Pennant Group reports Q1 EPS 20c, consensus 17c

Reports Q1 revenue $156.9M, consensus $146.21M. Same store Senior Living Services segment revenue for the first quarter was $38.9 million, an increase of $3.6 million or 10.2% over the prior year quarter; same store senior living average occupancy for the first quarter was 79.7%, an increase of 60 basis points over the prior year quarter, and average monthly revenue per occupied room for the first quarter was $4,643 an increase of $349 or 8.1% over the prior year quarter…”We are pleased to report a strong first quarter and great start to the year,” said Brent Guerisoli, Pennant’s Chief Executive Officer. “We continue to experience accelerated growth and are encouraged to see our focus on margin result in solid bottom-line improvement. Our home health and hospice segment achieved record setting performance in both revenue and earnings and our senior living segment reached an all-time high in revenue and steady improvement in earnings. Our on-going investment in leadership is building a foundation of strength across the organization and the Company’s first quarter performance positions us to deliver on 2024 expectations.”