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. (NASDAQ: PNTG) is an established healthcare provider in the United States, serving patients of all ages with a particular focus on the growing senior population. The company operates in multiple segments including home health, hospice, and senior living services. Pennant Group’s senior living services comprise assisted living, independent living, and memory care facilities located across Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming.
The company derives a significant portion of its revenue from its home health and hospice segments, which collectively include home health, hospice, and home care services. These services are designed to provide comprehensive and compassionate care to individuals in the comfort of their homes, enhancing their quality of life and supporting their families.
In recent developments, Pennant Group formed a strategic joint venture with John Muir Health to create Muir Home Health, a new entity aimed at delivering home health services throughout the Bay Area. This collaboration leverages John Muir Health’s extensive healthcare expertise and Pennant Group’s profound experience in home health management. The venture is set to offer a range of services including skilled nursing, physical therapy, occupational and speech therapy, home health aide, and medical social work services.
Pennant Group is committed to innovation and quality care, backed by its operational model that empowers local leadership teams to implement effective clinical programs and ensure seamless transitional care. The company's leadership underscores their dedication to providing exceptional patient care and supporting their employees, as evidenced by the glowing remarks from both Pennant Group and John Muir Health executives regarding the new joint venture.
Financially, the company continues to maintain a solid performance, with ongoing projects and partnerships designed to expand its service delivery and enhance patient outcomes. Investors and stakeholders can stay informed about the latest updates by tuning into their scheduled conference calls and webcasts, the next of which is slated for May 7, 2024, at 10:00 am MT.
Pennant Group (NASDAQ: PNTG) reported strong financial results for Q4 and fiscal year 2024. Total revenue reached $695.2M for the full year, up 27.6%, with Q4 revenue at $188.9M, increasing 29.4% year-over-year.
Key financial metrics include:
- Full-year net income of $22.6M, up 68.6%
- Q4 net income of $5.8M, up 32.4%
- Full-year adjusted EBITDA of $53.3M, up 30.9%
The Home Health and Hospice segment showed significant growth with revenue of $519.5M (+31.7%), while Senior Living segment revenue reached $175.8M (+16.8%). For 2025, management projects revenue between $800.0M-$865.0M and adjusted earnings per diluted share of $1.03-$1.11, representing 13.8% growth at the midpoint.
The Pennant Group (NASDAQ: PNTG), a healthcare services provider, has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, February 27, 2025. The company will host a live webcast on Friday, February 28, 2025, at 10:00 a.m. Mountain Time (12:00 p.m. Eastern Time) to discuss the results.
The webcast will be accessible through the Investor Relations section of Pennant's website and will remain available for replay until February 27, 2026. Pennant operates through independent subsidiaries providing home health, hospice, and senior living services across 13 states, including Arizona, California, Colorado, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming.
The Pennant Group (NASDAQ: PNTG) has announced the acquisition of three premier senior living facilities, effective February 1, 2025. The expansion includes one facility in Idaho under a triple net lease with a purchase option, and two facilities in Texas under a long-term triple net lease.
The acquisitions add 188 units to Pennant's operations, offering both assisted living and memory care services. This strategic move strengthens the company's national presence and aligns with its mission to provide high-quality personalized care for seniors.
CEO Brent Guerisoli emphasized this expansion as a step forward in key markets, while Andrew Rider, President of Pinnacle Senior Living , Pennant's senior living subsidiary, highlighted the company's commitment to delivering exceptional care while pursuing long-term growth.
The Pennant Group (NASDAQ: PNTG) has completed its acquisition of Signature Healthcare at Home assets in Oregon, following the earlier purchase of Signature's Idaho and Washington assets on August 1, 2024. The Oregon acquisition, finalized on January 1, 2025, includes seven locations across the state, complementing Pennant's existing presence in Portland and Grant's Pass.
This two-stage acquisition strengthens Pennant's position as a leading home health and hospice provider in the Pacific Northwest. The company reports a successful integration of the Idaho and Washington operations over the previous two quarters, with management expressing confidence in the cultural alignment between the organizations. Following what they describe as a record-breaking year in 2024, Pennant now operates 122 home health and hospice agencies and 57 senior living communities across 13 states.
The Pennant Group (NASDAQ: PNTG) has announced key leadership changes to its board of directors, effective January 1, 2025. Brent Guerisoli, the company's current CEO since 2022, has been appointed as Chairman of the board, succeeding Barry Smith who will remain on the board and continue as chairman of the nominating and corporate governance committee.
Additionally, Scott Lamb has been appointed as Lead Independent Director. Lamb, who has served on Pennant's board and as chairman of its audit committee since 2019, brings valuable experience from his previous role as CFO of ICU Medical (2008-2020). Guerisoli, who has been with the organization since 2012 and joined the board in 2023, has been recognized for his inspiring leadership, consistent performance, and transparent communication.
The Pennant Group (NASDAQ: PNTG) announced its participation in the 2024 Stephens Annual Investment Conference, scheduled for November 19-20, 2024. The company's leadership team, including CEO Brent Guerisoli, CFO Lynette Walbom, and President/COO John Gochnour, will engage in a fireside chat on November 19 at 10:00 a.m. Central Time. Pennant Group, which operates affiliated home health, hospice and senior living companies, will provide a live webcast of the event through their investor relations website.
Pennant Group (NASDAQ: PNTG) reported strong Q3 2024 results with total revenue of $180.7 million, up 28.9% year-over-year. Net income reached $6.2 million, increasing 41.6%, while adjusted earnings per share was $0.26. Home Health and Hospice Services segment revenue grew 33.7% to $135.7 million, with total home health admissions up 38.5%. Senior Living Services segment revenue increased 16.3% to $45.0 million. The company updated its 2024 guidance, projecting total revenue between $665.3-706.5 million and adjusted earnings per share of $0.90-0.96.
The Pennant Group (NASDAQ: PNTG) has acquired three senior living facilities in Green Bay and Appleton, Wisconsin, effective November 1, 2024. The acquisition includes Marla Vista Assisted Living and Manor (renamed to Blue Jay Springs Senior Living and Memory Care), Carrington Assisted Living (renamed to Autumn Embers Senior Living), and Carolina Assisted Living (renamed to Lotus Gardens Senior Living). The transaction adds 125 units to Pennant's portfolio and will operate under a long-term, triple net lease arrangement. This strategic move strengthens Pennant's presence in Wisconsin and enhances its ability to serve the region's growing senior population.
The Pennant Group (NASDAQ: PNTG) has announced its plans to release third quarter 2024 financial results on November 6, 2024. The company will host a live webcast on November 7, 2024, at 10:00 a.m. Mountain Time to discuss the results. Investors can access the webcast through the Investor Relations section of Pennant's website. The recorded webcast will be available for replay until November 6, 2025.
Pennant Group is a holding company operating 122 home health and hospice agencies and 54 senior living communities across 13 states. These healthcare services are provided through independent operating subsidiaries, each with its own management and assets.
The Pennant Group (NASDAQ: PNTG) announced the pricing of an underwritten public offering of 3,500,000 shares of its common stock at $31.00 per share, aiming to raise $108.5 million before deducting underwriting discounts, commissions, and expenses. The underwriters have a 30-day option to purchase an additional 525,000 shares. The company plans to use the net proceeds to repay outstanding debt under its revolving credit facility and for general corporate purposes. The offering is expected to close around October 4, 2024, subject to customary conditions. Citigroup and Truist Securities are the lead book-running managers, with Wells Fargo Securities and RBC Capital Markets as joint book-running managers. Oppenheimer & Co. and Stephens Inc. are co-managers. The offering is being made under an effective shelf registration statement filed with the SEC. A preliminary prospectus supplement was filed on September 30, 2024, and the final prospectus supplement will be filed with the SEC.
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