Omega Healthcare Q1 FFO Rises, Beats View; Lifts Full-year Outlook

(RTTNews) - Omega Healthcare Investors Inc. (OHI) on Tuesday said first-quarter funds from operations, or FFO, available to common stockholders increased to $84.4 million or $0.68 per share from $70.1 million or $0.62 per share in the same period last year.

Adjusted FFO for the quarter was $88.8 million or $0.71 per share, compared to $71.7 million or $0.63 per share in the prior-year period. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

Net income increased to $55.8 million or $0.45 per share from $38.1 million or $0.34 per share in the same period last year.

Operating revenues for the quarter were $121.0 million, up from $101.8 million last year. Analysts expected revenues of $104.74 million.

Looking ahead to fiscal year 2014, the company now projects adjusted FFO in a range of $2.74 to $2.77 per share, up from the prior range of $2.69 to $2.72 per share. Analysts currently expect full-year earnings of $2.75 per share.