Brookdale Senior Living Inc. (NYSE:BKD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Brookdale Senior Living Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.03 in the quarter versus EPS of $-0.09 in the year-earlier quarter.
Revenue: Rose 4.21% to $712.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Brookdale Senior Living Inc. reported adjusted EPS income of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.04. It beat the average revenue estimate of $707.61 million.
Quoting Management: Andy Smith, Brookdale’s CEO, said, “We are very pleased with our first quarter results. It’s a solid start to the year. We are encouraged by the trends we continue to see driving organic growth. Occupancy was up 70 basis points over last year’s first quarter and first quarter move-ins increased 7% from a year ago. Pricing growth remained steady as revenue per unit for our senior housing business increased 2.8% versus the prior year period. We also made significant progress in controlling our cost growth, demonstrating our business model’s inherent leverage when occupancy and rate grow. With the senior living industry’s largest and most comprehensive platform, we continue to be enthusiastic about our prospects for 2013, and we remain intently focused on creating value for our shareholders.”
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