Business
Pennant Reports Fiscal Year 2019 and Fourth Quarter Financial Results
Conference Call and Webcast scheduled for tomorrow, March 5, 2020 at 10:00 am MT EAGLE, Idaho, March 04, 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, March 5, 2020 at 10:00 am MT\n EAGLE, Idaho, March 04, 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 fiscal year 2019 and fourth quarter, reporting GAAP earnings per share of $0.11 for the full year ended December 31, 2019(1), and loss per share of $0.14 for the fourth quarter. Pennant also reported adjusted earnings per share of $0.61 for the year and $0.16 for the quarter(2), and spin-off adjusted earnings per share of $0.48 for the full year. Full Year and Fourth Quarter Highlights Total revenue for the full year was $338.5 million, an increase of $52.5 million or 18.3% over the prior year, and total revenue for the quarter was $89.5 million, an increase of $14.2 million or 18.8% over the prior year quarter; Adjusted EBITDA for the full year was $27.2 million, an increase of 3.3% over the prior year, and adjusted EBITDA for the fourth quarter was $7.5 million, an increase of $0.7 million or 11.1% over the prior year quarter; Home Health and Hospice Services segment revenue for the full year was $206.6 million, an increase of $37.6 million or 22.2% over the prior year, and segment revenue for the quarter was $55.1 million, an increase of $10.9 million or 24.7% over the prior year quarter; Home Health and Hospice Services segment adjusted EBITDAR from operations(3) was $33.4 million for the year, an increase of $6.9 million or 26.2% over the prior year, and segment adjusted EBITDAR from operations was $9.5 million in the fourth quarter, an increase of $2.9 million or 44.9% over the prior year quarter; Total home health total admissions for the full year increased 24.2% over the prior year, and total home health admissions in the fourth quarter increased 25.2% over the prior year quarter; Hospice average daily census for the full year was 1,680, an increase of 26.4% over the prior year, and hospice average daily census in the fourth quarter increased 33.1% over the prior year quarter; Senior Living Services segment revenue for the full year was $131.9 million, an increase of $14.9 million or 12.7% over the prior year, and segment revenue for the fourth quarter was $34.4 million, an increase of $3.2 million or 10...