The following is a summary of the Extendicare Inc. (EXETF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 revenue increased by 11.3% to $359.1 million, primarily fueled by LTC funding increases and growth in home healthcare volumes.

• Adjusted EBITDA for Q3 rose by 73.8% year-over-year, driven by higher revenues across all segments.

• Long-term care and home healthcare segments showed improved profitability with NOI for long-term care up significantly due to government funding and higher occupancy rates.

Business Progress:

• Extendicare has begun construction on new homes, with six in progress in Ontario and plans to start more before the end of the year.

• Significant strides in home healthcare with a 10.2% year-over-year increase in average daily volume.

• Initiated a significant restructuring of capital via a new $275 million senior secured credit facility and the early redemption of convertible debentures.

Opportunities:

• Continued demographic shift towards an aging population presents ongoing expansion opportunities for both long-term and home healthcare services.

• The initiation of new construction projects under favorable funding conditions suggests potential for growth in capacity and service coverage.

Risks:

• The projects' dependency on government funding and subsidies presents risks related to policy changes or funding adjustments.

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