidence in their strategic approach and market expansion plans. The Q&A session highlights proactive engagement in managing potential Medicaid cuts and a selective acquisition strategy. Overall, the financial health and optimistic outlook suggest a positive stock price movement in the short term.
The earnings call summary indicates strong financial performance, with record occupancy rates, increased earnings and revenue guidance, and disciplined acquisition strategies. The company also completed a stock repurchase program and has a history of increasing dividends. Despite some regulatory and staffing concerns, the overall sentiment is positive, supported by optimistic guidance and strategic growth initiatives. The Q&A section provided additional confidence in management's strategies, leading to an expected positive stock price movement of 2% to 8% over the next two weeks.
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