CareTrust REIT (CTRE) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and CareTrust REIT published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. CareTrust REIT reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Normalized FFO per share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• CareTrust REIT is a REIT. Revenue here is the "Total revenues" line of its consolidated income statement (rental income, resident fees and services, and interest income), and EPS is net income per diluted share attributable to CareTrust REIT, Inc. Its headline earnings measure is Normalized FFO per share, shown in the adjusted row. CareTrust reports in thousands; figures here are in millions.
• The Senior Housing Operating (SHOP) line has no year-ago figure because CareTrust began using the RIDEA structure for operated senior housing in the fourth quarter of 2025.

Source: CareTrust REIT Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How CareTrust REIT splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• CareTrust REIT's Skilled Nursing Triple-net revenue was $85.3 million in Q3 2026, up 17% from $73.0 million in Q3 2025, 48% of total revenue.
• CareTrust REIT's Senior Housing Triple-net revenue was $42.0 million in Q3 2026, up 34% from $31.3 million in Q3 2025, 24% of total revenue.
• CareTrust REIT's Senior Housing Operating revenue was $7.2 million in Q3 2026, 4% of total revenue.
• CareTrust REIT's Financing Receivables revenue was $14.0 million in Q3 2026, up 382% from $2.9 million in Q3 2025, 8% of total revenue.
• CareTrust REIT's Interest Income revenue was $27.9 million in Q3 2026, up 10% from $25.3 million in Q3 2025, 16% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, CareTrust REIT said:

“The Company increased its 2026 guidance midpoints, raising the low end of its Normalized FFO and Normalized FAD estimates, and now projects net income attributable to CareTrust of approximately $1.50 to $1.51 per share, Normalized FFO of approximately $2.08 to $2.09 per share, and Normalized FAD of approximately $2.04 to $2.05 per share.”

“Mr. Bunker noted that full year 2026 guidance is based on a weighted average diluted share count of 240 million shares, and assumes the following:”

“No new investments, loans, or dispositions beyond those made or announced year-to-date;”

Source: CareTrust REIT Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CTRE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS attributable to CareTrust REIT, Inc., each as first reported in that quarter's release, in millions.

We do not hold a confirmed date for CareTrust REIT's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

CareTrust REIT's total revenues were $176.4 million in Q3 2026, against $132.4 million a year earlier, a 33% rise. Rental income was $127.2 million of that. The rest was resident fees and services of $7.2 million from operated senior housing, interest income from financing receivables of $14.0 million, and $27.9 million of interest income from other real estate related investments and other income. (CareTrust REIT Q3 2026 release, Nov 5, 2026)

By portfolio type, CareTrust's skilled nursing triple-net properties brought in $85.3 million (up 17%) and senior housing triple-net $42.0 million (up 34%). Financing receivables income rose 382% to $14.0 million. On an annualized basis skilled nursing triple-net is 48% of revenue, senior housing triple-net 24% and interest income 16%. (CareTrust REIT Q3 2026 financial supplement, Nov 5, 2026)

CareTrust leases healthcare properties to operators under triple-net leases, in which the tenant pays property taxes, insurance, maintenance and capital expenditures. Since the fourth quarter of 2025 it also owns some senior housing communities under the RIDEA structure, run by third party managers for a fee, which gives it direct exposure to their operations. That SHOP line is why resident fees and services appear this year and not last. (CareTrust REIT Form 10-K, 2025, Feb 12, 2026; CareTrust REIT Form 10-Q, Q3 2026, Nov 5, 2026)

Ensign was CareTrust's largest operator at 14% of total revenue in Q3 2026, down from 17% a year earlier. By geography, California was 23% and the U.K. 18% of revenue in the quarter. In the supplement's rent diversification table the top ten operators account for 64% of annualized in-place rent. (CareTrust REIT Form 10-Q, Q3 2026, Nov 5, 2026; CareTrust REIT Q3 2026 financial supplement, Nov 5, 2026)

Revenue growth followed investment. CareTrust closed $739.5 million of investments in Q3 2026 at a blended stabilized yield of 8.3%, and on October 1, 2026 acquired 23 newly built U.K. care homes from LNT Care Developments for £552 million ($733 million), with 22 more expected through 2027. (CareTrust REIT Q3 2026 release, Nov 5, 2026)

CareTrust REIT's GAAP diluted EPS was $0.35 in Q3 2026, the same as a year earlier, while Normalized FFO per share rose to $0.54 from $0.45. FFO adds back real estate depreciation and amortization ($33.1 million in the quarter). Normalized FFO also excludes items CareTrust treats as non-routine, chiefly $8.9 million of non-routine transaction costs and a $7.3 million unrealized loss on other real estate related investments. (CareTrust REIT Q3 2026 release, Nov 5, 2026)

CareTrust funds growth by issuing stock, which is why per-share GAAP earnings stayed flat while net income attributable to CareTrust rose to $83.7 million from $74.9 million. Diluted weighted-average shares were 241,088 thousand, against 212,271 thousand a year earlier. In the quarter CareTrust received $578.2 million of gross proceeds from settling its May 2026 forward equity offering and $280.5 million from shares issued under its ATM Program. (CareTrust REIT Q3 2026 release, Nov 5, 2026)

CareTrust also reports Normalized FAD, which strips out non-cash items such as straight-line rent. Normalized FAD was $127.0 million, or $0.53 per share, against $0.44 a year earlier. The quarterly dividend of $0.39 per share was about 74% of Normalized FAD. (CareTrust REIT Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

CareTrust REIT gives full-year guidance in its release and updates it each quarter. With Q3 2026 results it raised the low end of its ranges and now projects 2026 net income of about $1.50 to $1.51 per share, Normalized FFO of about $2.08 to $2.09 per share and Normalized FAD of about $2.04 to $2.05 per share, based on 240 million weighted average diluted shares. (CareTrust REIT Q3 2026 release, Nov 5, 2026)

The guidance assumes no new investments, loans or dispositions beyond those made or announced year-to-date, no new debt or equity issuance, 2.5% inflation-based rent escalators, $147 million of loans repaid during the year and no material change in the GBP:USD exchange rate. CFO Derek Bunker said the midpoints represent increases of 18.5% for Normalized FFO and 16.2% for Normalized FAD over 2025 results. (CareTrust REIT Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover CareTrust REIT, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones CareTrust REIT's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CTRE is on is CTRE a buy or a sell?, what analysts expect next is on the CTRE forecast, and what the company does is on the CareTrust REIT (CTRE) stock page.

Every number on this page can be traced to a document CareTrust REIT published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.