Earnings Releases·Nov 2, 2026, 4:08 PM ET

Janus Living — Third Quarter 2026 Earnings Summary

Consolidated revenues surged 78% year-over-year to $268 million, while Adjusted EBITDAre more than doubled to $105 million; diluted FFO as Adjusted per share rose 46% to $0.25, and same-store adjusted NOI increased 25.9% with margins expanding 360 basis points.
The company raised full-year 2026 guidance across all key metrics: diluted EPS to $0.27–$0.37, FFO as Adjusted per share to $0.97–$0.99, and same-store adjusted NOI growth to 16%–19%, citing Q3 and October acquisitions as the driver for the EPS adjustment.
Aggressive capital deployment continued with $1.75 billion in senior housing acquisitions during Q3 and $2.9 billion year-to-date as of October 30, 2026, including $82 million in pending transactions expected to close in Q4.
Financial strength was bolstered by a follow-on equity offering generating $513 million and an upsized unsecured revolving credit facility to $1.25 billion, resulting in $1.2 billion total liquidity and a balance sheet with no outstanding debt.
The Board declared a quarterly dividend of $0.0475 per share (annualized $0.57), and management confirmed a target of low-6% year 1 cash NOI yields with 7.5%–8.5% yields upon stabilization for new acquisitions.