Welltower Inc. (WELL) Q3 FY2026 earnings

Reported results

• GAAP net income attributable to common stockholders was $396,587 thousand, or $0.54 per diluted share for Q3 2026, compared to $280,559 thousand, or $0.41 per diluted share in Q3 2025
• Normalized FFO attributable to common stockholders (non-GAAP) was $1.67 per diluted share for Q3 2026, an increase of 24.6% over the prior year period
• Total portfolio year-over-year same store NOI (SSNOI) growth (non-GAAP) was 15.8% for the third quarter
• Seniors Housing Operating (SHO) portfolio organic same store revenue growth increased 9.1% year-over-year in Q3 2026
• GAAP total revenues reached $3,715,777 thousand for the quarter ended September 30, 2026
• Net Debt to Adjusted EBITDA (non-GAAP) was reported at 3.02x as of September 30, 2026

Guidance

• Full year 2026 net income attributable to common stockholders guidance is expected to be in the range of $3.31 to $3.37 per diluted share
• Full year 2026 normalized FFO attributable to common stockholders guidance is expected to be in the range of $6.47 to $6.53 per diluted share
• Full year 2026 average blended SSNOI growth is expected to be 15.0% to 16.25%
• Full year 2026 general and administrative expenses are anticipated to be approximately $267 million to $272 million, inclusive of stock-based compensation expense of approximately $60 million
• Pro rata disposition proceeds expected to be $1.9 billion at a blended yield of 6.5% in the next twelve months

Price and volatility reaction

The stock moved -5.8% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -4.1 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-26 (8-K, Item 2.02). Read the original filing on sec.gov.