Brookdale Senior Living Cuts 2026 Outlook as Occupancy Growth Slows

Brookdale Senior Living Inc. cut its 2026 financial outlook after occupancy growth slowed late in the third quarter, lowering forecasts for Adjusted EBITDA and RevPAR growth despite year-over-year gains in quarterly profitability and occupancy.

Brookdale reset its 2026 Adjusted EBITDA projection to $495 million-$502 million, versus the prior $502 million-$516 million range. It also reduced its forecast for RevPAR growth to 7.4% to 7.9%, from 8% to 9%.

Brookdale cited slower occupancy growth, increased marketing investment and expected revenue and expense effects from a recent fire at its vacant, 97-unit community in Clinton, Mississippi. CEO Nick Stengle said, “we fell short of our RevPAR goal due to slower occupancy growth, particularly late in the quarter.”

For the quarter ended Sept. 30, revenue was $712.068 million, compared with $813.165 million a year earlier. The net loss attributable to common stockholders narrowed to $13.906 million from $114.726 million. Diluted loss per share was $0.06, compared with $0.48.

Adjusted EBITDA, a non-GAAP measure, increased 12% year over year to $124.3 million. Consolidated RevPAR rose 7.5%, while weighted-average occupancy reached 83.1%, up 130 basis points. RevPAR measures average monthly resident-fee revenue per available unit.

Brookdale operated 529 communities in 41 states as of Sept. 30.