Companies /Real Estate
Welltower Inc
NYSE: WELL Reit - Healthcare Facilities
$225.47
▲ $2.43 (+1.09%) today
Markets closed · 8:14pm ET

Welltower (WELL) Q2 2026 Earnings

Reported Jul 27, 2026, 4:06pm ET · SEC source
$1.60
Beat +146.15%
EPS · est. $0.65
$3.5B
Beat +4.66%
Revenue · est. $3.4B
−5.7%
Trailing market
WELL vs S&P since report
2 quarters
Consecutive EPS beats

How Did WELL Stock React to Q2 2026 Earnings?

% change · around the report
−3%0+3%+6%Jul 27Jul 28report 4:06pm ETearnings+0.3%−1.9%
−3%0+3%+6%Jul 27Jul 28earnings+0.3%−1.9%
WELL −1.9%S&P 500 +0.3%
−3%0+3%+6%Jul 27Jul 28report 4:06pm ETearnings−0.8%−1.9%
−3%0+3%+6%Jul 27Jul 28earnings−0.8%−1.9%
WELL −1.9%NASDAQ −0.8%
−10%−5%0+5%Jul 27Aug 4report 4:06pm ETearnings+4.4%−10.9%
−10%−5%0+5%Jul 27Aug 4earnings+4.4%−10.9%
WELL −10.9%S&P 500 +4.4%
−12%−6%0+6%Jul 27Aug 4report 4:06pm ETearnings+5.9%−10.9%
−12%−6%0+6%Jul 27Aug 4earnings+5.9%−10.9%
WELL −10.9%NASDAQ +5.9%
−1.92%
Day of report
−1.02%
Next session
−4.93%
One week
−1.63%
30 days

S&P 500 over the same 30 days: +4.08%.

Did WELL Beat Earnings? Q2 2026 Results

Yes. Welltower reported Q2 2026 earnings of $1.60 a share on Jul 27, 2026, beating the $0.65 consensus estimate by 146.2%. Revenue was $3.5B against a $3.4B estimate.

Welltower delivered a standout second quarter for 2026, posting normalized FFO of $1.60 per diluted share against a consensus estimate of $0.65, a beat of 146.15% that reflected the sweeping scale of the company's recent expansion. Revenue reached $3.54 billion, up 40.9% year-over-year and ahead of the $3.39 billion analysts had expected, with the Seniors Housing Operating segment serving as the primary engine, generating $3.00 billion in consolidated SHO revenues alone. The April 1 closing of the Amica Senior Lifestyles acquisition, encompassing 38 Canadian senior housing communities at a pro rata purchase price of C$4.10 billion, was the single largest contributor to that revenue surge, compounding organic momentum that included 20.5% SHO same-store NOI growth and average occupancy climbing to 89.4% from 86.1% a year ago. With institutional ownership near 95% and analyst sentiment broadly constructive, investor confidence appears well-anchored. Management raised full-year 2026 normalized FFO guidance to $6.36-$6.44 per diluted share and lifted the quarterly dividend 15% to $0.85 per share.

Key Takeaways
  • SHO same store NOI growth of 20.5% year-over-year
  • 330 basis points of average occupancy growth in SHO portfolio
  • 5.2% growth in Revenue Per Occupied Room (RevPOR)
  • SHO same store occupancy reached 89.4%, up from 86.1% a year ago
  • Total portfolio SSNOI growth of 15.5%
  • 93.0% private pay revenue mix in Seniors Housing Operating
  • Seniors Housing Triple-net SSNOI growth of 5.2%
  • Long-Term/Post-Acute Care SSNOI growth of 2.9%
  • Outpatient Medical SSNOI growth of 2.4%
  • U.S. SHO SS RevPOR YoY growth of 5.3%, U.K. 3.9%, Canada 6.1%

What Is Welltower's Outlook?

Welltower raised its full-year 2026 normalized FFO guidance to $6.36–$6.44 per diluted share from the prior range of $6.21–$6.35. GAAP net income guidance was revised to $3.11–$3.19 per diluted share from $3.24–$3.38. Blended SSNOI growth is expected at 13.75%–16.00%, with SHO approximately 18.5%–21.5%, Seniors Housing Triple-net approximately 3.5%–4.5%, Outpatient Medical approximately 2.0%–3.0%, and Long-Term/Post-Acute Care approximately 2.0%–3.0%. G&A expenses are anticipated at approximately $265–$270 million with stock-based compensation of approximately $60 million. Pro rata disposition proceeds of $1.1 billion are expected at a blended yield of 6.8% over the next twelve months. Guidance includes only announced or closed acquisitions and no additional capital transactions.

WELL YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$1.0B$2.0B$3.0B$2.5B$3.5BRevenue$443.3M$320.4MOperating Income$301.9M$463.0MNet Income
$0$1.0B$2.0B$3.0BRevenueOperating IncomeNet Income
WELL income statement, Q2 2026 versus Q2 2025
Metric Q2 2026 Q2 2025 Year over year
Revenue $3.5B $2.5B +40.9%
Operating Income $320.4M $443.3M −27.7%
Net Income $463.0M $301.9M +53.4%

WELL Revenue by Segment

Seniors Housing Operating$3.0B+9.2%
Outpatient Medical$51.4M−76.1%
Long-Term/Post-Acute Care$216.7M+31.1%
Seniors Housing Triple-net$197.1M+88.2%

WELL Revenue by Geography

United States$3.3B+10.7%
United Kingdom$1.2B+241.0%
Canada$444.2M+73.8%

When Does Welltower Report Next?

Expected report date
After the close
Release timing

Figures from SEC filings and company reports. Not investment advice.