National Health Investors Inc. (NYSE:NHI) Q2 2020 Earnings Conference Call - Final Transcript

Aug 11, 2020 • 12:00 pm ET


National Health Investors Inc. (NYSE:NHI) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the National Health Investors Second Quarter 2020 Earnings Call. [Operator Instructions]. Afterwards, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded, Tuesday, August 11, 2020.

I would now like to turn the conference over to Dana Hambly. Please, go ahead.

Dana Hambly

Thank you, and welcome, everyone to the National Health Investors conference call to review the Company's results for the second quarter of 2020. On the call with me today are Eric Mendelsohn, President and CEO; Kevin Pascoe, Chief Investment Officer; and John Spaid, Executive Vice President and Chief Financial Officer. We're also joined today by Donald Thompson, who's the Founder and CEO of Senior Living Communities.

The results as well as the notice of the accessibility of this conference call, on a listen-only basis, over the internet, were released yesterday after market close in a press release that's been covered by the financial media.

As a reminder, any statements in this conference call, which are not historical facts are forward-looking statements. NHI cautions investors that any forward-looking statements may involve risks or uncertainties and are not guarantees of future performance. All forward-looking statements represent NHI's judgment as of the date of this conference call. Investors are urged to carefully review various disclosures made by NHI and its periodic reports filed with the Securities and Exchange Commission, including the risk factors and other information disclosed in NHI's Form 10-Q for the quarter ended June 30, 2020. Copies of these filings are available on the SEC's website at or NHI's website at

In addition, certain terms used in this call are non-GAAP financial measures, reconciliations of which are provided in NHI's earnings release and related tables and schedules, which have been filed on Form 8-K with the SEC. Listeners are encouraged to review these reconciliations provided in the earnings release together with all other information provided in that release.

I'll now turn the call over to Eric Mendelsohn.

Eric Mendelsohn

Thank you, Dana. Hello, everyone, and thanks for joining us today. First and foremost, we want to express our gratitude and admiration to all of our operating partners and their frontline heroes that go to great lengths to keep our senior population safe in what is inarguably the worst crisis this industry has ever experienced. While too often overlooked and unfairly criticized in the media, the work they do is inspirational to all of us at NHI, and we cannot thank them enough.

I said on our last conference call that reputations are made during a crisis and that, when history reflects back on this time, there will be operators that are hailed as heroes. Now that we are another three months into this pandemic, I still feel the same way. Our operating partners weathered the initial onslaught of the pandemic, which introduced significant obstacles, including difficulties in sourcing PPE and addressing erratic staffing and regulatory issues, not to mention the negative media coverage. While certainly not back to normal, our operators