OHI earnings analysis
What we found in OHI's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Omega Healthcare Investors, Inc. reported a robust Q1 2026 with significant growth in both revenue and EPS, outperforming consensus expectations. Revenue totaled $322.96 million, representing a 16.7% increase year-over-year while diluted EPS rose to $0.82, beating estimates by 6.5%. Management has also raised its Adjusted FFO guidance for the year, indicating a strong operational outlook despite challenges in the sector.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Year-over-Year
- Q1 2026 revenue increased to $322.96 million, up 16.7% from $276.79 million in Q1 2025.
- EPS Beat Consensus Estimates
- Diluted EPS for Q1 2026 was $0.82, exceeding the consensus estimate of $0.77 by 6.5%.
- Adjusted FFO Guidance Raised
- Management raised the full-year Adjusted FFO midpoint from $3.20 to $3.22.
- Strong Operating Cash Flow
- Operating cash flow increased 18.4% to $215.5 million from $181.95 million year-over-year.
- Decrease in Total Liabilities
- Total liabilities decreased to $4.78 billion, down from $4.61 billion at the end of 2025.
- Cash Position Remains Strong
- Cash and cash equivalents totaled $26.15 million as of March 31, 2026, slightly down from $27.02 million at the end of 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Continued Operator Bankruptcy Issues
- Genesis Healthcare, under Chapter 11 bankruptcy, poses risks to rent collection and operational stability.
- High Dependency on Fewer Operators
- 20 operators are on a cash basis for rental revenue recognition, representing 21.8% of revenues, indicating potential income volatility.
- Increased Debt Levels
- Revolving credit facility has increased to $425 million from $242 million, raising concern about leverage.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.82
- Gross margin
- 100%
- Operating margin
- 56.9%
What they said about what is next.
Management increased full-year Adjusted FFO guidance to $3.22 per share.
The filing reads better than the one before it.
What came before.
- 10-Q · October 31, 2025
- Omega reported Q3 total revenues of $311.6M, up 12.9% from $276.0M a year ago, driven by higher rental income and interest income. Diluted EPS rose to $0.59 from $0.42 in Q3 2024 (an increase of $0.17, ~40.5%), and…
- 10-Q · August 2, 2024
- Omega reported stronger Q2 operating results with net income of $117,079,000 and diluted EPS of $0.45 (Q2 2023: $61,521,000 and $0.25), driven by higher interest income and a $14.2M recovery for credit losses. Operating…
- 10-Q · May 3, 2024
- Omega Healthcare reported Q1 2024 total revenues of $243,299,000 (up from $218,202,000 a year ago, +$25,097,000 or +11.5%) and diluted EPS of $0.27 versus $0.15 in Q1 2023. Operating cash flow strengthened to…
- 10-K · February 12, 2024
- Omega Healthcare (OHI) reported total revenues of $949,740,000 in 2023, up from $878,244,000 in 2022, driven by higher rental income. The company maintains a large, diversified portfolio of 891 healthcare facilities…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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