In This Article:
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Revenue: $277 million for Q1 2025, up from $243 million in Q1 2024.
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Net Income: $112 million or $0.33 per share for Q1 2025, compared to $69 million or $0.27 per share in Q1 2024.
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Nareit FFO: $184 million or $0.62 per share for Q1 2025, compared to $153 million or $0.60 per share in Q1 2024.
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Adjusted FFO: $221 million or $0.75 per share for Q1 2025.
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Funds Available for Distribution (FAD): $211 million or $0.71 per share for Q1 2025.
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Debt-to-EBITDA: Reduced to 3.7 times.
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Cash and Credit Facility: $368 million in cash and full borrowing capacity of $1.45 billion credit facility.
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Fixed Charge Coverage Ratio: 5.2 times.
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Leverage: Funded debt to annualized adjusted normalized EBITDA at 3.72 times.
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New Investments: $457 million in Q1 2025, including $112 million in new investments and $34 million in CapEx.
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Occupancy Rate: Maplewood's core 17 facilities reached 94% occupancy as of April 2025.
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Guidance: Raised and narrowed full-year adjusted FFO guidance to $2.95 to $3.01 per share.
Release Date: May 02, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Omega Healthcare Investors Inc (NYSE:OHI) reported strong financial results for Q1 2025, with adjusted funds from operations (AFFO) of $0.75 per share and funds available for distribution (FAD) of $0.71 per share.
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The company raised and narrowed its 2025 AFFO guidance to a range of $2.95 to $3.01 per share, reflecting strong earnings performance.
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Omega Healthcare Investors Inc (NYSE:OHI) successfully reduced its leverage to 3.7 times debt-to-EBITDA, the lowest in over 10 years.
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The company completed significant new investments, including a $344 million acquisition of 45 care homes in the UK and Jersey, with an initial cash yield of 10%.
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Omega Healthcare Investors Inc (NYSE:OHI) maintained a strong balance sheet with $368 million in cash and full borrowing capacity of its $1.45 billion credit facility.
Negative Points
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Genesis, a major operator, did not pay its contractual rent of $4.2 million in March, leading Omega Healthcare Investors Inc (NYSE:OHI) to partially pull a letter of credit to cover the shortfall.
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The dilutive impact of significant year-to-date share issuances tempered the strong earnings performance.
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The company faces potential risks from Medicaid reform and provider tax changes, which could impact revenue streams.
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Omega Healthcare Investors Inc (NYSE:OHI) is not currently engaged in restructuring activity with major operators, but there are ongoing concerns about operator liquidity and financial stability.
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The company has exposure to foreign exchange risk due to its significant investments in the UK, which could impact financial performance.