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Mar 31, 2022
Pennant Group Q1 2022 Earnings Report
Pennant Group reported an increase in revenue and net income, driven by growth in both home health and senior living segments.
Key Takeaways
The Pennant Group, Inc. reported first quarter 2022 results with total revenue of $113.9 million, a 7.8% increase over the prior year quarter. GAAP diluted earnings per share were $0.03 and adjusted diluted earnings per share were $0.11. Net income for the quarter was $1.0 million.
Total revenue for the quarter was $113.9 million, up 7.8% year-over-year.
Net income for the first quarter was $1.0 million.
Home Health and Hospice Services segment revenue increased by 7.9% year-over-year to $80.5 million.
Senior Living Services segment revenue increased by 7.7% year-over-year to $33.4 million.
Forward Guidance
The company is affirming its full year 2022 guidance of annual revenue between $450 million and $460 million and adjusted earnings per diluted share of $0.60 to $0.72.
Positive Outlook
- Annual revenue between $450 million and $460 million.
- Adjusted earnings per diluted share of $0.60 to $0.72.
- Based on diluted weighted average shares outstanding of approximately 31.2 million.
- Effective tax rate of 26.1%.
- Anticipated reimbursement rate adjustments.
Challenges Ahead
- Assumes no unannounced acquisitions.
- Lingering effects of COVID-19.
- Excludes costs at start-up operations.
- Excludes share-based compensation.
- Excludes acquisition-related costs, assets held for sale, and losses of disposed operations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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