This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Emeritus Announces Operating Results For First Quarter 2012

Stocks in this article: ESC

Emeritus Corporation (NYSE: ESC), a national provider of senior living services, today announced its first quarter 2012 results.

Operating Summary for First Quarter 2012 Compared to First Quarter 2011

  • Total revenues increased $22.8 million, or 7.6%, to $323.0 million
  • Adjusted EBITDAR increased $8.3 million, or 10.3%, to $89.3 million
  • CFFO per share, as adjusted, increased 15.2% to $0.38
  • Same community average monthly revenue per occupied unit was steady at $4,104
  • Same community average occupancy increased 20 basis points to 86.7%
  • Same community operating margin increased to 33.2% from to 33.0%

Granger Cobb, President and Chief Executive Officer commented, “We achieved improvements in our community operating margins and cash flow measures consistent with plan, and we expect continued improvement as rate initiatives gain traction throughout the year.”

2012 First Quarter Consolidated Results

Total revenue in the first quarter of 2012 increased 7.6% to $323.0 million. The $22.8 million revenue increase is due primarily to the acquisition of communities (net of dispositions), including 24 communities that the Company acquired in June 2011, which it had previously managed on behalf of a joint venture with an affiliate of Blackstone Real Estate Advisors.

Total average monthly revenue per occupied unit for the consolidated portfolio increased 1.6% to $4,124 in the first quarter of 2012 from $4,059 in the first quarter of 2011. This increase in rate was partially due to the 24 communities added in June 2011 that had higher average rates.

In the first quarter of 2012, total average occupancy for the consolidated portfolio was 86.6% compared to 86.0% in the first quarter of 2011, a 60-basis point improvement. The increase was due to higher occupancy at acquired communities, as well as improved occupancy in the same community portfolio.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs