Brookdale Senior Living Reports Revenue Decline and Improved Net Loss in Q1 2026

Brookdale Senior Living Inc. reported a decline in financial performance for the first quarter of 2026, with total revenue of $764.9 million, down 6% from $813.9 million in the same period last year. The decrease in revenue was primarily attributed to the sale of several communities, which resulted in a $93.1 million reduction in resident fees. Despite the revenue drop, the company achieved a significant improvement in net loss, which narrowed to $6.9 million from a loss of $65 million in the prior year, reflecting a 90% reduction in losses. The basic and diluted net loss per share was $(0.03), compared to $(0.28) in the previous year.

In terms of operational metrics, Brookdale managed 568 senior living communities across 41 states as of March 31, 2026, with a total capacity to serve approximately 51,000 residents. The company reported a 5.5% increase in same community resident fee revenue per available unit (RevPAR), which rose to $5,580, driven by a 3.4% increase in revenue per occupied unit (RevPOR) and a 170 basis point increase in weighted average occupancy, now at 82.7%. The total number of communities decreased by 12.9% year-over-year, reflecting the company's ongoing strategy to divest non-strategic assets.

Brookdale's operational efficiency was highlighted by a reduction in facility operating expenses, which fell by 8.2% to $511.5 million, largely due to the same community dispositions. The company also reported a decrease in general and administrative expenses, which dropped to $45.1 million from $47.9 million, as it scaled costs in line with its community portfolio. Additionally, the company recognized $6.1 million in asset impairment charges, up from $1.8 million in the prior year, indicating ongoing challenges in asset valuations.

Looking ahead, Brookdale plans to continue its capital recycling program, with intentions to sell an additional 19 owned communities during 2026. The company has already completed the sale of three communities for $88 million in cash proceeds, enhancing its liquidity position. As of March 31, 2026, Brookdale reported total liquidity of $368.7 million, including $265.2 million in cash and cash equivalents. The company remains focused on improving its revenue per available unit and maintaining expense discipline while navigating the challenges posed by the senior living market and economic conditions.