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Five Star Senior Living Inc. Announces Third Quarter 2018 Results

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Financial Results for the quarter ended September 30, 2018: 
– Senior living revenue for the third quarter of 2018 decreased 2.5% to $272.7 million from $279.7 million for the same period in 2017, primarily due to Five Stars sale of six senior living communities in December 2017, January 2018, February 2018 and June 2018 to Senior Housing Properties Trust (Nasdaq: SNH), which Five Star is currently managing for SNH, the sale by Five Star and SNH of one skilled nursing facility to a third party in June 2018 that was previously leased to Five Star and a decrease in occupancy, partially offset by an increase in revenues from ancillary services, such as rehabilitation and wellness services.

Management fee revenue for the third quarter of 2018 increased 17.4% to $4.0 million, primarily due to an increase in the number of managed communities compared to the same period in 2017. Net loss for the third quarter of 2018 was $21.6 million, or $0.43 per diluted share, compared to net loss of $6.6 million, or $0.13 per diluted share, for the same period in 2017. Net loss for the third quarter of 2017 included a $0.8 million, or $0.02 per diluted share, payment that Five Star received from its former liability insurer related to a previously disclosed litigation matter, or the litigation recovery. Earnings before interest, taxes, depreciation and amortization, or EBITDA, for the third quarter of 2018 was $(12.4) million compared to $4.1 million …

[Read on via official release]

Source: US SEC
View full document:
8-K_for_FIVE_STAR_SENIOR_LIVING_INC_8-K-11-14-2018