Brookdale Q1 beat: RevPAR +12.9%, Adj EBITDA surged 138% to $88.6M, loss narrowed

Brookdale Senior Living Inc.

2023-Q1 EPS reported -$0.20 revenue$753,263,000

Resident fee revenue $713.4M, up 12% YoY; RevPAR $4,551 (+12.9%), RevPOR $5,963 (+8.6%).
Weighted average occupancy 76.3%, up 290 bps YoY but down 80 bps sequentially from Q4 2022.
Net loss improved to $44.6M from $100.0M in Q1 2022; Adjusted EBITDA $88.6M vs $37.2M.
No mortgage debt maturities until September 2024; management highlights improved financial position.
CEO cites scale and clinical expertise; expects to benefit from demographic tailwinds.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Brookdale Senior Living Inc. reported the quarter ended March 31, 2023 results: revenue $ 713.4, net income (44.6).

Period: the quarter ended March 31, 2023
Revenue: $ 713.4
Net income: (44.6)
Result: reported results

Exact text from the filing

Increase / (Decrease) Sequential Increase / (Decrease) ($ in millions, except RevPAR and RevPOR) 1Q 2023 1Q 2022 Amount Percent 4Q 2022 Amount Percent Resident fee revenue $ 713.4 $ 637.0 $ 76.4 12.0% $ 657.9 $ 55.5 8.4% Facility operating expense 530.8 512.8 18.0 3.5% 531.7 (0.9) (0.2)% General and administrative expense 48.6 45.1 3.5 7.8% 40.4 8.2 20.3%

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Source: SEC EDGAR

accession 0001332349-23-000073

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