Focus on same-community revenue growth and occupancy trajectory, which are improving. The debt refinancing and asset sales strengthen the balance sheet. However, the EPS miss relative to consensus and continued portfolio contraction could cap upside. Monitor the Q2 earnings call for occupancy and margin trends to confirm the turnaround narrative.
Price Chart
Executive Summary
Brookdale Senior Living reported Q1 2026 results with strong same-community operational metrics (RevPAR +8.2%, occupancy +280bps) but total revenue fell 7.1% due to portfolio dispositions. GAAP EPS of -$0.03 missed the consensus estimate of $0.03, while Adjusted EBITDA grew 5.6% to $131M. The company reiterated full-year 2026 guidance of RevPAR growth 8-9% and Adjusted EBITDA $502-516M.
Key Financial Metrics
Key Facts
- Consolidated RevPAR increased 8.2% YoY to $5,506
- Weighted average occupancy improved 280 bps to 82.1%
- Same-community resident fees rose 5.5% YoY
- Total revenue decreased 6.0% to $764.9M due to portfolio sales and lease terminations
- Net loss narrowed to $6.9M from $64.9M a year ago
- Adjusted EBITDA grew 5.6% to $131.1M
- GAAP diluted EPS was -$0.03 vs consensus of $0.03
- Full-year 2026 guidance maintained: RevPAR growth 8-9%, Adjusted EBITDA $502-516M
- Refinanced $184.9M in debt and extended maturities on 7 communities
- Sold 3 communities post-quarter-end for $88M in net cash proceeds
Financial Impact
Operational improvements are positive, but the EPS miss and revenue decline from portfolio shrinkage create uncertainty. The 5.6% Adjusted EBITDA growth and maintained guidance support a moderate positive view, while the GAAP EPS miss may weigh on the stock.
Risk Factors
- Further portfolio dispositions may continue to shrink revenue base
- Labor cost inflation and wage pressures could impact margins
- High leverage (Net Debt $4.0B, 8.8x annualized Adjusted EBITDA) limits financial flexibility
- Interest rate exposure on variable-rate debt ($1.0B unhedged)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001332349-26-000045 |
| Document: a1q26supplemental.htm | 0001332349-26-000045 |
| Document: bkd-20260506.htm | 0001332349-26-000045 |
| Document: 0001332349-26-000045-index-headers.html | 0001332349-26-000045 |
| Document: 0001332349-26-000045-index.html | 0001332349-26-000045 |
| Document: 0001332349-26-000045.txt | 0001332349-26-000045 |
| 8-K Data (Synthetic) | 0001332349-26-000045 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Press Release | $10.08 | awaiting T+60 | — | $9.55 (−5.31%) |
Oct 8, 2026 18d ago | 8-K | $10.12 | awaiting T+60 | — | $9.55 (−5.68%) |
Oct 8, 2026 19d ago | Court Ruling | $10.12 | awaiting T+60 | — | $9.55 (−5.68%) |
Oct 1, 2026 26d ago | Court Ruling | $10.86 | awaiting T+60 | — | $9.55 (−12.11%) |
Sep 3, 2026 7w ago | Court Ruling | $11.77 | awaiting T+60 | — | $9.55 (−18.90%) |
Aug 28, 2026 8w ago | Court Ruling | $11.79 | awaiting T+60 | — | $9.55 (−19.04%) |
Aug 15, 2026 10w ago | Institutional Cluster | $12.23 | awaiting T+60 | — | $9.55 (−21.95%) |
Aug 10, 2026 11w ago | 8-K | $12.55 | awaiting T+60 | — | $9.55 (−23.94%) |
Jun 25, 2026 17w ago | 3 | $15.71 $11.38 | ▼ −27.56% | ▼ −33.67% | $9.55 (−39.24%) |
Jun 24, 2026 17w ago | 8-K | $15.41 $11.45 | ▼ −25.70% | ▼ −29.43% | $9.55 (−38.06%) |
US Market Status
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