Last $20.74 USD
Change Today +0.08 / 0.39%
Volume 309.1K
CSU On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 09/29/14 All times are local (Market data is delayed by at least 15 minutes).

capital senior living corp (CSU) Key Developments

Capital Senior Living Corp. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Capital Senior Living Corp. reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $93.4 million compared to revenue of $87.2 million in the second quarter of 2013. Income from operations was $3.149 million against $2.963 million a year ago. Loss before provision for income taxes was $9.629 million against $2.680 million a year ago. Net loss was $9.819 million against $2.070 million a year ago. Diluted net loss per share was $0.34 against $0.07 a year ago. Adjusted EBITDAR was $32.159 million against $30.080 million a year ago. Adjusted net income was $0.017 million against $1.057 million a year ago. Adjusted net income per share was $0.00 against $0.04 a year ago. Capital expenditures were approximately $4.7 million, representing $3.6 million of investment spending and $1.1 million of recurring capital expenditures. If annualized, spending for recurring capital expenditures was approximately $380 per unit. For the six months, the company reported total revenues of $185.282 million against $173.444 million a year ago. Income from operations was $5.764 million against $5.726 million a year ago. Loss before provision for income taxes was $14.086 million against $5.481 million a year ago. Net loss was $14.466 million against $4.146 million a year ago. Diluted net loss per share was $0.50 against $0.15 a year ago. Net cash provided by operating activities was $15.240 million against $14.484 million a year ago. Capital expenditures were $7.887 million against $5.142 million a year ago. Adjusted EBITDAR was $62.918 million against $60.530 million a year ago. Adjusted net income was $0.218 million against $2.904 million a year ago. Adjusted net income per share was $0.01 against $0.10 a year ago.

Capital Senior Living Mulls Acquisitions

Capital Senior Living Corp. (NYSE:CSU) is looking for acquisitions. Chief Executive Officer, Larry Cohen said, “We are conducting due diligence on additional acquisitions of high-quality senior living communities in states with existing operations, and subject to customary closing conditions, expect to close an acquisition of approximately $13.5 million by the end of the third quarter. With this additional acquisition, we will have acquired seven communities for a combined purchase price of $145.6 million through the first three quarters of the year. These 2014 acquisitions are expected to generate greater than a 17% cash-on-cash return.”

Capital Senior Living Corp. to Report Q2, 2014 Results on Aug 05, 2014

Capital Senior Living Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Aug 05, 2014

Capital Senior Living Corp., Q2 2014 Earnings Call, Aug 05, 2014

Capital Senior Living Corp., Q2 2014 Earnings Call, Aug 05, 2014

Capital Senior Living Corporation Acquires Three Communities for $83.6 Million; Closes Refinance of Debt

Capital Senior Living Corporation announced that the company has purchased three senior living communities located in Ohio from joint ventures in which it held a 10% interest (the Ohio JV Communities) for a purchase price of $83.6 million. The company announced it has closed a refinance of debt on 15 owned communities, raising approximately $156.5 million of new mortgage debt consisting of $135.5 million in long-term fixed rate debt and approximately $21 million in bridge loans. The $135.5 million long-term debt has a 4.24% fixed interest rate, which represents a 172 basis point reduction in rate, and matures in July 2024. These new mortgages replaced $92 million of fixed rate debt with a blended interest rate of 5.96% that were set to mature in July 2015. The $21 million in bridge loans replaced approximately $20 million of fixed-rate debt that was also maturing in July 2015. The bridge loans are related to one property being repositioned to allow more flexibility during the repositioning and certain non-core owned assets planned for sale in the third quarter of 2014. The bridge loans have a one or two-year maturity with a variable interest rate of approximately 4.65%. With this refinancing, the company's overall debt on this portfolio increases approximately $44.6 million; however, the company's interest expense remains approximately the same due to the lower rate and the company's total debt service payment decreases approximately $1.0 million due to re-setting the principal amortization to 30 years from 25 years.

 

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Price/Earnings NM Not Meaningful
Price/Sales 1.6x
Price/Book 4.0x
Price/Cash Flow 38.7x
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