Brookdale Senior Living Inc (BKD) saw its loss widen to $268.49 million, or $1.45 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $174.26 million, or $0.94 a share. Revenue during the quarter went down marginally by 2.17 percent to $1,208.87 million from $1,235.70 million in the previous year period. Operating margin for the quarter stood at negative 14.76 percent as compared to a negative 0.72 percent for the previous year period.
Operating loss for the quarter was $178.37 million, compared with an operating loss of $8.87 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $184.20 million compared with $177.96 million in the prior year period. At the same time, adjusted EBITDA margin improved 84 basis points in the quarter to 15.24 percent from 14.40 percent in the last year period.
Andy Smith, Brookdale's President and Chief executive officer, said, "We accomplished much during 2016, including making significant progress with our portfolio optimization efforts as well as improving our liquidity and the Company's cash flow. We are operating in a difficult environment with intense supply pressure and a competitive labor market. Despite these macro-economic conditions, we were able to grow both fourth quarter Adjusted EBITDA and Adjusted Free Cash Flow over the prior year quarter. With the fourth quarter results, we achieved results at the upper end of our full year guidance range provided last quarter."
Operating cash flow improves significantlyBrookdale Senior Living Inc has generated cash of $365.73 million from operating activities during the year, up 25.09 percent or $73.37 million, when compared with the last year. Cash flow from investing activities was $176.82 million from investing activities during the year as against cash outgo of $568.98 million in the last year. It has incurred net capital expenditure of $35.71 million on net basis during the year, down 90.13 percent or $326.11 million from year ago.
The company has spent $414.19 million cash to carry out financing activities during the year as against cash inflow of $260.56 million in the last year period.
Cash and cash equivalents stood at $216.40 million as on Dec. 31, 2016, up 145.82 percent or $128.37 million from $88.03 million on Dec. 31, 2015.
Working capital remains negative
Working capital of Brookdale Senior Living Inc was negative $111.64 million on Dec. 31, 2016 compared with negative $342.21 million on Dec. 31, 2015. Current ratio was at 0.85 as on Dec. 31, 2016, up from 0.59 on Dec. 31, 2015.
Debt comes down
Brookdale Senior Living Inc has recorded a decline in total debt over the last one year. It stood at $5,829.91 million as on Dec. 31, 2016, down 5.92 percent or $366.90 million from $6,196.81 million on Dec. 31, 2015. Total debt was 63.25 percent of total assets as on Dec. 31, 2016, compared with 61.67 percent on Dec. 31, 2015. Debt to equity ratio was at 2.81 as on Dec. 31, 2016, up from 2.52 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
