10-K · February 24, 2026
LTC Properties, Inc. reported a substantial annual revenue increase to $262.9 million for 2025, bolstered by strong contributions from its new SHOP segment and despite challenges in its traditional triple-net lease…
Earnings analysis · 10-Q
LTC earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
LTC Properties, Inc. reported strong Q1 2026 results with revenues of $95.4 million, significantly exceeding estimates of $80.8 million, while diluted EPS was $0.69 against an estimate of $0.72. The company showcased…
Read full summary
LTC Properties, Inc. reported strong Q1 2026 results with revenues of $95.4 million, significantly exceeding estimates of $80.8 million, while diluted EPS was $0.69 against an estimate of $0.72. The company showcased resilience in its SHOP segment, which contributed robust revenues despite a slight decrease in overall EPS year-over-year. Management reaffirms its confidence in its financial outlook for 2026, despite some operational challenges in the industry.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.69
- Segment
- SHOP
What stood out
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Revenue Surpasses Expectations
Q1 2026 revenue reached $95.4 million, beating estimates of $80.8 million, marking a 26.1% increase compared to the previous quarter.
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EPS Meets Analysts' Projections
Diluted EPS stood at $0.69, a slight miss against the expected $0.72, yet showed a significant improvement from $0.45 in 2025 Q1.
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Strength in SHOP Segment
The SHOP segment generated $49.6 million in fees, demonstrating effective strategy execution in a competitive environment.
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Increase in Operating Cash Flow
Operating cash flow for the period was $30.8 million, up from $29.6 million y-o-y, reflecting strong operational management.
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Reduction in Interest Expense
Interest expense rose to $10.8 million but was offset by higher revenues from the SHOP segment, indicating effective financial management.
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Solid Liquidity Position
LTC reported cash reserves of $21.7 million and available credit of $317 million, ensuring adequate liquidity for operational needs.
What to watch
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Operational Headwinds
Increased operational expenses of $36.9 million were noted, mainly attributed to the establishment of the SHOP segment, potentially affecting margins.
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Dependence on Third-Party Operators
Management highlighted continued reliance on third-party operators, posing risks to revenue stability amid market fluctuations.
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Regulatory Risks in Health Care
The health care industry remains subject to regulatory changes that may impact reimbursement rates and overall profitability.
Management's outlook
Management reaffirms full-year guidance for EPS in the range of $1.80 to $1.84, reflecting confidence in operational strategies.
Earlier filings 4
10-Q · November 4, 2025
LTC Properties (LTC) reported significant revenue growth of 32.7% year-over-year, reaching $69.3 million in Q3 2025, while dilutive EPS also surged to $0.69 from $0.66 a year prior. Despite achieving operational…
10-Q · August 4, 2025
LTC Properties reported substantial revenue growth in Q2 2025, achieving $60.24 million, a 34% increase from the prior quarter. However, the diluted EPS of $0.51 fell short of estimates by 51%, primarily due to the…
10-Q · May 5, 2025
LTC Properties reported Q1 2025 results with a revenue of $41M, showing a decline from $77M in Q4 2024, and a diluted EPS of $0.45, down from $0.39 in the previous quarter. Although rental income from leases remains…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.