Bullish indicating open at $55-$60, IPO prices at $37
DALLAS - Sonida Senior Living , Inc. (NYSE:SNDA) reported better-than-expected fourth quarter results, sending shares up 2.9% in Monday’s trading.
The senior housing operator posted a loss of $0.38 per share for Q4, beating analyst estimates for a loss of $0.71 per share. Revenue came in at $91.93 million, up 30% YoY from $59.3 million in Q4 2023.
Sonida’s weighted average occupancy for its owned same-store portfolio increased 70 basis points to 86.6% in Q4 2024 compared to 85.9% in the year-ago quarter. Same-store resident revenue rose 6% YoY to $3.6 million.
"2024 was a transformative year for Sonida, highlighted by the combination of organic and inorganic growth and continued strengthening of our balance sheet," said Brandon Ribar, President and CEO. "We delivered another year of strong NOI growth in our same-store portfolio, driven by improvements across all key metrics."
For the full year 2024, Sonida reported a net loss of $2.1 million, a significant improvement from the $21.1 million loss in 2023. Adjusted EBITDA increased 27.4% to $43.2 million.
The company completed several acquisitions in Q4, including two communities in Atlanta for $29 million and an unoccupied facility in Cincinnati for $16.3 million. Sonida also extended $220 million in Fannie Mae (OTC:FNMA) loans to 2029 and expanded its revolving credit facility to $150 million.
With its recent growth initiatives and improved operational performance, Sonida appears positioned for further gains in occupancy and revenue in 2025. The positive market reaction suggests investors are encouraged by the company’s progress and outlook.
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