Brookdale Senior Living finally reported fourth quarter earnings, and they were no better and no worse than could have been expected.
While I can’t say it was worth the wait, Brookdale Senior Living finally reported fourth quarter earnings, and it was no better and no worse than what could have been expected given industry trends. That was probably good news. Executive Chairman Dan Decker started the earnings call by stating that they would not be discussing strategic options on the call, which was smart, other than to say that of course they want to maximize shareholder value, but it remains to be seen how that is done, and when. Occupancy at Brookdale declined sequentially and year over year, which was expected given the NIC data and was in line with expectations. They have cut overhead expenses and cash flow is rising as a result, but they expect the significant industry headwinds of new development openings and labor to impact the company through the rest of the year. So what else is new? Investors yawned, as it appears the status quo rules, for now. Unless someone offers a significant premium for the company, it looks like management will bide their time. And why not? Where is Blackstone?
