Key Points – Strong Q2 growth: Revenue increased 59.4% to C$611 million and adjusted EBITDA rose 71% to C$68.3 million, driven by full-quarter contributions from CBI Home Health, Revera homes and Closing the Gap.
Management said all three acquisitions are outperforming their original EBITDA expectations. – CBI integration is the main priority: CBI contributed C$145.7 million of revenue and C$18.5 million of adjusted EBITDA, with integration expected to take 18–24 months and deliver C$7.4 million in annual cost synergies
Extendicare is unlikely to pursue significant additional acquisitions before late 2027. – Balance sheet improved while expansion continues: Refinancing reduced the weighted-average interest rate to 4.4%, extended debt maturities and brought pro forma leverage to approximately 2.5 times adjusted EBITDA. The company is also advancing six long-term-care redevelopment projects and expects to add 832 beds through four openings in 2027. Extendicare (TSE:EXE) reported sharply higher second-quarter revenue and adjusted EBITDA as its recently completed acquisitions contributed for a full quarter, while management said it remains focused on integrating CBI Home Health and advancing its Ontario long-term-care redevelopment program.
Revenue rose 59.4% from a year earlier to C$611 million in the second quarter, while adjusted EBITDA increased 71% to C$68.3 million. President and CEO Michael Guerriere said the results reflected execution of the company’s acquisition strategy over the past 18 months, including the C$570 million purchase of CBI, which closed April 1. The quarter also included contributions from nine long-term-care homes acquired from Revera in June 2025 and Closing the Gap, a home-health-care acquisition completed in July 2025.