Omega (OHI) Q4 2025 Earnings Call Transcript

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DATE

Feb. 5, 2026 astatine 10:00 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Taylor Pickett

• President — Matthew Gourmand

• Chief Financial Officer — Robert O. Stephenson

• Chief Investment Officer — Vikas Gupta

• Senior Vice President, Data Intelligence and Government Relations — Megan Krull

Full Conference Call Transcript

Operator: Thank you for lasting by. My sanction is Dan, and I volition beryllium your league relation today. At this time, I would similar to invited everyone to the Omega Healthcare Investors Inc. Fourth Quarter Earnings Conference Call. [Operator Instructions] I would present similar to crook the telephone implicit to Michele Reber, delight spell ahead.

Michele Reber: Thank you, and bully morning. With maine contiguous is Omega's CEO, Taylor Pickett; President, Matthew Gourmand; CFO, Bob Stephenson; CIO, Vikas Gupta; and Megan Krull, Senior Vice President, Data Intelligence and Government Relations. Comments made during this league telephone that are not humanities facts whitethorn beryllium forward-looking statements, specified arsenic statements regarding our fiscal projections, imaginable transactions, relation prospects and outlook generally. Factors that could origin existent results to disagree materially from those successful the forward-looking statements are elaborate successful the company's filings with the SEC. During the telephone today, we volition notation to immoderate non-GAAP fiscal measures, specified arsenic NAREIT FFO, adjusted FFO, FAD and EBITDA.

Reconciliations of these non-GAAP measures to the astir comparable measurement nether mostly accepted accounting principles are disposable successful the quarterly supplement. In addition, definite relation sum and fiscal accusation that we discussed is based connected information provided by our operators that has not been independently verified by Omega. I volition present crook the telephone implicit to Taylor.

C. Pickett: Thanks, Michele. Good morning, and convey you for joining our 4th fourth 2025 net league call. Today, I volition sermon our 4th fourth fiscal results and definite cardinal operating trends. Fourth 4th adjusted funds from operations, AFFO, of $0.80 per stock and FAD, funds disposable for organisation of $0.76 per stock reflects beardown gross and EBITDA growth, principally fueled by acquisitions and progressive portfolio management. Our dividend payout ratio has dropped to 84% for AFFO and 88% for FAD. 2025 was a large twelvemonth for our team. Full twelvemonth AFFO and FAD maturation exceeded 8% year-over-year, driven successful portion by $1.1 cardinal successful superior deployment.

In addition, the recognition prime of our operators continued to amended arsenic a effect of progressive portfolio absorption and the wide betterment successful manufacture fundamentals. During the 4th quarter, we closed 2 RIDEA transactions totaling $80 million. We importantly expanded our Sabra relationship, and we committed superior successful Canada, each of this portion delevering and strengthening the equilibrium sheet. Our momentum from 2025 should transportation america guardant for different beardown twelvemonth successful 2026. We volition proceed to actively negociate and heighten the recognition prime of our operating relationships. We volition proceed to deploy meaningful superior crossed each of our geographies and spot types, including our caller RIDEA platform.