Chartwell Retirement Residences (CSH-UN) Q4 2025 earnings summary

Executive summary

• Achieved record financial and operating performance in 2025, surpassing all strategic targets for resident satisfaction, employee engagement, and occupancy, with same-property occupancy reaching up to 95.2% in December 2025.

• Integrated several new properties, expanded into new markets, and completed over $1.7 billion in acquisitions, focusing on high-quality residences.

• Launched innovative marketing and sales initiatives, including an AI-powered chatbot.

• Increased monthly distributions by 2%, effective March 31, 2026.

Financial highlights

• Q4 2025 net income was $7.2 million, up from $3.5 million in Q4 2024; full-year net income was $29.5 million, up from $22.4 million in 2024.

• Q4 2025 FFO grew 40.9% year-over-year to $81.2 million ($0.26/unit); full-year FFO rose 40.8% to $278 million ($0.95/unit).

• Annual revenue for 2025 was $1.1 billion, up 34.9% year-over-year.

• Same-property adjusted NOI increased 18.4% for the year; Q4 adjusted NOI was $75.8 million, up 16.9% year-over-year.

• Weighted average same-property occupancy rose 480 bps to 92.8% for 2025 and reached up to 95.2% in December.

Outlook and guidance

• Strategic plan targets weighted average occupancy above 95%, revenue per occupied suite growth above 4%, and cost control.

• Plans to execute approximately $2 billion of acquisitions and developments, funded in part by $1 billion of dispositions through 2028.

• Margin expansion expected to move from low 40% to mid-40% range as rates outpace operating expenses.

• Rent growth guidance set at above 4%, with market rents expected to grow by high single digits over the next three years.

• Market imbalance and robust industry fundamentals expected to drive higher occupancy and rent growth.