Financial Performance - Revenue for Q3 2025 increased by 17.0% to $572.8 million, compared to $489.6 million in Q3 2024[4] - Net income for Q3 2025 was $49.8 million, an increase of 8.9% from $45.8 million in Q3 2024[5] - Adjusted EBITDA rose by 17.1% to $118.9 million in Q3 2025, up from $101.6 million in Q3 2024[5] - Revenue for the nine months ended September 30, 2025, was $1,624,337, representing a 13.2% increase from $1,435,151 in 2024[25] - Net income for the nine months ended September 30, 2025, was $136,658, a decrease of 8.8% from $149,097 in 2024[34] - Basic and diluted earnings per share for the nine months ended September 30, 2025, was $1.03, compared to $1.32 in 2024[28] - Net income for Q3 2025 was $49,822, representing 8.7% of revenue, compared to $45,759 (9.3%) in Q3 2024[44] - Adjusted net income attributable to the company for Q3 2025 was $49,929, or $0.39 per share, compared to $44,306 ($0.37) in Q3 2024[49] Operational Metrics - Patient visits totaled 3,557,697 in Q3 2025, averaging 55,589 visits per day, a 9.2% increase from Q3 2024[5] - Total patient visits for the nine months ended September 30, 2025, were 10,282,385, a 6.8% increase compared to 9,628,515 in 2024[38] - The number of occupational health centers increased to 628 by the end of September 2025, up from 549 in 2024, with 72 centers acquired during the period[38] - The company operated 413 onsite health clinics by the end of September 2025, compared to 156 in 2024[38] - Revenue per visit for workers' compensation increased by 4.7% to $211.82 in Q3 2025 from $202.29 in Q3 2024[36] Financial Position - The company reported a cash balance of $49.9 million and reduced net leverage to 3.6x as of September 30, 2025[8] - Total assets increased to $2,843,930 as of September 30, 2025, from $2,521,164 at the end of 2024[32] - Cash at the end of the period decreased to $49,941 from $183,255 at the beginning of the period[32] - Current liabilities increased slightly to $312,650 as of September 30, 2025, compared to $307,186 at the end of 2024[32] Expenses and Costs - Total costs and expenses rose by 14.3% to $1,360,024 for the nine months ended September 30, 2025, from $1,189,759 in 2024[25] - Interest expense surged by 287.4% to $82,424 in 2025, compared to $21,275 in 2024[25] - Interest expense for Q3 2025 was $28,683, which is 5.0% of revenue, compared to $21,369 (4.4%) in Q3 2024[44] - Cash paid for interest increased significantly to $94,135 in 2025 from $34,221 in 2024[34] Guidance and Future Expectations - Concentra raised its full-year 2025 revenue guidance to a range of $2.145 billion to $2.160 billion[17] - The company expects full-year 2025 adjusted EBITDA to be in the range of $425 million to $430 million[54] - The anticipated net income attributable to the company for 2025 is projected between $156 million and $161 million[54] Shareholder Actions - A cash dividend of $0.0625 per share was declared, payable on December 9, 2025[10] - The company authorized a share repurchase program of up to $100 million, set to expire on December 31, 2027[12] Capital Expenditures - Capital expenditures for 2025 are expected to be in the range of $80 million to $90 million[17] Other Financial Activities - The company reported a loss on early retirement of debt amounting to $875 in 2025, with no such loss reported in 2024[25] - The company reported a net cash used in investing activities of $394,725 for the nine months ended September 30, 2025, compared to $54,579 in 2024[34] - Separation transaction costs for Q3 2025 were $1,025, representing 0.2% of revenue[44] - The company incurred $1,181 in acquisition costs related to Nova and Pivot Onsite Innovations in Q3 2025[44]
Concentra Group Holdings Parent, Inc.(CON) - 2025 Q3 - Quarterly Results