JAN Q2 Earnings Call Highlights

Key Points

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• Strong second-quarter results: Revenue roseate 45% twelvemonth implicit year, adjusted EBITDA accrued 34%, and adjusted FFO per stock grew 40%, supported by integrated maturation and astir $800 cardinal of first-half acquisitions.

• Operational momentum and assertive expansion: Same-store NOI climbed 19.2%, with occupancy and margins improving, portion Janus completed $1.8 cardinal of year-to-date acquisitions and expanded its operating-partner web from 2 to 10.

• Higher outlook and important liquidity: The institution raised 2026 adjusted FFO guidance to $0.95–$0.98 per stock and same-store adjusted NOI maturation guidance to 13%–17%; arsenic of Aug. 3, it had $558 cardinal successful cash, nary indebtedness and $1.2 cardinal of disposable liquidity.

JAN (NYSE:JAN) reported higher second-quarter revenue, adjusted EBITDA and funds from operations arsenic the elder lodging existent property concern spot benefited from integrated maturation and acquisitions completed during the archetypal fractional of 2026.

Janus Living said consolidated gross accrued 45% twelvemonth implicit twelvemonth successful the 2nd quarter, portion adjusted EBITDA roseate 34% and FFO arsenic adjusted per stock accrued 40%. Senior Vice President of Finance and Investor Relations Jonathan Hughes attributed the results to integrated maturation and the accretion from astir $800 cardinal of elder lodging acquisitions completed successful the archetypal and 2nd quarters.

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Chief Executive Officer Scott Brinker said the institution is pursuing a maturation strategy focused connected a 100% SHOP portfolio, nonstop relationships with operating partners and a debt-free equilibrium sheet. The institution has closed $1.8 cardinal of acquisitions twelvemonth to day and expects to astir treble the size of its portfolio during 2026, according to Brinker.

Same-store operations amusement occupancy and borderline gains

Same-store gross accrued 8.4% from a twelvemonth earlier and 60 ground points sequentially, driven successful portion by 260 ground points of year-over-year occupancy growth. Independent surviving occupancy accrued 350 ground points twelvemonth implicit year, Hughes said.

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Same-store occupancy accrued 10 ground points sequentially, portion gross per occupied room, oregon RevPOR, accrued 5.1% from a twelvemonth earlier. Same-store expenses roseate 4.8% twelvemonth implicit year, though expenses per occupied portion accrued 1.7%.

Same-store nett operating income accrued 19.2% twelvemonth implicit year, and NOI borderline expanded 250 ground points. Hughes said the institution expects further operating leverage arsenic occupancy grows, citing the standard of its beingness program communities and its independent-living concentration.