Omega Healthcare Investors, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:35 pm
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Omega Healthcare Investors, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 215.01 million compared to USD 207.54 million a year ago. Revenue was USD 250.19 million compared to USD 244.65 million a year ago. Net income was USD 59.86 million compared to USD 89.47 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to USD 0.38 a year ago.
For the six months, sales was USD 400.11 million compared to USD 420.88 million a year ago. Revenue was USD 468.39 million compared to USD 493.96 million a year ago. Net income was USD 95.8 million compared to USD 279.07 million a year ago. Basic earnings per share from continuing operations was USD 0.41 compared to USD 1.17 a year ago. Diluted earnings per share from continuing operations was USD 0.4 compared to USD 1.17 a year ago.
Omega Healthcare Investors, Inc. is a real estate investment trust (REIT). The Company operates through a single segment, which invests in healthcare-related real estate properties located in the United States and the United Kingdom. Its core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (SNFs), assisted living facilities (ALFs), and to a lesser extent, independent living facilities (ILFs), rehabilitation and acute care facilities (specialty facilities) and medical office buildings (MOBs). Its core portfolio consists of its long-term leases and real estate loans with healthcare operating companies and affiliates. In addition, the Company makes loans to operators and/or their principals. The Company's portfolio of real estate investments includes over 891 healthcare facilities, located in 42 states and the United Kingdom that are operated by 74 third-party operators.