NASDAQ$SBRA

Sabra Health Care REIT Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Sabra reported first quarter results, highlighting acquisitions, sales, and the impact of COVID-19.

Sabra Health Care REIT reported a net income attributable to common stockholders of $35.2 million, or $0.17 per diluted common share, for the first quarter of 2020. The company acquired senior housing communities, sold skilled nursing facilities, and addressed the challenges posed by the COVID-19 pandemic, including withdrawing its 2020 earnings guidance.

  • Net income attributable to common stockholders was $0.17 per diluted common share.
  • Acquired two Senior Housing - Leased communities and one Senior Housing - Managed community for $83.4 million.
  • Completed the sale of three Skilled Nursing/Transitional Care facilities for $6.8 million.
  • Withdrew previously provided 2020 earnings guidance due to COVID-19 uncertainty.

Headline financials

Total Revenue

$149M

Previous: $137M+9.2%
EPS (adj)

$0.45

Previous: $0.48-6.2%
FFO per diluted common share

$0.42

No prior period
Normalized FFO per share

$0.45

No prior period
AFFO per diluted common share

$0.44

No prior period
Normalized AFFO per share

$0.44

No prior period
Capital Expenditures

-$79.2M

Previous: -$5.07M-1462.1%
Free Cash Flow

-$44M

Previous: -$82.8M+46.8%
Net Income

$35.2M

Previous: -$77.7M+145.3%
Operating Income

$142M

Previous: $24.4M+482.2%
Gross Profit

$149M

Previous: $137M+9.2%
Cash & Equivalents

$54.1M

Previous: $22.9M+136.3%
Total Assets

$6.09B

Previous: $6.46B-5.6%
Stock-Based Comp

$2.36M

Previous: $2.78M-15.0%

Revenue & EPS history

Sabra Health Care REIT · Revenue · Quarterly

$149M

Q1 2020+9.2%vs Q1 2019
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Sabra Health Care REIT · $149M total across 3 segments · Q1 2020

  • Rental and related revenues
    $107M
  • Resident fees and services
    $40M
  • Interest and other income
    $2.85M

Forward guidance

Due to the uncertainty surrounding the ultimate impact of the COVID-19 pandemic on our operators and business, we are withdrawing our previously provided 2020 earnings guidance in its entirety.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-0.5%

Avg return

Earnings day

-0.2%

Avg return

5 days after

-0.4%

Avg return

30 days after

45%

27 / 60 earnings

Positive

+10.4%

Q1 2022

Best reaction

-13.1%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.5%+0.1%-2.3%
Q3 2025+2.3%+4.2%+11.7%
Q1 2025+1.2%+0.1%-0.2%
Q4 2024-1.0%-0.8%+4.3%
Q3 2024-4.8%-4.1%-4.3%
Q2 2024-0.1%-1.1%+4.7%
Q1 2024-1.7%-1.7%-5.1%
Q4 2023+0.4%+0.4%+6.0%
Q3 2023+0.7%+2.0%+1.6%
Q2 2023+0.8%-0.9%-1.2%
Q1 2023-0.5%+1.7%+1.7%
Q4 2022-4.2%-6.3%-22.0%
Q3 2022-13.1%-3.5%-7.1%
Q2 2022+0.0%+2.9%-4.0%
Q1 2022+10.4%+6.0%+10.4%
Q4 2021-3.9%-0.7%+5.6%
Q3 2021-2.1%-0.1%-11.2%
Q2 2021-3.7%-4.7%-8.7%
Q1 2021-2.2%+0.0%-1.3%
Q4 2020+1.7%-3.6%-0.8%
Q3 2020-4.0%+15.7%+27.6%
Q2 2020+4.4%+7.7%+5.9%
Q1 2020-5.7%-1.6%+35.6%
Q4 2019-3.5%-11.1%-50.1%
Q3 2019+3.3%+0.6%-6.4%
Q2 2019+5.5%+4.5%+8.5%
Q1 2019-1.6%+0.5%-0.5%
Q4 2018-2.7%-9.6%-2.0%
Q3 2018-0.6%-1.4%-12.9%
Q2 2018-0.3%-0.3%+3.4%
Q1 2018+3.3%+2.9%+7.6%
Q4 2017+2.8%+4.8%+0.2%
Q3 2017-1.5%-2.7%-2.7%
Q2 2017+1.6%+0.9%-4.1%
Q1 2017-10.2%-8.8%-14.2%
Q4 2016+0.6%+5.4%+6.7%
Q3 2016-8.9%-7.2%-0.4%
Q2 2016+1.6%+2.4%+6.6%
Q1 2016+4.4%
Q4 2015+8.3%
Q3 2015-2.9%
Q2 2015-4.6%
Q1 2015-6.0%
Q4 2014-0.9%
Q3 2014-0.9%
Q2 2014-2.0%
Q1 2014-2.6%
Q4 2013+0.8%
Q3 2013+4.1%
Q2 2013-7.3%
Q1 2013+2.4%
Q4 2012+0.0%
Q3 2012+2.6%
Q2 2012+3.0%
Q1 2011-4.6%
Q1 2012+2.4%
Q4 2011+5.1%
Q3 2011+7.5%
Q2 2011+3.9%
Q4 2010-6.5%

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