WELL Q1 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Welltower posted a strong first quarter for 2025, with net income of $0.40 per diluted share, nearly double the $0.22 reported a year earlier, while revenue reached $2.42 billion, a remarkable 32.4% year-over-year surge, even as it came in just fract… Read more Welltower posted a strong first quarter for 2025, with net income of $0.40 per diluted share, nearly double the $0.22 reported a year earlier, while revenue reached $2.42 billion, a remarkable 32.4% year-over-year surge, even as it came in just fractionally below the $2.43 billion consensus estimate. The real headline was normalized FFO, which climbed 18.8% year-over-year to $1.20 per diluted share, powered chiefly by the Seniors Housing Operating portfolio, where same-store NOI surged 21.7% on the back of 400 basis points of occupancy improvement and 5.9% RevPOR growth. The company deployed $2.80 billion in gross investments during the quarter, including a transformative $4.60 billion agreement to acquire 38 ultra-luxury seniors housing communities from Amica Senior Lifestyles in Canada. Balance sheet strength was notable as well, with net debt to Adjusted EBITDA tightening to 3.33x from 4.03x, prompting credit upgrades from both S&P and Moody's. Management raised full-year normalized FFO guidance to $4.90–$5.04 per share, reflecting confidence that reliable dividend growth and operational momentum will continue through year-end.