National Health Investors (NHI) Misses Q4 EPS by 9c, Revenues Miss; Offers FY19 EPS Guidance Below Consensus

National Health Investors (NYSE: NHI) reported Q4 EPS of $0.87, $0.09 worse than the analyst estimate of $0.96. Revenue for the quarter came in at $74 million versus the consensus estimate of $75.21 million.

• Announced or completed $205.4 million in real estate and note investments in the fourth quarter; $364.3 million for the year
• Maintained low leverage balance sheet at 4.5x net debt-to-annualized adjusted EBITDA
• Ample liquidity with $466 million available to draw on revolving credit facility
• Fixed charge coverage remains conservative at 6.0x
• Portfolio lease coverage remains strong at 1.64x
• GAAP net income of $.87 per diluted common share for the fourth quarter; $3.67 for the year
• Normalized FFO per diluted common share up 3.2% for the year
• Normalized AFFO per diluted common share up 5.0% over fourth quarter 2017; up 6.1% for the year

GUIDANCE:

National Health Investors sees FY2019 EPS of $3.66-$3.74, versus the consensus of $3.88.

The Company currently expects net income to be in the range of $3.66 to $3.74 per diluted common share, Normalized FFO for 2019 to be in the range of $5.43 to $5.53 per diluted common share and Normalized AFFO to be in the range of $5.04 to $5.10 per diluted common share.

For earnings history and earnings-related data on National Health Investors (NHI) click here.

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