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Hanger, Inc. (NYSE: HNGR) reported Q4 2020 net revenue of $277.3 million, down 7.8% from $300.9 million in Q4 2019. Net income was $16.1 million, a decrease from $18.8 million the previous year. Patient Care segment revenue declined 10.6% due to COVID-19 impacts, while liquidity rose to $239.4 million. For the full year, net revenue was $1,001.2 million, down 8.8%, with GAAP diluted EPS of $0.99. Looking ahead, the company expects 2021 net revenue between $1.145 billion and $1.175 billion.
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Hanger, Inc. (NYSE: HNGR) will release its financial results for Q4 and the full year ending December 31, 2020, on March 1, 2021, after market close. A conference call is scheduled for March 2 at 8:30 a.m. ET to discuss these results. Hanger is the largest operator of orthotic and prosthetic patient care clinics in the U.S., with approximately 800 locations. The press release also notes risks related to COVID-19 impacts on operations and competition in the O&P market.
Hanger, Inc. (NYSE: HNGR) announced its participation at the 39th Annual J.P. Morgan Healthcare Conference, set for Jan. 11-14, 2021. Management will present on Jan. 14 at 2:00 p.m. Eastern Time. The event will feature discussions with institutional investors, aiming to enhance stakeholder engagement. Hanger operates approximately 800 clinics nationwide, focusing on orthotic and prosthetic patient care, and has nearly 160 years of experience in the industry. The webcast will be available on the company's investor relations website.
Hanger, Inc. (NYSE: HNGR) announced participation in several upcoming virtual conferences aimed at institutional investors. The Southwest IDEAS Conference will take place on November 18-19, 2020, featuring a presentation on November 18 at 8:00 a.m. Eastern time. Additionally, Hanger will engage in a fireside chat at the 3rd Annual Evercore ISI HealthCONx Conference from December 1-3, 2020, scheduled for December 2 at 8:50 a.m. Eastern time. Lastly, the 21st Annual “New Ideas for the New Year” Investor Conference is set for January 13, 2021.
Hanger, Inc. (NYSE: HNGR) reported a net revenue decline of 8.2% to $256.6 million for Q3 2020, impacted by reduced patient volumes due to the COVID-19 pandemic. Net income rose to $6.8 million, with adjusted diluted EPS of $0.20, down from $0.25 in Q3 2019. The Patient Care segment's revenue fell 7.9%, while the Products & Services segment dropped 9.7%. Liquidity increased to $242.3 million. CEO Vinit Asar noted a recovery in patient volumes and effective cost containment measures. No guidance was provided due to ongoing pandemic uncertainties.
Hanger, Inc. (NYSE: HNGR) announced the promotion of Regina Weger to President, Products & Services, and the hiring of Pete Stoy as Chief Operating Officer, effective Nov. 2, 2020. These appointments aim to bolster leadership across the company’s segments as it looks to enhance operations and partnerships. Weger, with over 20 years at the company, will oversee Products & Services, contributing to over 17% of Hanger’s revenue. Stoy, bringing nearly 20 years in healthcare, will lead the Patient Care segment, aiming to improve patient care experiences.
Hanger, Inc. (NYSE: HNGR) will report its financial results for the third quarter and nine months ended September 30, 2020, on November 4, 2020, after market close. The management team will host a conference call on November 5, 2020, at 8:30 a.m. ET to discuss the results. Interested parties can access the call by dialing 844-750-4896 or 412-317-5292 internationally. Hanger operates approximately 800 clinics across the U.S., providing orthotic and prosthetic patient care and distributing related products.