Concentra Group Holdings Parent, Inc. ( (CON) ) has released its Q3 earnings. Here is a breakdown of the information Concentra Group Holdings Parent, Inc. presented to its investors.
Concentra Group Holdings Parent, Inc. is the largest provider of occupational health services in the United States, offering a wide range of occupational and consumer health services to improve the health of America’s workforce. With a significant presence across 45 states, Concentra operates numerous health centers and clinics dedicated to delivering patient-centric care.
In its third-quarter earnings report for 2024, Concentra Group Holdings Parent, Inc. showcased a steady performance with growth in revenue, alongside strategic expansions in its operations. The company’s leadership expressed satisfaction with the progress in strategic initiatives and separation from Select Medical, indicating strong confidence in their growth trajectory.
The key financial metrics for the quarter ending September 30, 2024, include a 3.3% increase in revenue, reaching $489.6 million, and a net income of $45.8 million, translating to an earnings per share of $0.37. Despite a slight decline in patient visits per day, revenue per visit saw a 3.9% increase. Concentra also expanded its facilities, increasing the number of occupational health centers and onsite clinics, which is part of its broader growth strategy.
Concentra’s financial health is further underpinned by a cash balance of $136.8 million and a net leverage ratio of 3.7x. The company continues to invest in its expansion, as evidenced by the capital expenditures reported for the quarter. Additionally, Concentra announced a cash dividend of $0.0625 per share, reflecting its commitment to returning value to shareholders.
Looking forward, Concentra anticipates continued growth, with revenue expected to reach approximately $1.9 billion for the full year 2024. The management remains confident in achieving strategic objectives with a focus on expanding its service offerings and enhancing operational efficiency to navigate the evolving healthcare landscape.
