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.
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.
The Pennant Group, Inc. (NASDAQ: PNTG) announced its participation in the 2022 Stephens Annual Investment Conference on November 11, 2022. Key executives, including CEO Brent Guerisoli and CFO Jennifer Freeman, will engage in a fireside chat at 11:00 a.m. Eastern Time. A live webcast of the event will be available on the company’s Investor Relations webpage.
Pennant operates 95 home health and hospice agencies and 49 senior living communities across multiple states, emphasizing independent management for each subsidiary. Additional information about Pennant can be found on its website.
The Pennant Group, Inc. (NASDAQ: PNTG) reported its third-quarter 2022 results, showcasing a total revenue of $118.4 million, which marks a 5.7% increase compared to the previous year. The company achieved a net income of $4.8 million and adjusted EBITDA of $7.9 million, up 21.6% year-over-year. Home Health and Hospice Services revenue rose 8.6% to $85.8 million, while Senior Living Services revenue slightly declined by 1.1% to $32.6 million. Pennant completed acquisitions in California and Wisconsin and projects total revenue for 2022 to fall between $458-$462 million.
The Pennant Group, Inc. (NASDAQ: PNTG) announced its financial results for Q3 2022 will be released on November 7, 2022. Following this, a live webcast is scheduled for November 8, 2022, at 10:00 a.m. MT (12:00 p.m. ET), where management will discuss the results. Interested investors can access the webcast and related information on their Investor Relations website, with recordings available until December 9, 2022. Pennant operates 95 home health and hospice agencies and 49 senior living communities across various states.
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