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Omega Healthcare Investors

Omega Healthcare Investors (OHI) Q2 2026 Earnings

Reported Jul 29, 2026 at 4:17 PM ET · SEC Source

Q2 26 EPS

$1.19

BEAT +147.92%

Est. $0.48

Q2 26 Revenue

$328.2M

BEAT +19.86%

Est. $273.9M

vs S&P Since Q2 26

-15.5%

TRAILING MARKET

OHI -11.4% vs S&P +4.2%

Market Reaction

Did OHI Beat Earnings? Q2 2026 Results

Omega Healthcare Investors delivered a blowout second quarter for fiscal 2026, extending its streak of beating Wall Street estimates to five consecutive quarters as earnings and revenue both cleared consensus by wide margins. The skilled nursing REIT… Read more Omega Healthcare Investors delivered a blowout second quarter for fiscal 2026, extending its streak of beating Wall Street estimates to five consecutive quarters as earnings and revenue both cleared consensus by wide margins. The skilled nursing REIT posted EPS of $1.19, well above the $0.48 consensus estimate, a beat of 147.92%, while revenue of $328.25 million topped the $273.86 million estimate by 19.86% and climbed 16.2% from the year-ago period. The primary engine behind the headline numbers was a $246.52 million gain on asset dispositions, anchored by the strategic sale of 18 CommuniCare facilities in Maryland and West Virginia for gross proceeds of $479.90 million. Beneath the one-time items, core performance also strengthened, with AFFO per diluted share rising to $0.83 from $0.77 a year earlier. Reflecting continued confidence in the portfolio, Omega raised its full-year 2026 AFFO guidance to $3.22 to $3.26 per diluted share and lifted its quarterly dividend to $0.68 per share, a move that has drawn fresh institutional buying interest in recent months.

Key Takeaways

  • • FAD per share increased 5.4% year-over-year to $0.78
  • • AFFO per share grew to $0.83 from $0.77 in Q2 2025
  • • NOI increased to $331 million from $281 million year-over-year
  • • Gain on asset sales of $246.5 million from sale of 26 facilities
  • • Trailing 12-month EBITDAR coverage improved to 1.65x from 1.55x year-over-year
  • • Operator occupancy stable at 82.6%
  • • Active portfolio management replacing weaker operators (Ciena 0.87x coverage) with stronger ones (above 1.65x mean)

OHI Forward Guidance & Outlook

Omega raised its full-year 2026 Adjusted FFO guidance to $3.22 to $3.26 per diluted share, up from the prior range of $3.19 to $3.25. The guidance assumes Genesis continues paying full contractual rent of $13.3 million per quarter, Maplewood pays rent at $19.6 million per quarter, quarterly G&A expense of approximately $14 million to $15.5 million, quarterly dividends of $0.68 per share, $56 million in mortgage-to-fee-simple conversions, $148 million in Genesis loans repaid in Q4 2026, and asset sales of approximately $15 million to $25 million per quarter. The CEO noted expectations for a significant increase in capital deployment through the remainder of 2026 and into early 2027 based on the current pipeline.

24/7 Wall St

OHI YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

OHI Revenue by Segment

Business unit performance breakdown

“We are pleased to report strong second quarter results, with FAD per share up 6.3% over the same quarter last year. This reflects our continued accretive investment activity, augmented by active portfolio management. As a result, we were again able to increase our AFFO guidance, moving the midpoint up by two cents to $3.24.”

— Taylor Pickett, Q2 2026 Earnings Press Release

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