CareTrust REIT, Inc. (NYSE:CTRE) Q3 2022 Earnings Conference Call November 9, 2022 1:00 PM ET

Company Participants

Lauren Beale - Senior Vice President and Controller

Dave Sedgwick - President and Chief Executive Officer

Mark Lamb - Chief Investment Officer

James Callister - Executive Vice President

Conference Call Participants

Jonathan Hughes - Raymond James

Juan Sanabria - BMO Capital Markets

Dave Rodgers - Baird

Michael Carroll - RBC Capital Markets

Steven Valiquette - Barclays

Austin Wurschmidt - KeyBanc Capital Markets

Tayo Okusanya - Credit Suisse

Operator

Good afternoon and welcome to CareTrust REIT’s Third Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the call over to Lauren Beale, CareTrust’s Senior Vice President and Controller. Please go ahead, Ms. Beale.

Lauren Beale

Thank you and welcome to CareTrust REIT’s third quarter 2022 earnings call. Participants should be aware that this call is being recorded and listeners are advised that any forward-looking statements made on today’s call are based on management’s current expectations, assumptions and beliefs about CareTrust’s business and the environment in which it operates. These statements may include projections regarding future financial performance, dividends, acquisitions, investments, returns, financings and other matters and may or may not reference other matters affecting the company’s business or the businesses of its tenants, including factors that are beyond their control, such as natural disasters, pandemics such as COVID-19 and governmental actions.

The company’s statements today and its business generally are subject to risks and uncertainties that could cause actual results to materially differ from those expressed or implied herein. Listeners should not place undue reliance on forward-looking statements and are encouraged to review CareTrust’s SEC filings for a more complete discussion of factors that could impact results as well as any financial or other statistical information required by SEC Regulation G. Except as required by law, CareTrust REIT and its affiliates do not undertake to publicly update or revise any forward-looking statements where changes arise as a result of new information, future events, changing circumstances or for any other reason.

During the call, the company will reference non-GAAP metrics such as EBITDA, FFO and F-A-D or FAD and normalized EBITDA, FFO and FAD. When viewed together with GAAP results, the company believes these measures can provide a more complete understanding of its business, but cautions that they should not be relied upon to the exclusion of GAAP reports. Yesterday, CareTrust filed its Form 10-Q and accompanying press release and its quarterly financial supplement, each of which can be accessed on the Investor Relations section of CareTrust’s website at www.caretrustreit.com. A replay of this call will also be available on the website for a limited period.