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The Pennant Group, Inc. (NASDAQ: PNTG) reported strong first-quarter 2024 results, including GAAP diluted earnings per share of $0.16 and adjusted diluted earnings per share of $0.20. Total revenue increased by 24.1% to $156.9 million. Net income rose by 165.2% to $4.9 million. The Home Health and Hospice Services segment saw revenue growth of 27.9% to $116.5 million. Senior Living Services revenue increased by 14.2% to $40.4 million. The company's focus on margin resulted in improved bottom-line performance, positioning them well for 2024.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of Veranda Senior Living at Paramount, a 73-unit assisted living and memory care community in Meridian, Idaho. The community will be rebranded as Table Rock Senior Living at Paramount. This acquisition marks Pennant's expansion in southwestern Idaho, enhancing its senior living portfolio and strengthening its presence in the region.
The Pennant Group, Inc. has acquired South Davis Home Health and South Davis Hospice, expanding its presence in Utah. The acquisition aims to enhance Pennant's services in central and northern Utah, particularly in Davis County. The company's CEO highlighted the importance of providing life-changing hospice services to the community, expressing excitement about the partnership with South Davis' experienced team.
