Welltower earnings date and guidance
Welltower will release its next results on October 26, 2026. Watch whether acquisition closings and their financing become normalized FFO per share and cash.
What has Welltower guided for the year?
Management guides to normalized FFO of $6.36–$6.44 per diluted share. It also expects same-store net operating income, or NOI, to grow 13.8%–16.0%, led by 18.5%–21.5% growth in seniors housing operating properties. Same-store NOI compares the same properties across periods. Higher resident fees, occupancy and operating efficiency can raise it; buying another building cannot.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Normalized FFO per diluted share | Year to Dec 2026 | 6.36 | 6.44 | Jul 27, 2026 |
| Same Store NOI: average blended SSNOI growth | Year to Dec 2026 | 13.8% | 16.0% | Jul 27, 2026 |
| Seniors Housing Operating SSNOI growth | Year to Dec 2026 | 18.5% | 21.5% | Jul 27, 2026 |
| Investments (pro rata gross, US$ billions) | Year to Dec 2026 | 15.5 | 15.5 | Jul 27, 2026 |
Did Welltower keep its past promise?
Funds from operations, or FFO, adjusts accounting earnings mainly for property depreciation and gains or losses from property sales. Normalized FFO removes further items treated as unusual. It is an industry measure of property earnings, not cash paid to each shareholder. Welltower forecast annual normalized FFO per diluted share at US$4.79–US$4.95 in February 2025. It delivered US$5.29.
What is Welltower's recent revenue and profit trend?
FFO per share reached $1.56, against $1.24 a year earlier. Normalized FFO reached $1.60, against $1.28. First-half operating cash rose to 1,673,639, from 1,368,992, providing a separate check on the recovery. The specialist’s conclusion is therefore measured but positive: fuller buildings and better unit economics are improving the business, while acquisitions, accounting gains and capital demands determine how much of that improvement belongs to each shareholder.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,544,586 | 3,351,926 | 3,181,011 | 2,685,692 | 2,548,244 | 2,423,087 | 2,250,830 | 2,055,663 |
| Net operating income | 1,394,463 | 1,296,506 | 1,247,079 | 1,108,644 | 1,033,533 | 960,697 | 841,530 | 842,962 |
| FFO per share | 1.56 | 1.35 | -0.87 | 1.20 | 1.24 | 1.17 | 1.00 | 1.03 |
| AFFO per share (company's measure) | 1.60 | 1.47 | 1.45 | 1.34 | 1.28 | 1.20 | 1.13 | 1.11 |
What should I watch in Welltower's next results?
The next results should show whether transaction growth becomes normalized FFO per share and cash. Welltower will release third-quarter results on October 26, 2026, with its call the next day at 9 a.m. Eastern. Investors should look first at acquisition closings and their financing, then at occupancy and operating expenses. A larger portfolio can still leave each shareholder with less than expected.