Omega Healthcare Investors, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 02:50 am IST
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Omega Healthcare Investors, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 204 million compared to USD 110.15 million a year ago. Revenue was USD 239.32 million compared to USD 144.85 million a year ago. Net income was USD 55 million compared to USD 45.58 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.22 compared to USD 0.19 a year ago.
For the full year, sales was USD 810.02 million compared to USD 734.24 million a year ago. Revenue was USD 949.74 million compared to USD 878.24 million a year ago. Net income was USD 242.18 million compared to USD 426.93 million a year ago. Basic earnings per share from continuing operations was USD 1.01 compared to USD 1.81 a year ago. Diluted earnings per share from continuing operations was USD 1 compared to USD 1.8 a year ago.
Omega Healthcare Investors, Inc. is a real estate investment trust (REIT). The Company operates through a single segment, which invests in healthcare-related real estate properties located in the United States and the United Kingdom. Its core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (SNFs), assisted living facilities (ALFs), and to a lesser extent, independent living facilities (ILFs), rehabilitation and acute care facilities (specialty facilities) and medical office buildings (MOBs). Its core portfolio consists of its long-term leases and real estate loans with healthcare operating companies and affiliates. In addition, the Company makes loans to operators and/or their principals. The Company's portfolio of real estate investments includes over 891 healthcare facilities, located in 42 states and the United Kingdom that are operated by 74 third-party operators.