Brookdale Senior Living Inc. Cheat Sheet: Revenues Rise 3.1%

Brookdale Senior Living Inc. (NYSE:BKD) reported its results for the second quarter. Brookdale Senior Living, Inc. is an operator of senior living communities in the United States. It operates in four business segments: retirement centers, assisted living communities, continuing care retirement communities and management services.

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Brookdale Senior Living Earnings Cheat Sheet for the Second Quarter

Results: Cash from Facility Operations (CFFO) was $61.3 million or 52 cents per share vs. $57 million or 48 cents per share a year earlier. This is a rise of 7.6 %.

Revenue: Rose 3.1% to $565.4 million from the year earlier quarter.

Quoting Management: Bill Sheriff, Brookdale’s CEO said, “We had some very good accomplishments in the second quarter and, at the same time, had some outcomes which were not as good as we expected. Our business, and the industry as a whole, continue to be impacted by the general economic environment, including the housing market and consumer sentiment, and the most recently announced changes in Medicare reimbursement related to skilled nursing. We entered 2011 with a sense of optimism that we were seeing an improvement in the economy after sequentially improving results in rate and occupancy through 2010. However, after a customarily soft first quarter occupancy, we saw only improvement in rate, but not occupancy for the first two months of the second quarter. Reinstating some incentives in May led to an average occupancy increase of 30 basis points in June and 40 basis points in July. We expect to continue to increase occupancy over the next two quarters, by judiciously balancing rate growth against the economic backdrop, as well as implementing other initiatives to improve Brookdale’s brand and performance.”

Competitors to Watch: Assisted Living Concepts, Inc. (NYSE:ALC), Sunrise Senior Living, Inc. (NYSE:SRZ), Capital Senior Living Corp. (NYSE:CSU), Emeritus Corporation (NYSE:ESC), Five Star Quality Care, Inc. (AMEX:FVE).

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(Source: Xignite Financials)

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