The Pennant (US:PNTG)2025-11-05 21:09Revenue Performance - Total revenue for Q3 2025 was $229.0 million, an increase of $48.4 million or 26.8% year-over-year[2]. - Total revenue for the three months ended September 30, 2025, was $229,039 thousand, a 26.7% increase from $180,688 thousand in the same period of 2024[20]. - Home health and hospice revenue for the nine months ended September 30, 2025, reached $499,455 thousand, up 32.3% from $377,463 thousand in 2024[25]. - Total revenue for the nine months ended September 30, 2025, was $658,382,000, a 30.0% increase from $506,348,000 in the same period of 2024[31]. Segment Performance - Home Health and Hospice Services segment revenue for Q3 2025 was $173.6 million, an increase of $37.9 million or 27.9% year-over-year[2]. - Senior Living Services segment revenue for Q3 2025 was $55.5 million, an increase of $10.5 million or 23.2% year-over-year[2]. - Senior living revenue for the three months ended September 30, 2025, was $55,474 thousand, reflecting a 23.2% increase from $45,016 thousand in 2024[27]. - Home Health and Hospice segment revenue for Q3 2025 was $173,545, an increase of 28% from $135,672 in Q3 2024[41]. - Senior Living segment revenue for Q3 2025 was $53,880, up 20% from $45,016 in Q3 2024[41]. Admissions and Census - Total home health admissions for Q3 2025 were 20,426, an increase of 5,433 or 36.2% year-over-year[2]. - Hospice average daily census for Q3 2025 was 4,044, an increase of 600 or 17.4% year-over-year[2]. - Total home health admissions increased by 36.2% to 20,426 for the three months ended September 30, 2025, compared to 14,993 in 2024[24]. - The average daily census for hospice services increased by 17.4% to 4,044 for the three months ended September 30, 2025, compared to 3,444 in 2024[24]. Financial Guidance and Projections - Updated 2025 annual revenue guidance is anticipated to be between $911.4 million and $948.6 million[4]. - Full year 2025 adjusted earnings per diluted share is anticipated to be between $1.14 and $1.18, representing a growth of 23.4% from 2024[5]. - Full year 2025 adjusted EBITDA is anticipated to be between $70.9 million and $73.8 million[4]. Income and Earnings - Adjusted net income for Q3 2025 was $10.4 million, an increase of $2.3 million or 27.6% year-over-year[2]. - Non-GAAP net income for Q3 2025 was $10,421,000, compared to $8,167,000 in Q3 2024, representing a 27.5% increase[32]. - Adjusted diluted earnings per share for Q3 2025 was $0.30, up from $0.26 in Q3 2024[32]. - Consolidated Adjusted EBITDA for Q3 2025 was $17,347,000, compared to $15,149,000 in Q3 2024, indicating a 14.5% increase[36]. Assets and Liabilities - Total assets as of September 30, 2025, were $753,641 thousand, an increase from $679,521 thousand at December 31, 2024[16]. - Total current liabilities increased to $109,352 thousand as of September 30, 2025, from $101,700 thousand at December 31, 2024[16]. - Total equity as of September 30, 2025, was $343,043 thousand, up from $311,965 thousand at December 31, 2024[16]. Operational Metrics - Average Medicare revenue per 60-day completed episode for home health services was $3,793 for the three months ended September 30, 2025, a 2.9% increase from $3,687 in 2024[24]. - Occupancy rate improved to 81.8% in Q3 2025, up from 80.2% in Q3 2024, reflecting a 1.6% increase[28]. - Average monthly revenue per occupied unit rose to $5,136 in Q3 2025, a 7.2% increase from $4,790 in Q3 2024[28]. - Average monthly revenue per occupied unit for the nine months ended September 30, 2025, was $5,180, an 8.9% increase from $4,758 in the same period of 2024[28]. Acquisitions and Corporate Strategy - The company completed the acquisition of 54 home health, hospice, and home care operations from UnitedHealth Group and Amedisys on October 1, 2025[3]. - The company is focusing on transitioning operations and has incurred costs related to acquisitions and unusual charges, impacting overall financial performance[43].