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Jun 30, 2022
Pennant Group Q2 2022 Earnings Report
Reported GAAP diluted loss per share and adjusted diluted earnings per share, with total revenue increasing and operational momentum in both segments.
Key Takeaways
The Pennant Group reported a GAAP diluted loss per share of $0.09 and adjusted diluted earnings per share of $0.14 for Q2 2022. Total revenue increased by 5.4% year-over-year to $116.3 million. The company reaffirmed its 2022 annual revenue guidance of $450 million to $460 million.
Total revenue for the quarter was $116.3 million, up 5.4% year-over-year.
Net loss for the second quarter was $2.7 million, with adjusted EBITDA at $7.6 million.
Home Health and Hospice Services revenue was $85.3 million, a 9.3% increase year-over-year.
Senior Living Services revenue was $31.0 million, a 3.9% decrease year-over-year.
Forward Guidance
Management reaffirms its 2022 annual guidance of total revenue between $450 million and $460 million. Full year 2022 adjusted earnings per diluted share is anticipated to be between $0.60 and $0.68 and full year 2022 adjusted EBITDA is anticipated to be between $33.2 million and $35.7 million.
Positive Outlook
- Annual revenue between $450 million and $460 million.
- Adjusted earnings per diluted share is anticipated to be between $0.60 and $0.68.
- Adjusted EBITDA is anticipated to be between $33.2 million and $35.7 million.
- Guidance assumes anticipated reimbursement rate adjustments.
- Guidance assumes no unannounced acquisitions.
Challenges Ahead
- Guidance assumes the lingering effects of COVID-19.
- Guidance excludes the tax-effected costs at start-up operations.
- Guidance excludes share-based compensation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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