Published on 23 Feb 2024 on Zacks via Yahoo Finance
Brookdale Senior's (BKD) Q4 Loss Widens, Shares Drop 13%
Brookdale Senior Living Inc. BKD shares have declined 13.1% since it reported fourth-quarter 2023 results on Feb 20, 2024. A wider-than-expected loss is likely to have worried investors. Its net income was hurt by an increase in general and administrative expenses, and facility operating lease costs. Nevertheless, the downside was partly offset by improved resident fee revenues, interest income and occupancy rates.
Brookdale Senior incurred a fourth-quarter adjusted loss of 40 cents per share, wider than the Zacks Consensus Estimate of a loss of 19 cents per share and the year-ago quarter’s loss of 13 cents per share.
Total revenues and other operating income rose 7.7% year over year to $754.5 million on the back of higher resident and management fee revenues.