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Brookdale Senior Living Shares Rise After Results, Guidance
DOW JONES & COMPANY, INC. 11:18 AM ET 2/19/2020
Symbol Last Price Change
BKD 8.54 +1.61 (+23.23%)
QUOTES AS OF 11:22:28 AM ET 02/19/2020
Brookdale Senior Living Inc. (BKD) shares are up after the operator of senior-living communities posted fourth-quarter results and forecast a rise in 2020 adjusted earnings before interest, tax, depreciation and amortization.
The shares were 22% higher Wednesday, at $8.48.
A day earlier, Brookdale said it expected adjusted Ebitda of between $510 million and $540 million for the full year, or $410 million to $440 million after stripping out a $100 million management-termination fee. For 2019, the company recorded adjusted Ebitda of $401 million, toward the bottom end of its earlier $400 million to $425 million target.
Brookdale said it moved to a net loss of $91.3 million in the final quarter of last year from year-earlier income of $ 131.5 million, while resident-fee and management-fee revenue slipped 1.8% for the period, to $809.7 million, from $824.5 million.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
02-19-201118ET
Copyright (c) 2020 Dow Jones & Company, Inc.
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