Pennant Group Inc Stock Price, News & Analysis

The Pennant Group, Inc. (NASDAQ: PNTG) announced its participation in two investor conferences. Brent Guerisoli, President, along with CFO Jennifer Freeman and CIO Derek Bunker, will present at the 2021 Barclays Global Healthcare Conference on March 9, 2021. Additionally, COO John Gochnour, Ms. Freeman, and Mr. Bunker will present at the Oppenheimer 31st Annual Healthcare Conference on March 17, 2021, at 9:20 a.m. MT. Live webcasts will be available on Pennant's Investor Relations website, providing stakeholders access to company insights.

The Pennant Group (PNTG) reported robust financial results for FY 2020, with total revenue rising to $391 million, an increase of 15.5% year-over-year. GAAP diluted EPS reached $0.52 for the year and $0.13 in Q4. Adjusted EBITDA was $36.1 million, a 32.9% increase. The Home Health and Hospice Services segment saw revenue growth of 22.8%, while senior living revenue rose 4.1%. The company reaffirmed its 2021 guidance for total adjusted revenue between $430 million and $440 million.

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.