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) announced the acquisition of two hospice agencies in Arizona: Prime Hospice in Phoenix and Harmony Hospice of Arizona in Kingman, effective May 16, 2020. This strategic move enhances Pennant's presence as a leading hospice care provider in Arizona. CEO Daniel Walker emphasized the importance of off-market opportunities and the company's strong relationships in the industry. Furthermore, Pennant is expected to close on a third acquisition in the southwestern U.S. by July 1, 2020, signaling continued growth in the home health and hospice sector.
The Pennant Group, Inc. (NASDAQ: PNTG) reported its first-quarter financial results for fiscal year 2020, showcasing a significant revenue increase of 17.9% to $91.8 million. GAAP diluted EPS reached $0.10, a 100% increase from last year, while adjusted diluted EPS was $0.16. The Home Health and Hospice segment also saw a robust performance, with revenues up 23.1%. Despite COVID-19 challenges, the company maintained its 2020 guidance of $376 million to $386 million in revenue and $0.53 to $0.58 in adjusted EPS.
The Pennant Group, Inc. (NASDAQ: PNTG) announced its participation in two virtual investor conferences. CEO Daniel Walker and CFO Jennifer Freeman will attend the Bank of America Merrill Lynch Global Healthcare Conference on May 14, 2020, at 1:40 p.m. ET. Additionally, CFO Freeman, COO John Gochnour, and President Brent Geurisoli will engage in a fireside chat at the RBC Capital Markets Global Healthcare Virtual Conference on May 20, 2020, at 3:05 p.m. ET. Interested parties can access a live webcast and audio archive on the company's Investor Relations page.
The Pennant Group, Inc. (NASDAQ: PNTG) announced it will report its first quarter 2020 financial results on May 13, 2020. A live webcast will follow on May 14 at 10:00 a.m. Mountain Time, where management will discuss the financial outcomes. The company operates 65 home health and hospice agencies along with 53 senior living communities across several states, including California, Texas, and Wisconsin, although each agency is managed independently. For more details, visit the Investor Relations section on their website.