Brookdale Senior Living Reports Better Than Expected Occupancy in Q1
Brookdale Senior Living Inc. (NYSE:BKD) released its monthly occupancy report for March, with a weighted average occupancy of 73.6%, up 30 bps sequentially from February. The strong sequential growth brings monthly occupancy back in line with levels reported in December, prior to the early 2022 omicron spike, which weighed on occupancy progression through January and February.
Importantly, weighted average occupancy for the quarter declined only 10 bps sequentially, outperforming management’s 40 bps expected decline.
Analysts at RBC Capital estimate that the better-than-expected Q1/22 occupancy equates to an incremental $2.4 million of adjusted EBITDA for Q1, which should partially offset an incremental $5 million of labor costs.
| Symbol | Price | %chg |
|---|---|---|
| MIKA.JK | 3070 | 0 |
| SILO.JK | 2540 | 0 |
| SRAJ.JK | 1715 | 0 |
| HEAL.JK | 1335 | 0 |
Brookdale Senior Living Reports Better Than Expected Occupancy in Q1
Brookdale Senior Living Inc. (NYSE:BKD) released its monthly occupancy report for March, with a weighted average occupancy of 73.6%, up 30 bps sequentially from February. The strong sequential growth brings monthly occupancy back in line with levels reported in December, prior to the early 2022 omicron spike, which weighed on occupancy progression through January and February.
Importantly, weighted average occupancy for the quarter declined only 10 bps sequentially, outperforming management’s 40 bps expected decline.
Analysts at RBC Capital estimate that the better-than-expected Q1/22 occupancy equates to an incremental $2.4 million of adjusted EBITDA for Q1, which should partially offset an incremental $5 million of labor costs.
