Omega Healthcare Investors

OHI Q2 2025 Earnings

Reported Jul 31, 2025 at 4:17 PM ET · SEC Source

Q2 25 EPS

$0.46

BEAT +12.11%

Est. $0.41

Q2 25 Revenue

$282.5M

BEAT +16.12%

Est. $243.3M

vs S&P Since Q2 25

+9.0%

BEATING MARKET

OHI +24.9% vs S&P +15.9%

Market Reaction

Did OHI Beat Earnings? Q2 2025 Results

Omega Healthcare Investors delivered a standout second quarter, with earnings per share of $0.46 beating the $0.41 consensus estimate by 12.11% and revenue of $282.51 million clearing Wall Street expectations by 16.12% while climbing 11.8% year over … Read more Omega Healthcare Investors delivered a standout second quarter, with earnings per share of $0.46 beating the $0.41 consensus estimate by 12.11% and revenue of $282.51 million clearing Wall Street expectations by 16.12% while climbing 11.8% year over year. The primary engine behind those results was an aggressive $527 million deployment of capital during the quarter, anchored by a $344.20 million acquisition of 45 facilities across the U.K. And the Bailiwick of Jersey, which drove rental income to $235.60 million from $210.40 million a year ago. Adjusted FFO reached $232.22 million, or $0.77 per diluted share, compared to $0.71 per share in Q2 2024, reflecting the portfolio's expanded earnings base. Executives pointed to improving operator occupancy of 82.2% and EBITDARM coverage rising to 1.88x as evidence of continued recovery in the skilled nursing sector, even as Genesis Healthcare's Chapter 11 filing added a note of caution. Omega raised its full-year 2025 AFFO guidance to $3.04 to $3.07 per share, up from the prior $2.95 to $3.01 range, underpinned by $605 million in year-to-date investments.

Key Takeaways

  • Rental income growth to $235.6 million from $210.4 million in Q2 2024
  • Approximately $527 million in new Q2 investments including $502 million in real estate acquisitions
  • Improved operator occupancy to 82.2% with EBITDARM coverage of 1.88x
  • Growing FAD per share to $0.74 from $0.68 in Q2 2024
  • U.K. portfolio expansion with 45-facility acquisition for approximately $344 million
  • Maplewood rent increase to $17.6 million from $15.6 million in Q1
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OHI YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

“We are pleased with our second quarter results, as we continue to grow FAD per share while further de-levering the balance sheet. We have accretively invested approximately $605 million year-to-date and, as a result, we are increasing our 2025 AFFO guidance again to now be between $3.04 and $3.07 per share, up from our prior guidance range of between $2.95 and $3.01 per share.”

— Taylor Pickett, Q2 2025 Earnings Press Release