NASDAQ$PNTG
The Pennant Group Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Pennant Group reported strong performance driven by momentum across the business and robust performance in existing operations, along with successful integration of new operations.
The Pennant Group reported a strong third quarter with a 28.9% increase in total revenue compared to the prior year quarter. GAAP diluted earnings per share were $0.20, and adjusted diluted earnings per share were $0.26. The company is well-positioned for future growth with a healthy balance sheet.
- Total revenue for the third quarter was $180.7 million, an increase of 28.9% over the prior year quarter.
- Net income for the third quarter was $6.2 million, an increase of 41.6% over the prior year quarter.
- Home Health and Hospice Services segment revenue for the third quarter was $135.7 million, an increase of 33.7% over the prior year quarter.
- Senior Living Services segment revenue for the third quarter was $45.0 million, an increase of 16.3% over the prior year quarter.
Headline financials
Revenue & EPS history
Pennant Group · Revenue · Quarterly
$181M
Revenue by segment
Pennant Group · $37.3M total across 1 segment · Q2 2023
- Senior Living Services$37.3M—100.0%
Forward guidance
Management is updating its annual guidance as follows: total revenue is anticipated to be between $665.3 million and $706.5 million; full year 2024 adjusted earnings per diluted share is anticipated to be between $0.90 and $0.96; and full year 2024 adjusted EBITDA is anticipated to be between $51.9 million and $55.2 million.
Tailwinds
- Continued momentum in the business
- Incorporates current operations and organic growth
- Diluted weighted average shares outstanding of approximately 32.5 million
- Effective tax rate of 26.0%
- Consistent operating performance through the end of the year
Headwinds
- Hospice reimbursement rate adjustments
- Excludes unannounced acquisitions
- Excludes the announced purchase of Signature’s Oregon assets
- Excludes start-ups
- Excludes share-based compensation, acquisition-related costs, or one-time implementation and unusual items
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-0.4%
Avg return
Earnings day
+5.0%
Avg return
5 days after
+5.6%
Avg return
30 days after
40%
12 / 30 earnings
Positive
+27.4%
Q2 2020
Best reaction
-18.7%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.4% | +8.4% | +0.5% | |
| Q4 2025 | -7.8% | -0.2% | -9.8% | |
| Q3 2025 | -5.8% | +0.4% | +16.1% | |
| Q1 2025 | +3.7% | +10.1% | +10.1% | |
| Q4 2024 | -10.8% | -8.1% | -3.6% | |
| Q3 2024 | +0.6% | +6.4% | -5.9% | |
| Q2 2024 | +0.3% | +8.2% | +18.3% | |
| Q1 2024 | -2.3% | +5.8% | +11.3% | |
| Q4 2023 | +12.4% | +13.3% | +18.3% | |
| Q3 2023 | +7.6% | +5.7% | +13.6% | |
| Q2 2023 | -1.2% | +8.9% | +1.3% | |
| Q1 2023 | -9.4% | -14.7% | -6.8% | |
| Q4 2022 | +11.3% | +20.7% | +8.9% | |
| Q3 2022 | -11.4% | -10.8% | -20.0% | |
| Q2 2022 | +6.8% | +12.6% | +0.6% | |
| Q1 2022 | +6.6% | +26.4% | +21.3% | |
| Q4 2021 | -7.5% | -7.9% | +12.9% | |
| Q3 2021 | -18.7% | -6.9% | -21.1% | |
| Q2 2021 | -5.8% | -15.0% | +0.0% | |
| Q1 2021 | -2.2% | -9.4% | -14.2% | |
| Q4 2020 | -8.3% | -7.5% | -16.9% | |
| Q3 2020 | -0.5% | +5.3% | +21.1% | |
| Q2 2020 | +27.4% | +23.8% | +15.9% | |
| Q1 2019 | +15.1% | +51.2% | +45.5% | |
| Q1 2020 | +15.1% | +51.2% | +45.5% | |
| Q2 2019 | -3.3% | -13.7% | -43.7% | |
| Q4 2017 | -3.3% | -13.7% | -43.7% | |
| Q4 2019 | -3.3% | -13.7% | -43.7% | |
| Q3 2019 | -10.5% | +7.0% | +68.4% | |
| Q4 2018 | -10.5% | +7.0% | +68.4% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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