Q2 25 EPS
$0.45
MISS 0.16%
Est. $0.45
Q2 25 Revenue
$2.55B
BEAT +2.49%
Est. $2.49B
vs S&P Since Q2 25
+18.7%
BEATING MARKET
WELL +34.9% vs S&P +16.1%
Market Reaction
Did WELL Beat Earnings? Q2 2025 Results
Welltower delivered a standout second quarter for 2025, with total revenue climbing 42.1% year-over-year to $2.55 billion, beating the $2.49 billion consensus estimate by 2.49%, as the healthcare REIT's Seniors Housing Operating portfolio emerged as … Read more Welltower delivered a standout second quarter for 2025, with total revenue climbing 42.1% year-over-year to $2.55 billion, beating the $2.49 billion consensus estimate by 2.49%, as the healthcare REIT's Seniors Housing Operating portfolio emerged as the clear engine of growth. The SHO segment posted 23.4% same-store NOI growth, driven by 420 basis points of year-over-year occupancy improvement and 4.9% RevPOR growth that meaningfully widened margins, with shares having gained over 43% in the past year reflecting sustained investor confidence in the platform. Normalized FFO reached $1.28 per diluted share, up 21.9% year-over-year, while net income attributable to common stockholders came in at $0.45 per diluted share. The company's balance sheet also strengthened materially, with net debt to adjusted EBITDA tightening to 2.93x from 3.68x a year ago. Management raised full-year 2025 normalized FFO guidance to $5.06–$5.14 per diluted share and lifted the quarterly dividend 10.4% to $0.74 per share, signaling confidence in durable cash flow growth ahead, a profile that has attracted attention among dividend-paying growth stocks.
Key Takeaways
- • SHO portfolio SSNOI growth of 23.4% driven by 420 bps occupancy improvement and 4.9% RevPOR growth
- • RevPOR growth meaningfully outpacing ExpPOR growth, expanding SSNOI margin by 330 bps
- • Total portfolio SSNOI growth of 13.8%
- • Active capital deployment with $9.2 billion pro rata investment activity year-to-date
- • Net Debt to Adjusted EBITDA improved to 2.93x from 3.68x year-over-year
WELL YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
WELL Revenue by Segment
With YoY comparisons, source: SEC Filings
WELL Revenue by Geography
With YoY comparisons, source: SEC Filings
WELL Earnings Trends
WELL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WELL EPS Trend
Earnings per share: estimate vs actual
WELL Revenue Trend
Quarterly revenue: estimate vs actual
WELL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.50 | $1.47 | +194.00% | $3.35B | +4.83% |
| Q4 25 MISS FY | $0.59 | $0.14 | -76.27% | $3.18B | +6.35% |
| FY Full Year | — | $1.39 | — | $10.84B | — |
| Q3 25 MISS | $0.52 | $0.41 | -21.15% | $2.69B | -0.66% |
| Q2 25 MISS | $0.45 | $0.45 | -0.16% | $2.55B | +2.49% |
| Q1 25 BEAT | $0.38 | $0.40 | +5.26% | $2.42B | -0.09% |