Emeritus Q2 Loss Widens; Backs FY13 Adj. CFFO EPS Outlook

(RTTNews) - Emeritus Corp. (ESC), a provider of senior living services, reported that its second-quarter net loss attributable to common shareholders was $35.96 million or $0.77 per share, wider than $21.72 million or $0.49 per share in the comparable quarter last year.

Cash from facility operations or CFFO for the quarter was $18.8 million, or $0.40 per share, compared to $18.5 million or $0.41 per share last year.

Cash from facility operations or CFFO, as adjusted, increased to $25.4 million, or $0.54 per share, compared to $21.2 million, or $0.48 per share, in the second quarter of 2012.

Meanwhile, total operating revenues increased to $475.93 million from $374.80 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.48 per share on revenues of $477.38 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the full-year 2013, the company continues to expect CFFO, as adjusted, to be in the range of $2.10 to $2.20 per share. Community and management fee revenue is expected to be in the range of $1.85 billion to $1.90 billion.

Analysts expect the company to report a loss of $1.97 per share on revenues of $1.92 billion for fiscal 2013.