Welltower (WELL) Q3 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 28, 2026 astatine 11:21 AM CDT 53 min read

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DATE

Tuesday, Oct. 28, 2025 astatine 9:00 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Shankh Mitra

• Chief Operating Officer — John Burkart

• Chief Investment Officer — Nikhil Chaudhri

• Chief Financial Officer — Tim McHugh

Full Conference Call Transcript

Shankh Mitra: Thank you, Matt, and bully morning, everyone. Given the sheer measurement of announcements past evening, we'll support our Q3 related comments concise, but I'm pleased to study that it was different grounds 4th with occupancy, margins and nett operating income, each exceeding our already precise precocious expectations. However, it was a watershed play successful our company's past from 2 important perspectives: superior allocation and people. After I locomotion you done our important superior allocation-related activities, the squad volition supply details of Q3 results. Then I'll instrumentality to sermon my favourite topics of people, culture, inducement plan and opening of a caller epoch of our firm, Welltower 3.0. Let's commencement with acknowledging luck.

Many of yesterday's transaction announcements started 6 months agone astatine the tallness of uncertainty station Liberation Day. We ever believed that beingness is not astir predicting. It is astir positioning. So erstwhile the luck knocked connected our doorway successful April and May, we are positioned with our equilibrium sheet, exceptional team, exertion level and possibly astir importantly, courageousness to tally towards this uncertainty and chaos. This positioning drove much than $23 cardinal successful incremental transactions, resulting successful year-to-date enactment implicit $33 cardinal and bringing america person to ever realizing our decade-long ambition of transforming Welltower into a pure-play rental lodging level for the rapidly aging population.

At the halfway of our offering volition ever beryllium systems, process, exertion and data-driven insights to heighten the acquisition of our customers and tract level employees, not capital, which is yet a commodity. Every superior allocation determination made astatine Welltower is viewed done an accidental outgo prism, evaluating the worth foregone by pursuing a circumstantial people of enactment portion considering each accusation of those decisions good into the future. And that accidental outgo prism let america to constrictive our absorption connected technology-driven translation of our niche lodging business. There is ever country successful organizations to boost show by amping up their gait and intensity.

And the fastest mode to determination the dial is to constrictive the absorption successful a maximum growth, maximum summation war. This is wherefore we're exiting our Outpatient Property Management business. While we'll proceed to ain immoderate outpatient aesculapian assets, it volition devour small absorption clip and effort owed to triple nett quality of the retained properties. This is not to accidental a B2B concern similar OM is not a bully business, but the strength that is needed to execute our audacious imagination of transforming a tech for TAM-rich B2C manufacture similar elder lodging requires the laser absorption of a hedgehog and the subject to accidental nary to hundreds of bully ideas.