Welcome to our dedicated page for Pennant Group news (Ticker: PNTG), a resource for investors and traders seeking the latest updates and insights on Pennant Group stock.
The Pennant Group, Inc. reports developments for a holding company whose independent operating subsidiaries provide home health, hospice, home care and senior living services. Company updates commonly cover quarterly operating results, GAAP and non-GAAP earnings measures, segment performance, admissions, census, occupancy, rate trends and investor conference participation.
News also follows Pennant's acquisition and integration activity, including additions to its home health, hospice and senior living network. Completed community transitions, operating subsidiary structure and service continuity are recurring themes across its healthcare services disclosures.
The Pennant Group, Inc. (NASDAQ: PNTG) reported strong financial results for Q3 2020, showcasing GAAP diluted earnings per share of $0.15 and adjusted diluted earnings per share of $0.18. Total revenue reached $98.4 million, marking an 11.3% increase year-over-year. The home health and hospice segment saw a revenue boost of 16.7% to $64.4 million, while senior living services revenue grew by 2.4%. The company revised its 2020 adjusted earnings per share guidance upward to $0.75 - $0.80 and provided 2021 revenue guidance of $430 million to $440 million.
The Pennant Group, Inc. (NASDAQ: PNTG) will release its third quarter 2020 financial results on November 10, 2020. A webcast to discuss these results is scheduled for November 11, 2020 at 10:00 a.m. MT (12:00 p.m. ET). The company operates 75 home health and hospice agencies and 54 senior living communities across multiple states. Investors can access financial information via the company's Investor Relations website and replay the webcast until December 11.
The Pennant Group (NASDAQ: PNTG) recently launched two new hospice agencies: Alpha Home Health and Hospice in Everett, Washington, and Peaceful Heart Hospice in Murrieta, California. Both agencies received Medicare certification and began accepting patients in October 2020. CEO Daniel Walker emphasized the strategic growth opportunities these agencies present, highlighting local leadership efforts. The company aims to continue expanding by acquiring additional home health, hospice, and senior living businesses across the U.S.
The Pennant Group, Inc. (NASDAQ: PNTG) has successfully acquired Riverside Home Health Care, located in Grants Pass, Oregon, effective November 1, 2020. This acquisition expands Pennant's portfolio in southern Oregon and aligns with its strategy of sourcing off-market opportunities, as stated by CEO Daniel Walker. Riverside Home Health Care, which admitted around 1,100 patients in the past six months, is noted for its strong reputation within its community. Pennant Group is actively pursuing additional acquisitions in home health, hospice, and senior living sectors across the U.S.
The Pennant Group, Inc. (NASDAQ: PNTG) announces an expansion of its leadership with Brent Guerisoli appointed as President, effective January 1, 2021. Daniel Walker remains CEO. Guerisoli has significantly contributed to Cornerstone Healthcare's growth, expanding from 54 to 73 agencies. Walker praised Guerisoli's ability to develop leaders and drive financial and clinical excellence. Additionally, Brian Wayment will lead Cornerstone Healthcare, with John Gochnour supporting the transition. This leadership change reflects a commitment to growth and operational excellence across Pennant's healthcare services.
The Pennant Group (NASDAQ: PNTG) has acquired Harmony Hospice in Las Vegas, effective October 1, 2020, enhancing its presence in Southern Nevada. This acquisition follows similar transactions earlier in the year with affiliated hospice agencies in Arizona. CEO Daniel Walker emphasized the strategic and disciplined nature of this acquisition to address growth opportunities despite the challenges posed by COVID-19. Additionally, Pennant announced a joint venture with Scripps Health to create Seaport Scripps Home Health, expanding its service offerings in San Diego County.
The Pennant Group (NASDAQ: PNTG) announced the closing of its home health joint venture with Scripps Health, effective October 1, 2020. The joint venture will operate as Seaport Scripps Home Health and will be majority-owned by Pennant, providing home health services in San Diego County. This collaboration is aimed at enhancing quality care through integrated services and local leadership. Pennant plans to pursue further growth opportunities in the home health and hospice sectors.
The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of assets from CMS Home Health Care in Texas, effective September 16, 2020. This strategic decision aims to enhance their Texas portfolio in home health and hospice operations, complementing existing services in nearby cities like Abilene and Dallas. Pennant's CEO emphasized local leaders' capability to drive growth despite market challenges, while the president of Cornerstone Healthcare expressed excitement about incorporating CMS's staff and patients. The company plans to continue pursuing new growth opportunities across its sectors.
The Pennant Group, Inc. (NASDAQ: PNTG) reported strong second-quarter results for fiscal year 2020, with total revenue of $92.7 million, a 12.1% increase year-over-year. GAAP earnings per share increased 15.4% to $0.15, while adjusted earnings per share rose 118.2% to $0.24. Home Health and Hospice Services generated $58.0 million in revenue, a 15.5% increase, and average daily census grew 18.3%. The company updated its guidance, raising annual adjusted earnings per share expectations to $0.71 to $0.78.
The Pennant Group, Inc. (NASDAQ: PNTG) announced it will release its Q2 2020 financial results on August 11, 2020. A live webcast is scheduled for August 12, 2020, at 10:00 a.m. Mountain Time, where management will discuss these results. The Pennant Group operates 71 home health and hospice agencies and 54 senior living communities across multiple states, including Arizona, California, and Texas. Detailed financial information will be available via their Investor Relations webpage.