Omega Healthcare Investors (OHI) Q2 2025 Earnings
How Did OHI Stock React to Q2 2025 Earnings?
S&P 500 over the same 30 days: +3.54%.
Did OHI Beat Earnings? Q2 2025 Results
Yes. Omega Healthcare Investors reported Q2 2025 earnings of $0.46 a share on Jul 31, 2025, beating the $0.41 consensus estimate by 12.1%. Revenue was $282.5M against a $243.3M estimate.
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.
- 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
“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.”
Omega Healthcare Investors CEO, on the earnings call
What Was Omega Healthcare Investors's Outlook in Q2 2025?
Omega increased its full-year 2025 AFFO guidance to $3.04–$3.07 per diluted share, up from the prior range of $2.95–$3.01 per share. The revised guidance incorporates $605 million in new real property and loan investments completed year-to-date through June 2025. Key assumptions include quarterly G&A expense of approximately $13.5–$14.5 million, repayment of $600 million of 5.250% senior notes due January 2026 on October 15, 2025, repayment of a $251.6 million GBP-denominated secured mortgage loan on November 25, 2025, no material changes in market interest rates, Genesis and Avardis continuing to pay full contractual obligations, Maplewood continuing to pay rent at $6.1 million per month, approximately $50 million in asset sales, and no additional acquisitions. The guidance excludes additional acquisitions, certain revenue/expense items, interest refinancing expenses, acquisition costs, capital markets activity, and additional provisions for credit losses.
OHI YoY Financials
| Metric | Q2 2025 | Q2 2024 | Year over year |
|---|---|---|---|
| Revenue | $282.5M | $252.7M | +11.8% |
| Net Income | $140.5M | $113.9M | +23.4% |
| Operating Income | $147.2M | $166.8M | −11.8% |
OHI Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.