Q1 26 EPS
$1.47
BEAT +194.00%
Est. $0.50
Q1 26 Revenue
$3.35B
BEAT +4.83%
Est. $3.20B
vs S&P Since Q1 26
+4.2%
BEATING MARKET
WELL +12.8% vs S&P +8.7%
Market Reaction
Did WELL Beat Earnings? Q1 2026 Results
Welltower delivered a standout first quarter for 2026, with normalized FFO of $1.47 per diluted share beating the consensus estimate of $0.50 by 194.00% and revenue of $3.35 billion coming in 4.83% ahead of the $3.20 billion expected, representing 40… Read more Welltower delivered a standout first quarter for 2026, with normalized FFO of $1.47 per diluted share beating the consensus estimate of $0.50 by 194.00% and revenue of $3.35 billion coming in 4.83% ahead of the $3.20 billion expected, representing 40.3% growth year-over-year. The primary engine behind the results was the Seniors Housing Operating segment, which posted 22.1% same-store NOI growth as occupancy climbed 370 basis points year-over-year to 89.0%, reflecting sustained demand across the company's senior housing portfolio. GAAP net income attributable to common stockholders reached $728.67 million, boosted in part by $420.40 million in net gains on real estate dispositions tied to significant capital recycling activity, including $3.30 billion of gross investments and $2.80 billion of dispositions during the quarter. Management raised its full-year 2026 normalized FFO guidance to $6.21 to $6.35 per diluted share, up from the prior range of $6.09 to $6.25, signaling continued confidence in senior housing fundamentals and the company's expanding investment pipeline.
Key Takeaways
- • SHO same store NOI growth of 22.1% year-over-year driven by 370 bps average occupancy growth and 5.0% RevPOR growth
- • Total portfolio SSNOI growth of 16.4%
- • SHO same store occupancy reached 89.0%, up from 85.3% year-over-year
- • SHO same store NOI margin improved to 30.9% from 27.7% year-over-year
- • Net gains on real estate dispositions of $420.4 million
WELL YoY Financials
Q1 2026 vs Q1 2025, 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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.65 | $1.60 | +146.15% | $3.54B | +4.66% |
| 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% |