National Health Investors, Inc. (NYSE:NHI) Q2 2024 Earnings Conference Call August 7, 2024 11:00 AM ET

Company Participants

Dana Hambly - Director of IR
Eric Mendelsohn - President and CEO
Kevin Pascoe - Chief Investment Officer
John Spaid - Chief Financial Officer

Conference Call Participants

Robin Haneland - BMO Capital Markets
Rich Anderson - Wedbush
John Kilichowski - Wells Fargo
Austin Wurschmidt - KeyBanc Capital Markets

Operator

Good morning, everyone, and welcome to the National Health Investors Second Quarter 2024 Earnings Webcast and Conference Call. At this time, all participants have been placed on a listen-only mode, and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Dana Hambly. Sir, the floor is yours.

Dana Hambly

Thank you, and welcome to the National Health Investors Conference Call to review the results for the second quarter of 2024. On the call today are Eric Mendelsohn, President and CEO, Kevin Pascoe, Chief Investment Officer, John Spaid, Chief Financial Officer, and David Travis, Chief Accounting Officer. The results, as well as notice of the accessibility of this conference call, were released after the market closed yesterday in a press release that's been covered by the financial media.

Any statements in this conference call which are not historical facts are forward-looking statements. NHI cautions investors that any forward-looking statements may involve risks or uncertainties and are not guarantees of future performance. All forward-looking statements represent NHI's judgment as of the date of this conference call.

Investors are urged to carefully review various disclosures made by NHI and its periodic reports filed with the Securities and Exchange Commission, including the risk factors and other information disclosed in NHI's Form 10-K for the year ended December 31, 2023, and Form 10-Q for the quarter ended June 30, 2024. Copies of these filings are available on the SEC's website at sec.gov or on NHI's website at nhireit.com.

In addition, certain terms used in this call are non-GAAP financial measures, reconciliations of which are provided in NHI's earnings release and related tables and schedules which have been furnished on Form 8-K to the SEC. Listeners are encouraged to review those reconciliations provided in the earnings release together with all other information provided in that release. I'll now turn the call over to our CEO, Eric Mendelsohn.

Eric Mendelsohn

Thank you, Dana. Hello, and thanks to everyone for joining us today. The second quarter exceeded our forecast and represents the fourth straight quarter of out-performance relative to our expectations. The drivers of the strong performance have been consistent as we once again had stable cash collections, steady deferral repayments, improving operator fundamentals, shop occupancy and revenue growth, and no unexpected rent concessions.