NYSE$WELL

Welltower Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Welltower's financial performance was impacted by the emerging COVID-19 pandemic and the company took steps to support operators and tenants, and to strengthen its balance sheet.

Welltower Inc. reported first-quarter results, which were impacted by the emerging COVID-19 pandemic, particularly in the seniors housing operating portfolio. The company took steps to support its operators and tenants and to strengthen its balance sheet amidst the challenges.

  • Net income attributable to common stockholders was $0.75 per diluted share.
  • Normalized FFO attributable to common stockholders was $1.02 per diluted share.
  • Pro rata dispositions of $717 million were completed at a blended yield of 5.4%.
  • Net debt to Adjusted EBITDA improved to 5.93x at March 31, 2020, from 6.37x at December 31, 2019.

Headline financials

Total Revenue

$1.26B

Previous: $1.27B-1.1%
EPS (adj)

$1.02

Previous: $1.02+0.0%
Normalized FFO per diluted share

$419M

No prior period
Capital Expenditures

-$720M

Previous: -$238M-203.0%
Free Cash Flow

-$391M

Previous: $54.7M-814.1%
Net Income

$329M

Previous: $292M+12.7%
Operating Income

$225M

Previous: -$543M+141.5%
Gross Profit

$577M

Previous: $601M-4.1%
Cash & Equivalents

$303M

Previous: $249M+21.8%
Total Assets

$32.9B

Previous: $30.6B+7.5%
Stock-Based Comp

$7.08M

Previous: $7.53M-5.9%

Revenue & EPS history

Welltower · Revenue · Quarterly

$1.26B

Q1 2020-1.1%vs Q1 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Welltower · $850M total across 1 segment · Q1 2020

  • Resident fees and services
    $850M

Forward guidance

Due to the unanticipated impact of COVID-19 on Seniors Housing Operating (SHO) portfolio fundamentals and recent revisions to investment outlook and capital plans, Welltower withdrew all components related to full year 2020 guidance on April 17, 2020.

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

+0.7%

Avg return

Earnings day

+2.2%

Avg return

5 days after

+3.0%

Avg return

30 days after

61%

43 / 70 earnings

Positive

+9.1%

Q3 2022

Best reaction

-12.9%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.0%+1.4%-3.9%
Q4 2025+3.5%+4.9%+3.5%
Q3 2025-1.6%-0.9%+12.9%
Q2 2025+0.6%+2.5%+4.5%
Q1 2025+1.6%+1.1%+2.7%
Q4 2024+2.2%+4.6%+3.1%
Q3 2024+5.5%+2.4%+7.0%
Q2 2024+2.2%+2.7%+10.3%
Q1 2024+1.0%+1.6%+6.7%
Q4 2023+6.6%+6.4%+4.7%
Q3 2023+2.8%+8.7%+8.4%
Q2 2023+4.4%+1.7%+2.3%
Q1 2023-0.9%+0.6%-4.7%
Q4 2022+3.0%+2.2%-9.2%
Q3 2022+9.1%+17.4%+6.6%
Q2 2022+2.1%+1.3%-6.4%
Q1 2022-0.1%+1.5%-4.4%
Q4 2021+5.3%+4.0%+15.5%
Q3 2021+2.1%+3.1%-2.9%
Q2 2021-0.6%-0.3%-2.0%
Q1 2021-0.5%+0.0%-2.2%
Q4 2020+2.7%+6.8%+16.1%
Q3 2020+1.1%+5.0%+19.5%
Q2 2020+5.9%+7.8%+14.7%
Q1 2020-12.9%-12.7%+27.8%
Q4 2019+3.3%+5.2%-39.6%
Q3 2019+1.7%+2.4%-2.4%
Q2 2019-0.3%+1.1%+6.7%
Q1 2019+2.6%+4.7%+10.6%
Q4 2018+0.2%+0.2%+0.6%
Q3 2018+0.1%-0.2%+8.3%
Q2 2018-4.1%-2.1%+2.5%
Q1 2018+4.7%+8.6%+12.6%
Q4 2017+0.8%-3.3%-3.6%
Q3 2017+1.1%+0.2%-2.7%
Q2 2017+0.8%-0.5%-1.2%
Q1 2017-0.2%+0.2%+5.6%
Q4 2016+2.9%+4.6%+4.1%
Q3 2016-2.1%-1.7%-6.9%
Q2 2016-2.7%-4.1%-4.0%
Q1 2016+5.8%
Q4 2015+4.7%
Q3 2015-1.6%
Q2 2015-1.8%
Q1 2015-1.0%
Q4 2014+3.2%
Q3 2014+0.4%
Q2 2014+1.7%
Q1 2014+1.2%
Q4 2013-0.7%
Q3 2013-2.8%
Q2 2013-0.9%
Q1 2013-1.3%
Q4 2012-2.0%
Q3 2012+1.5%
Q2 2012-3.3%
Q1 2012-1.2%
Q4 2011-2.6%
Q3 2011-4.3%
Q2 2011+5.6%
Q1 2010+0.2%
Q1 2011-0.2%
Q4 2009+1.7%
Q4 2010+1.7%
Q1 2009+1.7%
Q4 2008+1.7%
Q3 2009-4.4%
Q3 2010-4.4%
Q2 2010+0.2%
Q2 2009+0.2%

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