LTC Properties (LTC) Q4 FY2023 earnings: revenue $50 million, up 4.9% on the year

LTC Properties Inc. (LTC) reported revenue of $50 million for Q4 FY2023, the quarter ended 31 December 2023, up 4.9% on the same quarter a year earlier. Net income was $28 million, up 57.4% on the year, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.

Revenue$50 millionup 4.9%

Net income$28 millionup 57.4%

Diluted EPS$0.67

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	50.2	49.3	n/a	n/a
Operating income	28.3	22.3	n/a	n/a
Operating margin	56.4%	45.1%	n/a
Interest expense	12.4	12.7	n/a	n/a
Income tax	0.0	0.0	n/a	n/a
Net income	28.2	22.2	n/a	n/a
Net margin	56.2%	45.0%	n/a
Diluted EPS	$0.67	$0.54	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	25.5	32.4	n/a	n/a
Capital expenditure	4.6	1.8	n/a	n/a
Free cash flow	20.8	30.6	n/a	n/a
Free cash flow margin	41.5%	62.0%	n/a
Cash from investing	19.3	-6.9	n/a	n/a
Cash from financing	-35.8	-21.3	n/a	n/a
Depreciation and amortisation	9.3	9.5	n/a	n/a
Share-based compensation	2.1	2.1	n/a	n/a
Dividends paid	24.0	23.6	n/a	n/a
Dividend per share	$0.57	$0.57	n/a	n/a
Diluted shares, weighted	n/a	41m	n/a	n/a
Shares outstanding at period end	43m	41m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	881	825	n/a	n/a
Non-controlling interest	35.0	35.0	n/a	n/a
Debt	891	956	n/a	n/a
Other liabilities	47.5	51.3	n/a	n/a
Total liabilities and equity	1,855	1,868	n/a	n/a
Intangible assets	13.1	n/a	n/a	n/a
Loans	60.5	n/a	n/a	n/a
Cash and equivalents	20.3	11.3	n/a	n/a
Other assets	1,761	1,857	n/a	n/a
Total assets	1,855	1,868	n/a	n/a

Questions

What was LTC Properties' revenue in Q4 FY2023?

LTC Properties (LTC) reported revenue of $50 million for Q4 FY2023, the quarter ended 31 December 2023, up 4.9% on the same quarter a year earlier.

How much did LTC Properties earn in Q4 FY2023?

Net income for Q4 FY2023 was $28 million, up 57.4% on the year, and diluted earnings per share $0.67.

When did LTC Properties report Q4 FY2023 results?

LTC Properties filed its 10-K for the quarter ended 31 December 2023 with the SEC on 15 February 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024 †	Q2 FY2024	Q3 FY2024 †	Q4 FY2024	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	49.3	50.2	51.4	50.1	55.8	52.6	49.0	60.2	69.3	84.3	95.4	98.9
Operating income	22.3	28.3	24.3	19.1	53.3	18.9	49.6	48.5	49.8	23.6	56.4	54.7
Operating margin	45%	56%	47%	38%	96%	36%	101%	80%	72%	28%	59%	55%
Interest expense	12.7	12.4	11.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	n/a	n/a	n/a	19.1	26.5	n/a	18.4	15.7	-18.2	23.6	24.8	23.3
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-1%	n/a	n/a	0%	1%
Net income	22.2	28.2	24.2	19.4	29.4	18.1	20.7	15.1	-20.0	102	23.6	29.6
Net margin	45%	56%	47%	39%	53%	34%	42%	25%	-29%	121%	25%	30%
Diluted EPS	$0.54	$0.67	$0.56	$0.44	$0.66	$0.39	$0.45	$0.32	-$0.44	$2.11	$0.48	$0.56
Operating cash flow	32.4	25.5	21.1	37.0	34.0	33.3	29.6	30.0	38.4	37.9	30.8	34.4
Capital expenditure	1.8	4.6	1.3	2.3	6.3	3.8	1.3	1.2	4.2	0.6	2.7	3.8
Free cash flow	30.6	20.8	19.7	34.7	27.7	29.5	28.2	28.9	34.3	37.3	28.1	30.6
Dividends paid	23.6	24.0	24.6	24.8	25.3	25.8	27.3	26.3	26.5	27.4	29.2	29.8
Shares outstanding	41m	43m	43m	43m	45m	46m	46m	46m	47m	48m	50m	54m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 15 February 2024, accession 0001558370-24-001256: the filing on EDGAR. All of LTC Properties Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install