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Dec 31, 2024
Pennant Group Q4 2024 Earnings Report
Pennant Group reported strong fourth quarter and fiscal year 2024 results, with significant increases in revenue, net income, and adjusted earnings per share, driven by strategic acquisitions and organic growth.
Key Takeaways
The Pennant Group, Inc. announced robust operating results for the fourth quarter and fiscal year ended December 31, 2024. Total revenue for the fourth quarter increased by 29.4% to $188.9 million, and diluted GAAP earnings per share were $0.16. Adjusted diluted earnings per share for the quarter stood at $0.24, reflecting strong operational performance and strategic expansion.
Total revenue for the fourth quarter increased by 29.4% year-over-year to $188.9 million.
GAAP diluted earnings per share for the fourth quarter were $0.16, with adjusted diluted earnings per share at $0.24.
Net income for the fourth quarter rose by 32.4% to $5.8 million, and adjusted net income increased by 28.0% to $8.5 million.
Home Health and Hospice Services segment revenue grew by 32.9% to $142.0 million in the fourth quarter, driven by a 40.9% increase in total home health admissions.
Revenue by Segment
Forward Guidance
Management anticipates total revenue for 2025 to be between $800.0 million and $865.0 million, with adjusted earnings per diluted share projected to be between $1.03 and $1.11, and adjusted EBITDA between $63.1 million and $68.2 million.
Positive Outlook
- Anticipated 13.8% growth in adjusted earnings per share at the midpoint compared to 2024.
- Projected 46.6% growth in adjusted earnings per share at the midpoint compared to 2023 results.
- Compelling momentum across both home health/hospice and senior living segments.
- Strong capability of local leaders to drive both organic and inorganic growth.
- Significant untapped potential within existing operations.
Challenges Ahead
- Guidance assumes no unannounced acquisitions.
- Excludes tax-effected costs at start-up operations.
- Excludes share-based compensation expenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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