Q4 2024 Sonida Senior Living Inc Earnings Call Transcript
Key Points
- Sonida Senior Living Inc (SNDA) achieved significant year-over-year growth in same-store adjusted community NOI and adjusted EBITDA, with increases of 19% and 27%, respectively.
- The company successfully integrated 20 owned and three managed communities, representing a near 30% increase in total units to the portfolio.
- Sonida Senior Living Inc (SNDA) executed six transactions totaling more than $250 million in gross asset value, enhancing its capital allocation strategy.
- Employee turnover decreased nearly 10% in 2024, reflecting successful investment in employee experience and retention strategies.
- The company reported a 15% year-over-year increase in lead volume and an 11% increase in tour volume, indicating strong demand and effective marketing strategies.
- Q4 2024 was the first quarter since the pandemic where Sonida Senior Living Inc (SNDA) did not realize occupancy growth from the previous quarter, with a slight decline in occupancy.
- The company faced challenges with Medicaid-related aging in Indiana, leading to an increase in bad debt expense.
- Despite improvements, the company still relies on third-party sales referral partners, which could impact cost efficiency.
- Sonida Senior Living Inc (SNDA) has a significant debt maturity of $113 million due in March 2027, which may require strategic financial planning.
- The company anticipates no significant one-time real estate tax credits in the future, which could impact financial performance compared to previous years.
Hello, and welcome to Sonida Senior Living fourth quarter and full-year 2024 earnings call. Please note that this call is being recorded. (Operator Instructions)
I'd now like to hand the call over to Jason Finkelstein, Investor Relations. You may now begin.
Thank you, operator. All statements made today, March 17, 2025, which are not historical facts may be deemed to be forward-looking statements within the meaning of Federal securities laws. The company expressly disclaims any obligation to update these statements in the future. Actual results and performance may differ materially from forward-looking statements. Certain factors that can cause actual results to differ are detailed in the earnings release that the company issued earlier today as well as in the reports that the company files with the SEC from time to time, including the risk factors contained in the annual report on Form 10-K and quarterly reports on Form 10-Q.
Please see today's press release for the full safe
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