Omega Healthcare Investors (OHI) Q3 2026 earnings summary

Executive summary

• Q3 adjusted FFO was $262.1M, or $0.82/share, and FAD was $249.7M, or $0.78/share; both increased YoY.

• FY 2026 adjusted FFO guidance rose to $3.28–$3.30/share, with a $3.29 midpoint; post-quarter investment activity brought 2026 investments to ~$1.5B.

• Portfolio changes included the 32-facility Florida transition to PACS and expansion of RIDEA senior housing operations.

Financial highlights

• Q3 revenue was $340.6M vs. $311.6M YoY; net income was $86.8M vs. $185.0M, with prior-year results including a $28.3M asset-sale gain.

• Q3 adjusted FFO was $262.1M, or $0.82/diluted share, vs. $242.8M, or $0.79; FAD was $249.7M vs. $231.2M.

• Q3 Nareit FFO was $191.5M vs. $241.8M; 9M Nareit FFO was $664.9M vs. $639.1M.

• Q3 resident fees and services contributed $30.8M of revenue; miscellaneous income included $10.9M of loan residual profit participation.

• Q3 acquisition, merger and transition costs were $59.9M, largely related to the U.K. care-home RIDEA conversion.

Outlook and guidance

• FY 2026 adjusted FFO guidance increased to $3.28–$3.30/share from $3.22–$3.26; midpoint rose $0.05 to $3.29.

• Guidance assumes $13.3M quarterly NewGen contractual rent, $6.9M monthly Maplewood rent, quarterly G&A of $14M–$15.5M and a $0.68/share dividend.

• Assumptions include $306M of Q4 loan repayments, including $150M from Genesis, and $15M–$25M of Q4 asset sales; acquisitions and capital-markets activity are excluded.

• Management expected further accretive investments through year-end and early 2027; guidance remains subject to collections, transaction timing, rates and FX.