Welltower Reports Strong Q3 Results, Raises Earnings Guidance

Welltower Inc. announced impressive third-quarter earnings, exceeding analyst expectations and raising its fiscal year outlook. This positive performance is expected to positively impact its stock price.

Date: 28-10-2024

AI Rating: 8

The report highlights Welltower Inc.'s impressive financial performance in the third quarter. Several key indicators show a strong upward trend:

Earnings Per Share (EPS): Welltower reported an earnings per share of $0.73, significantly higher than last year's $0.24. This represents a positive growth trend.
Revenue Growth: The company achieved revenues of $2.055 billion, an increase from $1.662 billion in the previous year, indicating strong growth.
Net Income: The earnings totaled $449.8 million compared to $127.5 million last year, showcasing a substantial increase in net income.
Normalized FFO: Normalized funds from operations (FFO) rose to $688.1 million or $1.11 per share, up from $485.5 million or $0.92 per share in the previous year.
Revised Earnings Guidance: The company revised its earnings guidance for fiscal year 2024, now expecting between $1.75 to $1.81 per diluted share, an increase from the previous range.
Normalized FFO Guidance: Welltower also raised its full-year normalized FFO guidance, now anticipating $4.27 to $4.33 per diluted share, up from the earlier estimate of $4.13 to $4.21 per diluted share.

This positive financial performance and proactive guidance adjustments could lead to increased investor confidence and potentially boost the company's stock price.

Stocks: WELL