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) has amended its revolving credit facility, increasing it by $75 million to a total of $150 million. As of February 22, 2021, approximately $18.3 million was drawn. The amendment, arranged by Truist Bank, helps improve the company's long-term capital structure, extends the facility's termination to 2026, reduces interest rates on drawn capital, and lowers undrawn fees. CFO Jenn Freeman stated that proceeds will be allocated for acquisitions, growth investments, and working capital. The net-debt-to-adjusted EBITDA ratio stands at 0.23x.
The Pennant Group, Inc. (NASDAQ: PNTG) announced it will release its fourth quarter and fiscal year 2020 financial results on February 24, 2021. A live webcast for current and prospective investors is scheduled for February 25, 2021, at 10:00 a.m. Mountain Time (12:00 p.m. Eastern Time), where management will discuss the financial results. The Pennant Group operates 80 home health and hospice agencies and 54 senior living communities across multiple states, emphasizing independent operations through its subsidiaries.
The Pennant Group (NASDAQ: PNTG) has acquired Sacred Heart Home Health Care, effective January 16, 2021. This strategic acquisition enhances Pennant's service offerings in Tucson and strengthens its presence in Phoenix, Arizona. Sacred Heart, known for its high-quality home health services, admitted approximately 730 patients last year and has a five-star patient survey rating. Pennant aims to leverage Sacred Heart's excellence and expand growth opportunities in these markets while continuing to seek further acquisitions across the U.S.
The Pennant Group, Inc. (NASDAQ: PNTG) announced its participation in the 2021 Stifel Seniors Housing and Healthcare Real Estate Conference on January 19, 2021. Chief Investment Officer Derek Bunker will engage in a panel discussion alongside other senior living operators from 1:00 p.m. to 1:45 p.m. Eastern Time. A live webcast of the panel will be available on Pennant's Investor Relations website.
Pennant operates 78 home health and hospice agencies and 54 senior living communities across multiple states in the U.S.
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.