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Capital Senior Living Corporation (NYSE: CSU) will release its Q2 2021 earnings on August 12, 2021, before market opens. A conference call to discuss these earnings will follow at 2:30 p.m. ET the same day, accessible at 877-407-0989. The call will be recorded for replay from August 13 to August 26, 2021. The company operates 75 senior living communities across 18 states, serving nearly 7,000 residents and focusing on compassionate care.
Capital Senior Living Corporation (CSU) plans to raise up to $152.5 million via a private placement of convertible preferred stock and a rights offering. Conversant Capital will backstop part of this offering and provide an additional $25 million for investment. The funds will be used for working capital, debt repayment, and growth initiatives. The average occupancy in June reached 79.1%, a significant recovery from the pandemic lows. This strategic investment aims to enhance the company's balance sheet and liquidity while driving growth in the senior living sector.
Capital Senior Living Corporation (NYSE: CSU) reported significant progress in June 2021, achieving an occupancy rate of 79.1%, marking a 380 basis points increase from its pandemic low of 75.3% in February 2021. This growth is attributed to rising vaccination rates among residents, less restrictive visitation policies, and enhanced resident-centric programs like the Magnolia Trails memory care initiative.
Capital Senior Living Corporation (NYSE: CSU) reported an increase in May occupancy to 78.2%, up 294 basis points from the pandemic low of 75.3% in February 2021. Over 53% of its 60 owned communities, as well as nearly all managed communities, are now performing above pre-pandemic levels from February 2020. The rise in occupancy is credited to effective safety protocols, a successful vaccination program, and new resident-centric initiatives. The company has lifted its mask mandate for vaccinated residents and staff, complying with CDC guidelines while adapting to state regulations.
Capital Senior Living Corporation (NYSE: CSU) announced its selection for the Russell Microcap® Index, effective June 28, 2021. This inclusion lasts for one year and enhances the company's visibility among investors. CEO Kimberly S. Lody highlighted the company's recent focus on financial stability and operational excellence, positioning it for growth in the expanding middle market senior demographic. Russell indexes are widely recognized in the investment community, with over $10.6 trillion in assets benchmarked against them.
Capital Senior Living Corporation (NYSE: CSU) reported its first quarter 2021 financial results, showcasing a redefined portfolio of 60 owned communities. Average occupancy improved to 75.5% in Q1 2021, with a notable rise to 76.9% in April. The company achieved a 93% vaccination rate among residents and recorded nearly zero COVID-19 cases. A significant gain of $47 million was recognized from extinguishing debt linked to three communities transferred to Fannie Mae. However, revenue dropped by 57% year-over-year due to property dispositions, impacting overall financial performance.
Capital Senior Living Corporation (NYSE: CSU) will release its Q1 2021 earnings on May 13, 2021, before the market opens. A conference call for discussion is scheduled for the same day at 2:30 p.m. Eastern Time. Investors can join the call by calling 877-407-0989, and a webcast will be available online. The conference call will be recorded for replay until May 27, 2021. The company operates 80 communities for nearly 7,000 residents across 19 states, focusing on independent living, assisted living, and memory care services.
Capital Senior Living Corporation (CSU) has completed COVID-19 vaccinations in its communities, with 88% of residents fully vaccinated and 90% having received at least one dose. The company, partnering with CVS Health, has offered no-cost vaccines to employees and residents. As safety measures remain, family visitations for fully vaccinated residents have resumed. March occupancy rates reached 75.2%, with a spot occupancy of 76.7% as of March 31. Vaccinated newcomers can enjoy amenities without quarantine, while unvaccinated residents must adhere to health protocols.
Capital Senior Living Corporation (NYSE: CSU) reported its Q4 and full-year 2020 results, highlighting a transformational strategy aimed at stabilizing and growing the business. The Company exited all triple-net leases, reducing liabilities by $265.4 million, leading to increased cash flow of over $22 million. However, revenue fell by approximately $28.5 million to $80.2 million for Q4 due to significant property transitions and lower occupancy rates, which dipped to 74.2%. The Company recorded a net loss of $20.5 million in Q4 and $295.4 million for the year, amidst aggressive COVID-19 measures resulting in nearly 90% senior vaccination rates.
Capital Senior Living Corporation (CSU) will announce its Q4 and full year 2020 earnings on March 31, 2021, before market opening. The earnings call is scheduled for 2:30 PM ET the same day, available via phone at 877-407-0989 or through a webcast. The replay will be available until April 14, 2021.
CSU operates 81 senior living communities across 20 states, serving nearly 7,000 residents.
