Loading...
•
Dec 31, 2022
Pennant Group Q4 2022 Earnings Report
Pennant Group reported an increase in revenue and net income for Q4 2022, driven by growth in both home health and hospice services and senior living segments.
Key Takeaways
Pennant Group reported Q4 2022 results with a revenue of $124.7 million, a net income of $3.5 million, and adjusted diluted earnings per share of $0.18. The company's performance was driven by growth in both its Home Health and Hospice Services and Senior Living Services segments.
Total revenue increased by 11.5% compared to the prior year quarter, reaching $124.7 million.
Net income increased by $5.6 million over the prior year quarter, reaching $3.5 million.
Adjusted EBITDA increased by 98.3% over the prior year quarter, reaching $9.9 million.
Home Health and Hospice Services segment revenue increased by 16.4%, reaching $90.7 million.
Forward Guidance
Pennant Group provided full year 2023 guidance with annual revenue between $503.5 million and $518.4 million, adjusted EBITDA of $38.4 million to $42.6 million, and adjusted earnings per diluted share of $0.66 to $0.76.
Positive Outlook
- Annual revenue between $503.5 million and $518.4 million.
- Adjusted EBITDA of $38.4 million to $42.6 million.
- Adjusted earnings per diluted share of $0.66 to $0.76.
- Midpoint of $0.71 represents 24.6% growth on 2022 adjusted earnings.
- Based on diluted weighted average shares outstanding of approximately 30.7 million and a 25.5% effective tax rate.
Challenges Ahead
- Guidance assumes, among other things, organic growth in current operations.
- Guidance assumes margin expansion.
- Guidance assumes anticipated reimbursement rate adjustments.
- Guidance assumes elevated interest rates.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...