BKD - Why Brookdale Senior Living Stock Crushed the Market Today
Specialized healthcare company Brookdale Senior Living (NYSE: BKD) was quite the stock market star on Wednesday. Its share price popped by more than 10% on the day, following the release of its latest set of quarterly earnings. That double-digit rise was in vivid contrast to the 0.2% decline of the S&P 500 index.
For its fourth quarter of 2022, Brookdale earned nearly $700.6 million in revenue, which was 9% higher on a year-over-year basis. On the bottom line, the assisted-living healthcare company managed to narrow its net loss considerably; this came in at a bit more than $25.6 million ($0.13 per share), against fourth quarter 2021's $81.7 million deficit.
Both headline figures topped analyst estimates, with the net loss result doing so spectacularly. On average, prognosticators following Brookdale stock were modeling slightly under $696 million for revenue and a far deeper net loss of $0.41 per share.
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Why Brookdale Senior Living Stock Crushed the Market Today