Omega Healthcare Investors, Inc. (NYSE:OHI) Q2 2022 Results Conference Call August 2, 2022 10:00 AM ET

Company Participants

Michele Reber - Senior Director, Asset Management

Taylor Pickett - Chief Executive Officer

Dan Booth - Chief Operating Officer

Bob Stephenson - Chief Financial Officer

Megan Krull - Senior Vice President, Operations

Conference Call Participants

Connor Siversky - Berenberg

Jonathan Hughes - Raymond James

Dave Rodgers - Baird

Michael Griffin - Citi

Daniel Bernstein - Capital One

Nick Yulico - Scotiabank

Tayo Okusanya - Credit Suisse

Rich Anderson - SMBC

Steven Valiquette - Barclays

Vikram Malhotra - Mizuho

Joshua Dennerlein - Bank of America

Operator

Good morning, and welcome to the Omega Healthcare Investors Second Quarter 2022 Earnings Call. [Operator Instructions] Please note this is being recorded.

I would now like to turn the conference over to Michele Reber. Please go ahead.

Michele Reber

Thank you, and good morning. With me today are Omega's CEO, Taylor Pickett; COO, Dan Booth; CFO, Bob Stephenson; and Megan Krull, Senior Vice President of Operations.

Comments made during this conference call that are not historical facts may be forward-looking statements such as statements regarding our financial projections, dividend policy, portfolio restructurings, rent payments, financial condition or prospects of our operators, contemplated acquisitions, dispositions or transitions and our business and portfolio outlook generally.

These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially. Please see our press releases and our filings with the Securities and Exchange Commission, including, without limitation, our most recent report on Form 10-K which identify specific factors that may cause actual results or events to differ materially from those described in forward-looking statements.

During the call today, we will refer to some non-GAAP financial measures, such as NAREIT FFO, adjusted FFO, FAD and EBITDA. Reconciliations of these non-GAAP measures to the most comparable measure under generally accepted accounting principles as well as an explanation of the usefulness of the non-GAAP measures are available under the Financial Information section of our website at www.omegahealthcare.com, and, in the case of NAREIT FFO and adjusted FFO, in our recently issued press release. In addition, certain operator coverage and financial information that we discuss is based on data provided by our operators that has not been independently verified by Omega.

I will now turn the call over to Taylor.

Taylor Pickett

Thanks, Michele. Good morning, and thank you for joining our second quarter 2022 earnings conference call. Today, I will discuss our second quarter financial results, skilled nursing facility industry trends and operator restructurings. Our first quarter adjusted FFO is $0.76 per share and funds available for distribution are $0.71 per share. We have maintained our quarterly dividend of $0.67 per share. Dividend payout ratio is 88% of adjusted FFO, and 94% of funds available for distribution.