Brookdale Senior Living backs FY17 adjusted EBITDA view of $670M-$710M
Based on results year-to-date, the company reiterates its FY17 guidance for Adjusted EBITDA, excluding transaction and strategic project costs, to be in the range of $670M-$710M. The company's previously-issued guidance for FY17 Adjusted Free Cash Flow of $140M-$170M excluded the potential impact of any refinancing and debt modification costs and costs associated with its ongoing evaluation of options and alternatives to create and enhance stockholder value, which remains appropriate guidance. Based on such costs incurred to date and projected for the remainder of 2017, the company expects those costs to be approximately $30M. Accordingly, the company expects Adjusted Free Cash Flow for 2017 to be in the range of $110M-$140M including such costs.