SNDA - Sonida Senior Living drops 37% over ability to continue operating
2023-03-30 14:18:31 ET
- Sonida Senior Living ( NYSE: SNDA ) plummeted 37% in Thursday afternoon trading after the company warned in its quarterly earnings release earlier in the day that "there is substantial doubt about our ability to continue as a concern."
- The senior living operator blamed the situation on the continuing impact of COVID-19 and upcoming debt maturities.
- The company also said it has taken measure to maximize its liquidity over the next year to meet obligations.
- But Sonida ( SNDA ) cautioned that may not "be able to obtain the capital necessary to meet the Company's short and long-term capital requirements.
- Sonida ( SNDA ) missed on the bottom line in its Q4 2022 results.
- In the quarter, the company saw its loss widen to ~$17.7M from ~$13M in the year-ago period (-$2.79 per share basic and diluted vs. -$2.39).
- Sonida ( SNDA ) ended 2022 with cash and cash equivalents of ~$16.9M, a ~79% decline from the end of 2021.
- Seeking Alpha's Quant Rating has viewed Sonida ( SNDA ) as a hold since Feb. 21.
For further details see:
Sonida Senior Living drops 37% over ability to continue operating