What is the market's earnings forecast for Sonida Senior Living next quarter?

What were the key takeaways from Sonida Senior Living’s earnings call?

What is Sonida Senior Living's gross profit margin?

What is Sonida Senior Living's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Sonida Senior Living year over year?

What factors drove the changes in Sonida Senior Living's revenue and profit?

What were the key takeaways from Sonida Senior Living's earnings call?

Did Sonida Senior Living beat or miss consensus estimates last quarter?

- **$1.8B CHP Merger**: Accelerates growth, reduces leverage to 6x, and adds 23 high-quality assets.
- **Q3 Financials**: 21% NOI growth, 30% EBITDA improvement, 88% same-store occupancy (highest since 2020).
- **Acquisition Success**: 2024 acquisitions achieved 10% yield on cost, 740 bps occupancy growth, and 4.2% rate increase in 12 months.
- **Labor Efficiency**: Reduced labor hours by 2.5% in Q3, with 2024 acquisitions now operating with permanent staff at 90%+ of needs.
- **Debt Management**: 57% fixed-rate debt, $64M credit facility capacity, and no near-term maturities.

**【CEO Opening Remarks】**
- Announced $1.8 billion merger with CNL Healthcare Properties (CHP), expected to close in Q1/Q2 2026.
- Transaction goals: improve asset quality, accrete AFFO per share, reduce leverage to 6x, and increase free float to $1 billion.
- CHP portfolio adds 23 assets in high-growth markets, enhancing near-term earnings and flexibility for asset recycling.

**【CEO Commentary on Q3 Results】**
- Total portfolio NOI grew 21% YoY, adjusted EBITDA up 30%.
- Same-store occupancy reached 87.7% (Q3) and 88% in October, highest since Q3 2020.
- 2024 acquisitions outperformed expectations: occupancy +740 bps YoY to 83.7%, RevPOR +4.2%, and 10% yield on cost.
- Labor management improvements reduced hours per resident day by 2.5% in Q3, with steady trends in Q4.
- 50% of same-store communities achieved >10% NOI growth YoY, driven by operational excellence.

**【CFO Financial Commentary】**
- Transaction costs: $6.2 million in Q3, with total estimated $75 million for deal completion.
- Balance sheet: 57% fixed-rate debt, 80% of debt maturing after 2029, $64 million credit facility capacity.
- G&A stable at below-normalized levels, with no FTE additions for 2025 acquisitions.
- 2024 acquisitions generated $14 million annualized NOI growth, exceeding 18-24 month underwriting timeline.

**【Q&A Highlights】**
- **Occupancy Trends**: Same-store occupancy growth driven by internal sales (26% vs. 43% external placements YoY), with death-related move-outs returning to normal levels.
- **RevPOR vs. Margin**: Long-term target for same-store margins >30%, achievable through rate growth and labor efficiency.
- **Labor Management**: Eliminated premium labor in acquisition portfolio, with 2024 acquisitions now operating with permanent staff at 90%+ of required levels.
- **Merger Preparation**: Integration planning underway with CHP operators, with focus on operational best practices and cultural alignment.

Sonida Senior Living, Inc. (SNDA) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Adjusted EBITDA +26.1% YoY, same-store NOI +1.8% YoY, total portfolio NOI +5% sequentially.
- **Operational Excellence**: 88.2% occupancy at end of July, 11% YoY increase in level of care fees, 13% reduction in discounts/concessions.
- **Balance Sheet Strength**: 59% fixed-rate debt, weighted average rate 5.6%, $75M credit facility capacity.
- **Acquisition Pipeline**: 3 Q2 acquisitions with >10% cap rates, $60M+ revenue potential from filling in-place vacancy.
- **Cost Control**: G&A flat YoY, nonlabor expenses stable, labor costs offset by rate growth.


**【CEO Summary Section】**
- **Revenue Growth and NOI Performance**: Adjusted EBITDA grew 26.1% YoY in Q2, with same-store NOI up 1.8% YoY and 4% sequentially. Total portfolio NOI improved 5% sequentially. Q2 2024 had a challenging comp due to high NOI margins and specific costs.
- **Operational Challenges and Responses**: Q2 saw 18% higher move-outs (108 residents) vs. Q2 2024, driven by elevated deaths. Enhanced clinical processes reduced move-outs in Q3, with occupancy rising to 88.2% by end of July.
- **Strategic Investments**: 
  - Technology upgrades improved operations and care fees (+11% YoY).
  - Restructured from 3 to 2 operating divisions, investing in sales/marketing without G&A growth.
  - Wage increases for clinical staff reduced turnover (+17% retention) and supported rate growth.
- **Acquisition Pipeline**: 3 Q2 acquisitions (Dallas-Fort Worth community) with cap rates >10%. 2024 acquisitions now at 82% occupancy, driving NOI growth. $60M+ annual revenue potential from filling in-place vacancy.

**【CFO Financial Commentary】**
- **Same-Store Metrics**: Occupancy +40bps YoY to 86.5%, RevPAR +5%, annualized revenue growth $12M. NOI margin 28% (second highest post-COVID).
- **Expense Management**: 
  - Labor costs flat Q/Q despite 1 extra day, with 40bps margin improvement.
  - Nonlabor expenses stable, benefiting from controlled inflation and tech investments.
  - G&A flat YoY, with 2025 acquisitions integrated without FTE additions.
- **Balance Sheet**: 
  - $122M Ally refinancing extended maturity to 2029, reducing interest rate to SOFR +2.65%.
  - 59% fixed-rate debt, weighted average rate 5.6%.
  - $75M credit facility capacity, $33M immediately available.
- **Acquisition NOI Growth**: 2024 acquisitions contributed $12M annualized NOI growth, with $22M+ potential from stabilization.

**【Q&A Key Highlights】**
- **Move-In Dynamics**: July move-ins hit all-time high, 67% from internal channels (vs. paid referrals). Digital leads +48% YoY, no discounts/concessions.
- **Acquisition Strategy**: Targets mid-70s to low-80s occupancy communities with 10%+ stabilization cap rates. Focus on DFW, TX, and other high-growth markets.
- **Labor Costs**: $2.2M Q2 labor increase driven by wage investments, offset by 11% level of care fee growth. Expect rate increases to outpace wage inflation.
- **Occupancy Outlook**: 88.2% same-store occupancy at end of July, with 90bps sequential improvement in August. 8 communities at 100% occupancy.


Sonida Senior Living, Inc. (SNDA) Q2 2025 Earnings Conference Call Transcript

- **Exceptional Growth**: 37.6% YoY total portfolio NOI growth, driven by 19.3% same-store and 31.3% acquisition portfolio expansion.
- **Rate & Margin Strength**: 6.6% renewal rate increase, 27.6% same-store margin (280bps YoY), and 9.1% acquisition yield on cost.
- **Operational Excellence**: Lowest employee turnover, 7% lead volume growth, and 100bps occupancy improvement in same-store.
- **Strategic Acquisitions**: Two Q2 deals in Florida/Georgia targeting 10%+ NOI yields, with $22M total investment.
- **Repositioning ROI**: 5 Indiana assets transitioning to private pay with 30%+ ROI target and $4-5M capital spend.

**【CEO Opening Remarks】**
- **Strong Q1 Performance**: Total portfolio NOI grew 37.6% YoY, with same-store NOI up 19.3% and acquisition portfolio NOI up 31.3% sequentially.
- **Rate Increases**: 6.6% average renewal rate increase (impacting 70% of residents) and 5.5% RevPOR growth in same-store portfolio.
- **Operational Excellence**: 100bps YoY occupancy improvement in same-store (86.8%), 7% lead volume growth, and lowest employee turnover on record.
- **Future Growth**: Two new Q2 acquisitions in Florida and Georgia, targeting low double-digit NOI yields post-stabilization.

**【CFO Financial Highlights】**
- **Same-Store Metrics**: $60M annualized revenue growth (7.4%), 19.3% NOI growth, and 27.6% margin (280bps YoY expansion).
- **Acquisition Portfolio**: 31.3% NOI growth sequentially, 26.3% margin (450bps QoQ improvement), and 9.1% implied yield on cost.
- **Cost Control**: 110bps YoY labor expense reduction, $200K non-labor cost increase (in line with inflation), and stabilized G&A expenses.
- **Balance Sheet**: 61% fixed-rate debt, 5.4% weighted average interest rate, $90M credit facility capacity, and compliance with all covenants.

**【CEO Capital Allocation & Acquisitions】**
- **Repositioning Portfolio**: 5 Indiana assets transitioning to private pay (30%+ ROI target), with $4-5M capital spend and Medicaid revenue reduction from 9% to <5%.
- **Southeast Expansion**: 10 Q4 2024 acquisitions generating 10%+ NOI yield, $2M capital investments, and two new Q2 deals ($22M total) in Florida/Georgia.
- **Operational Playbook**: 4x NOI growth in Stone JV portfolio (from $1.5M to $6M) via leadership training, process integration, and expense management.

**【Q&A Key Takeaways】**
- **Repositioning Timeline**: Units out of service through Q2, with occupancy targets to be updated post-renovation completion.
- **Pipeline Discipline**: Focused on accretive, off-market deals with clear operational upside, avoiding growth for growth's sake.
- **Return Targets**: Repositioning assets targeting >30% ROI, new acquisitions aiming for low double-digit stabilized yields.

Sonida Senior Living (SNDA)-12 May 25-2025 Q1 Earnings call transcript

- **Revenue Growth Outperforms Peers**: 27% YoY EBITDA growth and 21% NOI expansion, driven by 6% RevPAR and 180bps occupancy gains.
- **Acquisition Pipeline Powering Growth**: 2024 acquisitions (76% occupancy, 21.7% margin) poised for 2025 NOI outperformance, with $22M potential uplift from stabilization.
- **Cost Efficiency**: 10% YoY employee turnover decline; digital marketing reduces referral fees, non-labor expenses -60bps to 26.9% of revenue.
- **Balance Sheet Strength**: 61% fixed-rate debt, $90M available on $150M credit facility, targeting 7x leverage by 2025.
- **2025 Outlook**: $100M+ NOI run rate achievable with 90% occupancy and 30% margin, supported by 6.3% rate growth and limited supply.

**【CEO Opening Remarks】**
- **Revenue Growth**: 19% and 27% year-over-year (YoY) growth in same-store adjusted community NOI and EBITDA, respectively, driven by 180 basis points (bps) occupancy improvement and 6% RevPAR growth.
- **Acquisition Integration**: Successfully integrated 23 new communities (20 owned, 3 managed), expanding units by nearly 30%, with Q4 2024 NOI contribution of $9 million (13% growth vs. 2024 full year).
- **2025 Outlook**: Target same-store NOI growth at the high end of peer group, with 70%+ NOI flow-through from revenue growth. Acquired communities (76% occupancy, 21.7% NOI margin) expected to outpace stable portfolio.
- **Operational Excellence**: 10% YoY decline in employee turnover; digital marketing enhancements (15% YoY lead volume growth) reduced third-party referral fees.

**【CFO Financial Highlights】**
- **Q4 2024 Results**: 
  - Same-store revenue +7.5% (5.1% rate growth, 180bps occupancy), NOI +21% ($11.4M), NOI margin +90bps to 24.6%.
  - Total NOI: $100M+ annualized run rate, with $22M potential uplift from 90% occupancy and 30% margin stabilization.
- **Balance Sheet**: 
  - 61% fixed-rate debt, 4.7% WACC (5.4% incl. credit facility), $90M available on $150M credit facility.
  - 2024 debt restructuring: $18.3M discounted payoff, $10M principal paydowns on $220M Fannie Mae loans.
- **Expense Management**: 
  - Non-labor expenses -60bps to 26.9% of revenue; labor costs stabilized with 2.1% YoY FTE growth.

**【Q&A Key Takeaways】**
- **Pricing Trends**: 2025 rate renewal expected to match 2024's 6.3% increase; acquired communities (76% occupancy) offer significant upside.
- **Labor Dynamics**: No material impact from immigration policy; focus on direct labor (phase out shift bonuses, overtime).
- **Supply-Demand**: Industry underbuilding (2,000 units/quarter vs. 4M net 80+ population growth by 2030) supports occupancy growth.
- **Acquisition Pipeline**: 2025 deal flow similar to 2024, targeting underperforming assets with 10%+ cap rates.


SNDA

SNDA fundamentals

Earnings Call

You can ask Aime