Concentra Group Holdings Parent, Inc. · NYSE:CON
Concentra Group Holdings Parent — Concentra — Q2 2024 Earnings Presentation
18 slides from Concentra Group Holdings Parent's earnings presentation, Aug 1, 2024
Slide 1: 2nd Quarter 2024 Results
2nd Quarter 2024 Results August 1, 2024 ©2024 Concentra Inc. All rights reserved.
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results that include, but are not limited to, financial guidance and
Slide 3: Concentra At-a-Glance
Concentra At-a-Glance Concentra is the largest provider of occupational health services in the United States by number of locations1, with a mission of improving the health of America’s workforce, one patient at a time. KEY STATISTICS ROBUST FINANCIALS 547 154 $1.9bn $365mm Occupational health Onsit
Slide 4: We Have Built an Extensive Footprint Across the U.S.
We Have Built an Extensive Footprint Across the U.S. Our broad geographic footprint serves a vast number of employers and enables us to care for millions of employees 65% of U.S. employer locations are within ~12 miles of our health centers1 Occupational Health Center Onsite Health Clinic Telemedici
Slide 5: We Create Convenient Access for Employers and Patients
We Create Convenient Access for Employers and Patients… Occupational Onsite Health Health Centers Clinics Telemed Description Centers specializing in Clinics dedicated to a Telemedicine solution offering occupational and single employer’s used to treat work injuries other health care services worksi
Slide 6: A Comprehensive Array of Services For Workers' Compensation and Employer Services
…And Offer a Comprehensive Array of Services For Workers’ Compensation and Employer Services, All in One Place Injury care Nature of injuries treated Workers’ Sprains / strains Lacerations / abrasions Compensation ~64% Physical therapy Eye injuries Burns / wound care Of Revenue1 Services Exposures F
Slide 7: We Have a Diverse Revenue Mix Among Payors and Geographies
We Have a Diverse Revenue Mix Among Payors and Geographies Attractive payor mix1 Broad geographic mix2 Medicare & Other Urgent & Commercial <1% 2% Workers’ Remaining states California Employer Compensation 55% 18% Services Employers, insurance Employers and TPAs carriers and TPAs 34% 64% Texas 10% P
Slide 8: Our Value Proposition is Focused on Improving Employees' Health with a Safe Return to Work
Our Value Proposition is Focused on Improving Employees’ Health with a Safe Return to Work Access and With alignment across all stakeholders – including patients, employers, and convenience payors – we aim to ensure employees’ safe and sustainable return to work and help lower overall claims costs,
Slide 9: Our Competitive Strengths Deliver Value Creation
Our Competitive Strengths Deliver Value Creation 1 Leader in Occupational Health Services 2 Diversified Service Offering 3 High-Quality Health Care & Positive Clinical Outcomes 4 Operational Excellence & Positive Patient Satisfaction 5 Deep & Diverse Customer Relationships 6 Track Record of Innovati
Slide 10: Introducing our Board of Directors
Introducing our Board of Directors with a Long Track Record of Success and Health Care Leadership Experience Robert A. Ortenzio Daniel J. Thomas Keith Newton Director, Chair Director Director, CEO • Co-founder and Executive Chairman/Director of Select • Former Concentra President, CEO and COO from •
Slide 11: Key Q2 Performance Highlights & Company Developments
Key Q2 Performance Highlights & Company Developments • Number of locations grew +3% YoY to 701 total locations • 1 new occupational health center added (via de novo) in Q2 2024 • Revenue increased +2% in Q2 YoY, largely driven by reimbursement rate increases and positive shifts in visit mix • Worker
Slide 12: Q2 2024 Performance
Q2 2024 Performance Number of Locations Visits per Day Revenue per Visit 681 701 +3% 51,061 50,223 -2% $134.50 $139.81 +4% 141 154 +9% 27,828 26,600 -4% 540 547 +1% 22,329 22,739 +2% 6/30/23 6/30/24 Q2 '23 Q2 '24 Q2 '23 Q2 '24 Work. Comp. $195 $198 +2% Centers Onsites Work. Comp. Empl. Svcs. Cons. H
Slide 13: YTD 2024 Performance
YTD 2024 Performance Number of Locations Visits per Day Revenue per Visit 681 701 +3% 50,671 49,765 -2% $133.86 $139.45 +4% 141 154 +9% 27,668 26,263 -5% 540 547 +1% 22,075 22,565 +2% 6/30/23 6/30/24 YTD '23 YTD '24 YTD '23 YTD '24 Work. Comp. $194 $197 +2% Centers Onsites Work. Comp. Empl. Svcs. Co
Slide 14: Balance Sheet & Capital Allocation Strategy
Balance Sheet & Capital Allocation Strategy Capital Allocation Strategy Net Leverage 1 Liquidity ($mm) Leverage $500 3.9x Prudent management of leverage levels, targeting <3.0x net leverage in 24 months <3.0x M&A and De Novos Disciplined approach to enhancing footprint for short- and long-term value
Slide 15: Our Long-Term Financial Targets
Our Long-Term Financial Targets Stable Revenue Consistent Robust Free Prudent Growth Profitability with Cash Flow2 Deleveraging Dividend (Further Upside from Continued Generation Strategy De Novos and M&A) Improvement Mid-to-High 20%+ >80% < 3.0x Evaluating Single-digit growth Adjusted EBITDA Annual
Slide 16: APPENDIX
APPENDIX ©2024 Concentra Inc. All rights reserved. 16
Slide 17: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, TTM June 30, ($000's) 2024 2023 2024 2023 2024 Net Income $ 53,059 $ 54,032 $ 103,338 $ 101,463 $ 186,618 Income Tax Expense 18,096 16,593 33,233 32,759 58,361 Interest (Income) Expense (205) (17) (
Slide 18: Slide 18