Business
Pennant Reports 2020 Third Quarter Results
Conference Call and Webcast scheduled for tomorrow, November 11, 2020 at 10:00 am MT EAGLE, Idaho, Nov. 10, 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, November 11, 2020 at 10:00 am MT\nEAGLE, Idaho, Nov. 10, 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 third quarter of fiscal year 2020, reporting GAAP diluted earnings per share of $0.15 for the quarter and adjusted diluted earnings per share of $0.18 for the quarter(1).\n Third Quarter Highlights Total revenue was $98.4 million, an increase of $10.0 million or 11.3% over the prior year quarter; GAAP earnings per share was $0.15, an increase of 150.0% over the prior year quarter, adjusted earnings per share was $0.18, an increase of 63.6% over the spin-adjusted prior year quarter(2), and adjusted EBITDA for the third quarter was $8.6 million, an increase of $2.1 million or 32.0% over the prior year quarter; Home Health and Hospice Services segment revenue was $64.4 million, an increase of $9.2 million or 16.7% over the prior year quarter, and segment adjusted EBITDAR from operations(3) was $13.5 million, an increase of $5.0 or 59.2% over the prior year quarter; Total home health admissions were 6,771, an increase of 28.8% sequentially over the second quarter and 21.9% over the prior year quarter, and total home health Medicare admissions were 3,418, an increase of 39.0% sequentially over the second quarter and 31.4% over the prior year quarter; Hospice average daily census was 2,177, an increase of 21.8% over the prior year quarter, and hospice total admissions were 2,133, an increase of 25.4% over the prior year quarter; and Senior Living Services segment revenue was $34.0 million, an increase of $0.8 million or 2.4% over the prior year quarter, segment adjusted EBITDAR from operations(3) was $11.7 million, an increase of 1.0% over the prior year quarter, and average monthly revenue per occupied unit was $3,173, an increase of 2.0% over the prior year quarter. (1) See \"Reconciliation of GAAP to Non-GAAP Financial Information.” (2) Third 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 as...