The following is a summary of the Extendicare Inc. (EXETF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Extendicare reported Q2 2024 consolidated revenue increased by 13.3% to $348.5 million.

• NOI increased by $24.3 million with a margin of 15.2%.

• Adjusted EBITDA for Q2 increased by $23.8 million.

Business Progress:

• Extendicare's Managed Services and Home Health Care segments showed substantial growth, contributing to over 56% of the consolidated NOI.

• Current projects include the construction of new homes and the redevelopment of existing ones, alongside partnership with Axium for capital recycling and service enhancements.

• Significant technology investments and strategic JV enabled scalable growth and optimized capital deployment.

Opportunities:

• The pending rate increases for long-term care in the Western provinces and Home Health Care in Ontario represent significant opportunities for financial improvement.

• The demographic trends and post-pandemic recovery create a robust demand environment.

Risks:

• Seasonal softness in operations expected to return due to vacations and closure of school-based home care programs showing potential revenue fluctuations.

More details: EXTENDICARE INC CDA IR

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