Sonida Senior Living, Inc. ( (SNDA) ) has released its Q3 earnings. Here is a breakdown of the information Sonida Senior Living, Inc. presented to its investors.
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Sonida Senior Living, Inc., based in Dallas, Texas, is a prominent owner, operator, and investor in senior housing communities, offering independent living, assisted living, and memory care services across 20 states. The company provides compassionate care and engaging programs for senior adults.
In its third-quarter 2024 earnings report, Sonida Senior Living highlighted a significant portfolio expansion and notable financial improvements. The company reported an increase in same-store community revenue, occupancy rates, and net operating income, reflecting a robust operational strategy.
Key financial metrics for the quarter showed a 6.6% increase in same-store resident revenue and a 210 basis point rise in occupancy to 87%. The net loss attributable to stockholders improved by $4.6 million compared to the same period last year. Additionally, Adjusted EBITDA rose by 8.7% year-over-year, driven by enhanced operational efficiencies.
Sonida’s strategic growth included acquiring 19 senior living communities, which expanded its portfolio by 30% in the past six months. The company also raised $130.4 million through a public offering and secured a $75 million credit facility extension, enhancing its capital structure.
Looking forward, Sonida Senior Living remains focused on its multi-year growth trajectory, leveraging its expanded portfolio and strong financial foundation to drive further revenue and margin improvements.
