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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