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Sep 30, 2022
Pennant Group Q3 2022 Earnings Report
Pennant Group reported an increase in total revenue and net income compared to the prior year quarter.
Key Takeaways
The Pennant Group reported a revenue of $118.4 million, a 5.7% increase year-over-year. Net income for the quarter was $4.8 million. The company also completed the acquisition of Ardent Hospice and Palliative Care and Kenosha Visiting Nurse Association.
Total revenue increased by 5.7% year-over-year to $118.4 million.
Net income was $4.8 million.
Home Health and Hospice Services segment revenue increased by 8.6% year-over-year to $85.8 million.
Senior Living Services segment revenue decreased slightly by 1.1% year-over-year to $32.6 million.
Forward Guidance
Management anticipates 2022 annual guidance of total revenue between $458 million and $462 million, earnings per diluted share between $0.55 and $0.60, and adjusted EBITDA between $31.0 million and $33.5 million.
Positive Outlook
- Total revenue between $458 million and $462 million.
- Earnings per diluted share between $0.55 and $0.60.
- Adjusted EBITDA between $31.0 million and $33.5 million.
- Based on diluted weighted average shares outstanding of approximately 30.3 million
- Effective tax rate of 25.6%
Challenges Ahead
- Assumes anticipated reimbursement rate adjustments.
- Assumes no unannounced acquisitions.
- Assumes the lingering effects of COVID-19.
- Excludes the tax-effected costs at start-up operations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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