Filing Flows › American Healthcare REIT (AHR) › Q3 2026
American Healthcare REIT (AHR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
American Healthcare REIT (AHR) reported revenue of $742M for the third quarter 2026 (Q3 2026), +30% from a year earlier and +10% from the quarter before. Operating margin was 22.2%, net earnings $31.2M (4.2% of revenue).
American Healthcare REIT, Q3 2026: revenue $742M (+30% year over year), operating margin 22.2%, net earnings $31.2M, operating cash flow $167M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $742M | +10% | +30% |
| Operating profit | $165M | +20% | +56% |
| Net earnings | $31.2M | +2% | -44% |
| Operating cash flow | $167M | +41% | +56% |
What changed
Revenue was $742.1M in Q3 2026, up 30% year over year and up 10% from the previous quarter. Integrated Senior Health Campuses was the largest line at 72% of revenue. SHOP added $90.3M year over year (up 118%), 53% of the total change. Outpatient Medical declined 2%.
Operating profit was $164.8M, a 22.2% margin (up 3.7 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 18% margin then. Total costs grew 24% against revenue growth of 30%. Net earnings were $31.2M, down 44% year over year. The effective tax rate was 2.3%.
Operating cash flow was $166.9M (up 56% year over year), 530% of net earnings. Non-cash charges added back $90.9M of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items added $35.2M.
Questions
What was American Healthcare REIT's revenue in the third quarter 2026?
American Healthcare REIT (AHR) reported revenue of $742M for the third quarter 2026 (Q3 2026), +30% from a year earlier and +10% from the quarter before.
Was American Healthcare REIT profitable in the third quarter 2026?
Operating profit was $165M (22.2% of revenue) and net earnings $31.2M.