Highlights

  • Consolidated weighted average occupancy was 83.4% in September 2026, and month end consolidated occupancy was 84.6%.
  • Third quarter 2026 weighted average consolidated occupancy was 83.1%, which the company said grew 130 basis points year over year.
  • Management cited second quarter 2026 net income of $23.3 million, adjusted EBITDA of $122.1 million and resident fees of $708.5 million.
  • Management reaffirmed 2026 RevPAR growth of 8% to 9% and adjusted EBITDA of $502 million to $516 million.

Brookdale Senior Living Inc. (NYSE: BKD) shares were trading at USD 9.60 on October 27, 2026, down 1.64%, with a relative volume at time of 3.43. The senior living operator reported September 2026 occupancy on October 8, 2026, after management held its second quarter 2026 earnings call in August and reaffirmed its full year 2026 guidance.

Brookdale is incorporated in Delaware and lists its principal executive offices at 105 Westwood Place in Brentwood, Tennessee. As of September 30, 2026, it operated 529 communities across 41 states with the ability to serve approximately 45,000 residents. Through its affiliates, the company operates independent living, assisted living, memory care and continuing care retirement communities.

September 2026 Occupancy

In its October 8, 2026 release, Brookdale reported consolidated weighted average occupancy of 83.4% for September 2026, compared with 82.5% in September 2025. Month end consolidated occupancy was 84.6%, compared with 83.8% a year earlier. On a same community basis, weighted average occupancy was 83.8% and month end occupancy was 84.9%.

For the third quarter of 2026, the company said weighted average consolidated occupancy grew 130 basis points year over year to 83.1%. Sequential consolidated and same community weighted average occupancy both grew 70 basis points. Brookdale said this compared with results for the National Investment Center for Seniors Housing & Care stabilized senior housing market for the same sequential period. The company reported consolidated occupancy of 82.4% for the second quarter of 2026 and 82.1% for the first quarter.

Second Quarter 2026 Results From the Call

The release of October 8 does not include earnings. The latest earnings commentary comes from the August 2026 call on second quarter results. Management cited RevPAR of $5,497, net income of $23.3 million, compared with a net loss of $43 million in the prior year period, and adjusted EBITDA, a non-GAAP measure, of $122.1 million.

Resident fees were $708.5 million, which management said was an 8.7% decline tied to portfolio optimization and community dispositions. Total average units were 42,820, and management said that was a 15.7% reduction from lease terminations and asset sales. Management also said occupancy growth in 2026 had not inflected as quickly as anticipated and that the pace of improvement in lower occupied communities was not sufficient. Communities under 80% occupancy numbered 211 in the second quarter.

Liquidity, Leverage and Capital Plans

Management said total liquidity was $565.8 million at June 30, 2026, made up of $370.4 million in cash, $19.9 million in marketable securities and $175.6 million in credit availability. Annualized leverage was 8.4x, compared with 8.8x at the end of the first quarter. The company stated a goal of deleveraging to a ratio below 6x by the end of 2028. It obtained $248.9 million of fixed-rate financing at 6.2% to repay 2027 maturities.

Brookdale closed the acquisition of its Galleria community in Houston, a 244-unit community, for $23.4 million at the end of June. It also plans to acquire 17 communities it currently leases, with 735 units, for approximately $157 million. Management said the transaction is expected to close in the fourth quarter of 2026 and to add approximately $11 million to 2027 adjusted EBITDA.

2026 Outlook

Management reaffirmed 2026 guidance of RevPAR growth of 8% to 9% and adjusted EBITDA of $502 million to $516 million. It forecast 2026 capital expenditures between $175 million and $195 million and planned about 30 First Impressions projects with average spend of $500,000 to $600,000 per community. Management said it expects an accelerated rate of growth in the second half of 2026. These statements are forward-looking and subject to change.