EAGLE, Idaho, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of operating subsidiaries that provide home health, hospice and senior living services, announced today that it expects to issue its third quarter 2024 financial results on Wednesday, November 6, 2024. Pennant invites current and prospective investors to tune into a live webcast to be held the following day, Thursday, November 7, 2024, at 10:00 a.m. Mountain Time (12:00 p.m. Eastern Time), during which ...

Core Viewpoint - The Pennant Group, Inc. has announced a public offering of 3,500,000 shares of common stock at a price of $31.00 per share, aiming to raise approximately $108.5 million in gross proceeds before expenses [1]. Group 1: Offering Details - The offering includes a 30-day option for underwriters to purchase an additional 525,000 shares [1]. - The net proceeds from the offering will be used to repay outstanding debt under the revolving credit facility and for general corporate purposes [1]. - The expected closing date for the offering is around October 4, 2024, subject to customary closing conditions [1]. Group 2: Underwriters and Registration - Citigroup and Truist Securities are the lead book-running managers for the offering, with Wells Fargo Securities and RBC Capital Markets as joint book-running managers [2]. - The offering is conducted under the Company's effective shelf registration statement filed with the SEC, with a preliminary prospectus supplement filed on September 30, 2024 [2]. Group 3: Company Overview - The Pennant Group, Inc. operates as a holding company for independent subsidiaries providing healthcare services through 117 home health and hospice agencies and 54 senior living communities across multiple states [4].

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EAGLE, Idaho, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG) (the "Company") today announced that it has commenced an underwritten public offering of 3,500,000 shares of common stock of the Company. The Company intends to grant the underwriters a 30-day option to purchase up to 525,000 additional shares of common stock. The Company expects to use the net proceeds from the offering to repay outstanding indebtedness under the Company's revolving credit facility and any remaining for ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, it's pretty easy to find cutting-edge growth stocks with th ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock. That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which look ...

Financial Data and Key Metrics Changes - The company reported Q2 2024 revenue of $168.7 million, an increase of $36.4 million or 27.6% year-over-year, with adjusted EBITDA of $13.2 million and adjusted earnings per share of $0.24, exceeding consensus estimates [6][22][24] - Full year revenue guidance was raised to a range of $654 million to $694.5 million, representing a 5.7% increase over the original guidance and a 61.4% increase over 2022 adjusted earnings [8][23] Business Line Data and Key Metrics Changes - Home Health and Hospice segment revenue reached $125.3 million, up $30.3 million or 31.9% year-over-year, with adjusted EBITDA of $19.6 million, an increase of 36.3% [10] - Hospice revenue was $59.3 million, a 27.5% increase, with admissions rising 31.4% and average daily census increasing 29.1% [11] - Home Health revenue grew to $66 million, a 36.1% increase, with total admissions up 35.4% and Medicare admissions up 18.3% [12] - Senior Living segment revenue improved to $43.4 million, a 16.6% increase, with same-store occupancy at 79.2% [17] Market Data and Key Metrics Changes - The company added over 2,200 lives through acquisitions and organic growth, representing a greater than 50% increase compared to the end of 2023 [7] - The management agreement with Hartford HealthCare is expected to enhance the company's presence and operational capabilities in the East Coast market [19][20] Company Strategy and Development Direction - The company is focused on leadership development, clinical excellence, employee engagement, margin improvement, and growth as key strategic areas [5][6] - The decentralized acquisition model allows local leaders to make decisions, facilitating growth while transitioning new operations [18] - The acquisition of Signature Healthcare at Home is strategically important for expanding the company's footprint in the Pacific Northwest [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth trajectory, citing strong performance across all business lines and a healthy balance sheet [9][23] - The company anticipates continued strong operating performance and is prepared to address challenges in the reimbursement environment [16][42] Other Important Information - The company has increased its borrowing capacity to $250 million, enhancing its financial flexibility for future growth [8][24] - The average CMS star rating for the company is 4.1, significantly above the national average of 3.0, indicating strong clinical quality [13] Q&A Session Summary Question: Context on Signature integration timeline and key milestones - Management highlighted the focus on integrating leadership and systems for the first phase of the Signature acquisition, with further integration planned for the Oregon assets in early 2025 [30][31] Question: Revenue and EBITDA split between Signature tranches - The revenue split is approximately 2/3 for Oregon and 1/3 for Washington, with expectations for higher margins from the Oregon portion due to its hospice component [34][36] Question: Breakdown of revised guidance contributions from business lines - Hospice and Home Health segments showed significant growth, with hospice admissions up 30% and Home Health admissions nearly 30%, contributing to the guidance raise [39][40] Question: Leverage ratio expectations post-acquisition - The leverage ratio is expected to be between 2 to 2.5x at the beginning of 2025, with a plan to reduce it to under 2x as strong cash flow is anticipated [45]

For the quarter ended June 2024, The Pennant Group, Inc. (PNTG) reported revenue of $168.75 million, up 27.6% over the same period last year. EPS came in at $0.24, compared to $0.18 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $156.71 million, representing a surprise of +7.68%. The company delivered an EPS surprise of +14.29%, with the consensus EPS estimate being $0.21. While investors scrutinize revenue and earnings changes year-over-year and how they compare w ...

The Pennant Group, Inc. (PNTG) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this company would post earnings of $0.18 per share when it actually produced earnings of $0.20, delivering a surprise of 11.11%. Over the last four quarters, th ...