Not surprisingly, Omega Healthcare Investors (NYSE:OHI) withdraws its 2020 guidance issued in February as it didn’t contemplate adverse effects from the COVID-19 pandemic.
OHI’s operators are facing a “challenging period
on all fronts… they have seen declining occupancy and significantly
elevated costs combine to materially impact their financial
performance,” said Omega CEO Taylor Pickett.
He adds that federal and state agencies overseeing
skilled nursing have “acted quickly and effectively to provide
financial support to the industry.”
Q1 adjusted FFO per share of 79 cents beats the consensus estimate of 78 cents.
Q1 revenue $253.0M exceeds the $218.0M consensus estimate and increased from $223.7M a year ago.
Q1 total operating expenses of $107.1M compares with $101.5M a year ago.
Conference call on May 5 at 10:00 AM ET.
Previously: Omega Healthcare Investors FFO beats by $0.01, beats on revenue (May 4)
https://seekingalpha.com/news/3568731-omega-healthcare-withdraws-guidance-covidminus-19-affects-operators