Business
Pennant Reports 2020 Second Quarter Results
Conference Call and Webcast scheduled for tomorrow, August 12, 2020 at 10:00 am MT EAGLE, Idaho, Aug. 11, 2020 (GLOBE NEWSWIRE) -- The Pennant Group, Inc.
About this update from The Pennant Group, Inc.
[{"type":"text","content":"Conference Call and Webcast scheduled for tomorrow, August 12, 2020 at 10:00 am MT\nEAGLE, Idaho, Aug. 11, 2020 (GLOBE NEWSWIRE) -- The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, today announced its operating results for the second quarter of fiscal year 2020, reporting GAAP diluted earnings per share of $0.15 for the quarter and adjusted diluted earnings per share of $0.24 for the quarter(1).\n Second Quarter Highlights Total revenue was $92.7 million, an increase of $10.0 million or 12.1% over the prior year quarter; GAAP earnings per share was $0.15, an increase of 15.4% over the prior year quarter, adjusted earnings per share was $0.24, an increase of 118.2% over the spin-adjusted prior year quarter(2), and adjusted EBITDA for the second quarter was $10.9 million, an increase of $4.1 million or 59.6% over the prior year quarter; Home Health and Hospice Services segment revenue was $58.0 million, an increase of $7.8 million or 15.5% over the prior year quarter, and segment adjusted EBITDAR from operations(2) was $11.2 million, an increase of $3.1 or 38.8% over the prior year quarter; Hospice average daily census was 1,979, an increase of 18.3% over the prior year quarter, hospice total admissions were 1,954, an increase of 20.7% over the prior year quarter, total home health admissions were 5,259 and total home health Medicare admissions were 2,459; Senior Living Services segment revenue was $34.8 million, an increase of $2.2 million or 6.9% over the prior year quarter, and segment adjusted EBITDAR from operations(3) was $13.5 million, an increase of 12.3% over the prior year quarter; and Excluding senior living communities acquired in the prior 12 months, occupancy was 80.7% as of the end of the quarter, an increase of 40 basis points over the prior year quarter, and average revenue per occupied room increased 3.2% over the prior year quarter. (1) See “Reconciliation of GAAP to Non-GAAP Financial Information.”(2) Second quarter 2019 spin-adjusted earnings per share of $0.11 modifies adjusted earnings per share of $0.16 for the quarterly impact of several items, including rent modifications that occurred as a result of the spin-off, interest expense, and general and administrative expenses associated with being a public company. (...