Q4 2025 Welltower Inc Earnings Call Transcript
Key Points
- Welltower Inc (WELL) reported a 36% revenue growth, 32% EBITDA growth, and 22% FFO per share growth for 2025.
- The company successfully launched its private funds management business and overhauled its incentive structure.
- Welltower Inc (WELL) completed nearly $11 billion of net investment activity, primarily in high-growth senior housing properties.
- The company achieved a 13th consecutive quarter of over 20% same-store net operating income growth in its senior housing operating portfolio.
- Welltower Inc (WELL) has a robust acquisition pipeline for 2026, with $5.7 billion of acquisitions already completed or under contract in the first six weeks of the year.
- Despite strong performance, the senior living business remains challenging due to varying needs and wants of residents.
- The company faces macroeconomic and geopolitical uncertainties, which could impact future performance.
- Welltower Inc (WELL) has a significant amount of capital tied up in ongoing investments, which may not contribute to near-term results.
- The transition to a vertically integrated hardware plus software model has been difficult and is still ongoing.
- The company is dealing with high construction costs and long-term interest rates, which could affect future development projects.
Hello, and welcome to the Welltower fourth-quarter 2025 earnings call. (Operator Instructions)
I would now like to turn the conference over to Matt McQueen, Chief Legal Officer. You may begin.
Thank you, and good morning. As a reminder, certain statements made during this call may be deemed forward-looking statements in the meaning of the Private Securities Litigation Reform Act. Although Welltower believes any forward-looking statements are based on reasonable assumptions, the company can give no assurances that its projected results will be attained. Factors that could cause actual results to differ materially from those in the forward-looking statements are detailed in the company's filings with the SEC.
And with that, I'll hand the call over to Shankh for his remarks.
Thank you, Matt, and good morning, everyone. This morning, I'll provide some high-level thoughts on the business
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