Pennant Group Inc Stock Price, News & Analysis

The Pennant Group, Inc. (NASDAQ: PNTG) announced it will release its first quarter 2023 financial results on May 4, 2023. A live webcast is scheduled for May 5, 2023, at 10:00 a.m. MT to discuss these results. Investors can access the webcast and relevant financial information on the company's Investor Relations website. Pennant operates through 96 home health and hospice agencies and 51 senior living communities across various states, including Arizona, California, Colorado, and Texas. Each agency operates independently, contributing to the company's diverse healthcare service offerings.

The Pennant Group, Inc. (NASDAQ: PNTG) announced the acquisition of two memory care and assisted living facilities in Wisconsin: Robins Landing at New Berlin and Robins Landing at Brookfield. The acquisition, effective March 16, 2023, involves 44 and 52 beds respectively and will operate under a long-term, triple-net lease. CEO Brent Guerisoli emphasized that this expansion enhances their existing operations in Wisconsin, strengthening their home health and senior living service offerings. The company continues to seek further acquisition opportunities across the U.S.

The Pennant Group, Inc. (NASDAQ: PNTG) announced the appointment of Barry Smith as Chairman of its board and Brent Guerisoli as a board member, effective February 28, 2023. Barry Smith, who has been on the board since 2021, replaces Daniel Walker, who stepped down to focus on family and charitable endeavors. Smith's leadership and industry knowledge are expected to enhance the board's effectiveness. Brent Guerisoli, the current CEO, will also join the board, bringing over a decade of experience with the company. The board remains at eight members, with Guerisoli serving on the Quality and Compliance Committee.

The Pennant Group (NASDAQ: PNTG) reported its fiscal year 2022 operating results, showcasing strong growth in both home health and senior living segments. The company achieved GAAP diluted earnings per share of $0.22 for the year and $0.12 for Q4 2022. Annual revenue increased by 7.6% to $473.2 million, with Q4 revenue rising 11.5% to $124.7 million. Adjusted EBITDA for the year was $31.5 million, reflecting a 19.5% increase. The company anticipates 2023 revenue guidance between $503.5 million and $518.4 million, and adjusted earnings per share expected to grow by 24.6%. The conference call to discuss results is set for February 24, 2023.

The Pennant Group, Inc. (NASDAQ: PNTG) announced it will release its fourth quarter and fiscal year 2022 financial results on February 23, 2023. Following this, a live webcast will be held on February 24, 2023, at 10:00 a.m. Mountain Time, where management will discuss the results. The webcast will be available for replay until March 24, 2023. Pennant operates 95 home health and hospice agencies and 49 senior living communities across multiple states, emphasizing independent management for each subsidiary. More details can be found on their Investor Relations website.

The Pennant Group, Inc. (NASDAQ: PNTG) announced a new share repurchase program as of December 13, 2022, aimed at enhancing shareholder value. The board authorized the repurchase of common stock, emphasizing a strategic approach to capital deployment in response to undervaluation. CEO Brent Guerisoli highlighted the company's confidence in its operations and growth strategy, citing share buybacks as a vital capital allocation tool. The program's activities will depend on market conditions and will expire on December 12, 2023, without any obligation to repurchase a specific amount.

The Pennant Group (NASDAQ: PNTG) announced on Nov. 15, 2022, that it will initiate a search for a new Chief Financial Officer (CFO) as it aims to bolster its leadership and finance team. Current CFO, Jennifer Freeman, will serve as interim CFO during this transition. The company also disclosed the resignation of Derek Bunker, the Chief Investment Officer, effective December 31, 2022. Despite these changes, Pennant's leadership remains focused on growth, especially in home health and hospice sectors, while reinforcing its operational model.