Brookdale Senior Living Inc. Earnings: Loss Narrows

Brookdale Senior Living Inc. (NYSE:BKD) reported its results for the first quarter. Brookdale Senior Living 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 First Quarter

Results: Loss narrowed to $10.3 million (loss of 9 cents per diluted share) from $12.3 million (loss of 10 cents per share) in the same quarter a year earlier.

Actual vs. Wall St. Expectations: Brookdale Senior Living Inc. fell short of the mean analyst estimate of a loss of one cent per share.

Quoting Management: Bill Sheriff, Brookdale’s CEO, said, “The first quarter of 2012 proved to be a very solid start to the year. We are encouraged by the occupancy and rate growth trends we experienced. Occupancy was up 60 basis points over last year’s first quarter and was flat sequentially – a good accomplishment given historical seasonal patterns.  Underlying pricing remained steady as same community revenue per unit for the senior housing business, excluding skilled nursing and ancillary services, increased 2.3% versus the prior year. We also made significant progress in several key initiatives, including growth of our ancillary services footprint and integration of the Horizon Bay communities.  We are confident we are positioning Brookdale to provide the best of service and value to our residents and attractive returns to our shareholders.”

Key Stats:
The company has now come in under analyst forecasts for three quarters in a row. It missed the mark by 4 cents in the fourth quarter of the last fiscal year and by 4 cents in the third quarter of the last fiscal year.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 5 cents a share to 2 cents over the last ninety days. At 7 cents per share, the average estimate for the fiscal year has fallen from 14 cents ninety days ago.

Competitors to Watch: Assisted Living Concepts, Inc., Sunrise Senior Living, Inc., Marseille-Kliniken AG, Viculus Limited, Capital Senior Living Corp., Emeritus Corporation, Five Star Quality Care, Inc., and Granville Pacific Capital Corp.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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