Filing Flows › American Healthcare REIT (AHR) › Q2 2026
American Healthcare REIT (AHR) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
American Healthcare REIT (AHR) reported revenue of $674M for the second quarter 2026 (Q2 2026), +24% from a year earlier and +4% from the quarter before. Operating margin was 20.4%, net earnings $31.0M (4.6% of revenue).
American Healthcare REIT, Q2 2026: revenue $674M (+24% year over year), operating margin 20.4%, net earnings $31.0M, operating cash flow $119M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $674M | +4% | +24% |
| Operating profit | $137M | +9% | +33% |
| Net earnings | $31.0M | +29% | +207% |
| Operating cash flow | $119M | +46% | +66% |
What changed
Revenue was $674.2M in Q2 2026, up 24% year over year and up 4% from the previous quarter. Integrated Senior Health Campuses was the largest line at 76% of revenue. Integrated Senior Health Campuses added $83.5M year over year (up 19%), 63% of the total change. Outpatient Medical declined 4%.
Operating profit was $137.2M, a 20.4% margin (up 1.3 points year over year). Of the extra revenue versus Q2 2025, 26% reached operating profit, above the 19% margin then. Total costs grew 22% against revenue growth of 24%. Net earnings were $30.6M, up 209% year over year. The effective tax rate was 0.0%.
Operating cash flow was $118.6M (up 66% year over year), 383% of net earnings. Non-cash charges added back $72.1M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items added $9.7M.
Questions
What was American Healthcare REIT's revenue in the second quarter 2026?
American Healthcare REIT (AHR) reported revenue of $674M for the second quarter 2026 (Q2 2026), +24% from a year earlier and +4% from the quarter before.
Was American Healthcare REIT profitable in the second quarter 2026?
Operating profit was $137M (20.4% of revenue) and net earnings $31.0M.