Sonida Senior Living, Inc. - SNDA STOCK NEWS

Sonida Senior Living (NYSE: SNDA) will release its fourth quarter and full year 2022 earnings on March 30, 2023, before the market opens. A conference call to discuss the earnings will follow at 2:30 p.m. Eastern Time on the same day. Investors can access the conference call via phone at 877-407-0989 or through a webcast link provided in the press release. The company will also file its 2022 Form 10-K on March 30, 2023. Sonida operates 72 senior housing communities across 18 states, focusing on independent, assisted living, and memory care services for approximately 8,000 residents.

Sonida Senior Living reported a net loss of $13.7 million for Q3 2022, compared to a net income of $36.5 million last year. Despite challenges, the company’s weighted average occupancy improved by 230 basis points year-over-year, reaching 83.7%. Resident revenue rose 7.2% to $52.5 million, while Adjusted EBITDA increased by 41% to $4.4 million. The company faced higher operating expenses, mainly due to labor costs. The management emphasizes ongoing operational improvements and growth in revenue from enhanced team expertise.

Sonida Senior Living (NYSE: SNDA) will release its Third Quarter 2022 earnings before the market opens on November 14, 2022. A conference call to discuss the earnings will occur on the same day at 1:30 p.m. Eastern Time, with a call-in number of 877-407-0989. The call will be recorded for replay until November 29, 2022. Sonida operates 72 communities across 18 states, providing care for approximately 7,800 residents and aims to facilitate comfortable aging for seniors.

Sonida Senior Living reported its Q2 2022 results, showing a 460 basis point increase in weighted average occupancy year-over-year. Resident revenue rose 11.6% to $52 million. Nonetheless, the company experienced a net loss of $8.5 million. Adjusted EBITDAR improved significantly by 1,370 basis points quarter-over-quarter, reaching $4.2 million, aided by a 41% reduction in contract labor costs. The NOI margin decreased slightly by 90 basis points to 20.6% amidst ongoing challenges from the COVID pandemic.

Sonida Senior Living (NYSE: SNDA) announced the resignation of CEO Kimberly Lody after eight years. Brandon Ribar, the former COO, has been promoted to CEO effective September 2, 2022. Lody leaves after leading a significant turnaround plan to stabilize the company, which included exiting unprofitable assets and a recapitalization in November 2021. The company operates 76 communities with a capacity for approximately 9,500 residents. Lody’s departure signals a transition in leadership as the company aims for further growth post-pandemic.

Sonida Senior Living (NYSE: SNDA) announced its Second Quarter 2022 earnings release scheduled before market opening on August 12, 2022. A conference call to discuss earnings will occur on the same day at 1:30 p.m. Eastern Time, accessible via phone at 877-407-0989. An online webcast will also be available. Sonida operates 76 communities across 18 states, with a capacity for approximately 9,500 residents, providing care for senior adults.

Sonida Senior Living (NYSE: SNDA) announces the appointment of Tim Cober as Chief Accounting Officer, effective July 1, 2022. Cober brings extensive experience from Spire Hospitality, where he was Vice President of Accounting. He succeeds Howard Garfield, whose last day is also July 1, 2022. Cober is recognized for his results-driven approach in accounting, overseeing cash management and financial audits. Sonida operates 76 senior living communities across 18 states, accommodating around 9,500 residents, focusing on personalized care and community living.

Sonida Senior Living (NYSE: SNDA) announced that 30 of its communities have received prestigious designations from U.S. News & World Report as Best Independent Living, Best Assisted Living, or Best Memory Care for 2022-23. The recognition reflects feedback from nearly 200,000 survey respondents, evaluating factors such as community amenities, dining, and care quality. Kimberly S. Lody, President and CEO, expressed pride in this achievement, emphasizing the importance of resident and family satisfaction. Sonida operates 76 communities across 18 states, catering to around 9,500 residents.

Sonida Senior Living, Inc. (SNDA) reported a net loss of $17.8 million for Q1 2022, a significant drop from a net income of $38.8 million in Q1 2021. This decline was influenced by a $47 million gain on extinguishment of debt and $8.7 million in CARES Act income received in 2021. Despite the loss, resident revenue rose by 12.5% to $50.8 million, driven by improved occupancy at 82.3%. The company also completed the acquisition of two communities for $12.3 million, enhancing its growth strategy.