Extendicare Q2 revenue jumps 59% on acquisitions, CBI integration in focus

EarningsM&A · Partnership
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Summary · why it matters

Extendicare reported second-quarter revenue rose 59.4% to C$611 million and adjusted EBITDA climbed 71% to C$68.3 million, driven by full-quarter contributions from CBI Home Health, Revera homes, and Closing the Gap. Management said all three acquisitions are outperforming their original EBITDA expectations, with CBI alone contributing C$145.7 million of revenue and C$18.5 million of adjusted EBITDA. The company is prioritizing CBI integration over the next 18 to 24 months, targeting C$7.4 million in annual cost synergies, and does not expect significant additional acquisitions before late 2027. Extendicare also refinanced debt, reducing its weighted-average interest rate to 4.4% and bringing pro forma leverage to approximately 2.5 times adjusted EBITDA, while advancing six long-term-care redevelopment projects that will add 832 beds through four openings in 2027.

Impact on stocks 2

Aging Population▲ · 1 stocks
Extendicare Inc.
0S9E
▲ PositiveCapitalrelevance

Q2 revenue and EBITDA surged on acquisitions, with all three outperforming expectations.

Energy Transition & Power Demand▲ · 1 stocks

Theme Impact 1

Off-coverage companies 3

CBI Home HealthPrivate▲ Positive
Demandrelevance

CBI Home Health contributed strong revenue and EBITDA, outperforming expectations.

Closing the Gap Healthcare Group Inc.Private▲ Positive
Demandrelevance

Closing the Gap contributed to revenue growth and outperformed EBITDA expectations.

Revera Inc.Private▲ Positive
Demandrelevance

Revera homes contributed to revenue growth and outperformed EBITDA expectations.

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