Concentra Group Holdings Parent, Inc. Announces Results for Its First Quarter Ended March 31, 2026, Cash Dividend, and Raised FY 2026 Guidance

About this update from Concentra Group Holdings Parent, Inc.

ADDISON, Texas, May 07, 2026 --( BUSINESS WIRE )--Concentra Group Holdings Parent, Inc. ("Concentra," the "Company," "we," "us," or "our") (NYSE: CON), the nation’s largest provider of occupational health services by number of locations, today announced results for its first quarter ended March 31, 2026, the declaration of a cash dividend, and raised guidance for full year 2026. "Our strong start to 2026 is a testament to the trust our clients place in us to care for their most valuable asset: their people," said Keith Newton, Chief Executive Officer of Concentra. "The meaningful growth in visit volumes we saw this quarter demonstrates that our clinical model and value proposition continue to lead in workers' compensation. Building on our exceptional operational and financial performance, we remain focused on achieving key strategic objectives and positioning Concentra to deliver long-term shareholder value." Matt DiCanio, Concentra’s President and Chief Financial Officer, added, "Our Q1 results demonstrate the inherent strength of our operating model, with broad-based growth across our business supporting our decision to raise our full-year guidance. Beyond the balance sheet, we are focused on disciplined execution of our de novo pipeline and are on track to complete our transition from Select Medical Corporation in the coming months. As an independent company, we are optimizing our operational platform and infrastructure to drive sustained excellence and capitalize on our unique position as a leading health partner for the American workforce." First Quarter 2026 Highlights For the first quarter ended March 31, 2026: The definition of Adjusted EBITDA and a reconciliation of net income to Adjusted EBITDA are presented in table VII of this release. The definition of Adjusted Earnings per Share and a reconciliation of net income attributable to the Company and earnings per share on a fully diluted basis to Adjusted Net Income Attributable to the Company and Adjusted Earnings per Share on a fully diluted basis are presented in table VIII of this release. The definition of Free Cash Flow and a reconciliation of net cash provided by operating activities to Free Cash Flow are presented in table IX of this release. Balance Sheet As of March 31, 2026, our balance sheet reflected cash of $61.7 million, total debt of $1,576.1 million and total assets of $2,889.8 million. Concentra’s net leverage ratio as of March 31, 2026, was 3.4x, which was in compliance with the financial covenant under our credit agreement. Cash Flow Cash flows provided by operating activities in the first quarter ended March 31, 2026, totaled $21.0 million compared to $11.7 million for the same quarter of the prior year. The increase in year over year cash flow from operations resulted from higher earnings in 2026. During the first quarter ended March 31, 2026, cash flow from investing activities resulted in cash used of $14.8 million, including capital expenditures of $11.1 million. Concentra had positive Free Cash Flow of $9.9 million in the first quarter ended March 31, 2026, compared to negative Free Cash Flow of $4.0 million for the same quarter of the prior year. Cash flow from financing activities used $24.4 million for the quarter, driven primarily by $15.0 million in repurchases of shares of common stock and $8.0 million in dividend payments. This resulted in a net decrease in cash of $18.2 million for the quarter. Dividend On May 5, 2026, the Board of Directors declared a cash dividend of $0.0625 per share. The dividend will be payable on or about June 9, 2026, to stockholders of record as of the close of business on May 19, 2026. There is no assurance that future dividends will be declared. The declaration and payment of dividends in the future are at the discretion of the Board of Directors after taking various factors into account, including, but not limited to, the Company’s financial condition, operating results, available cash and current and anticipated cash needs, the terms of indebtedness, and other factors the Board of Directors may deem to be relevant. 2026 Business Outlook Concentra raised its financial guidance for 2026. We now expect to deliver the following results: A reconciliation of full year 2026 Adjusted EBITDA expectations to net income is presented in table X of this release. A reconciliation of full year 2026 Free Cash Flow expectations to net cash provided by operating activities is presented in table XI of this release. Company Overview Concentra is the largest provider of occupational health services in the United States by number of locations, with the mission of improving the health of America’s workforce, one patient at a time. Our approximately 13,000 colleagues and affiliated physicians and clinicians support the delivery of an extensive suite of services, including occupational and consumer health services and other direct-to-employer care. We support the care of approximately 54,000 patients each business day on average across 47 states and the District of Columbia at our 632 occupational health centers, 411 onsite health clinics at employer worksites, and Concentra Telemed as of March 31, 2026. Conference Call Concentra will host a conference call regarding its first quarter financial results and business outlook on Friday, May 8, 2026, at 9 a.m. Eastern Time. The conference call will be a live webcast and can be accessed via this Earnings Call Webcast Link or via Concentra’s website at https://ir.concentra.com . A replay of the webcast will be available shortly after the call at the same locations. Participants may join the audio-only version of the webcast or participate in the question-and-answer session by calling: Toll Free: 888-506-0062 International: 973-528-0011 Participant Access: All dial-in participants should ask to join the Concentra call. Certain statements contained herein that are not descriptions of historical facts are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), including statements related to Concentra’s 2026 and long-term business outlook. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements due to factors including the following: Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, we are under no obligation to publicly update or revise any forward-looking statements, whether as a result of any new information, future events, or otherwise. You should not place undue reliance on our forward-looking statements. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee future results or performance. I. Condensed Consolidated Statements of Operations For the Three Months Ended March 31, 2026, and 2025 (In thousands, except per share amounts, unaudited) II. Earnings per Share For the Three Months Ended March 31, 2026, and 2025 (In thousands, except per share amounts, unaudited) As of March 31, 2026, and 2025, the Company’s capital structure consists of common stock and unvested restricted stock. To calculate earnings per share ("EPS") for the three months ended March 31, 2026, and 2025, the Company applied the two-class method because its unvested restricted shares were participating securities. The following table sets forth the net income attributable to the Company, its shares, and its participating shares: The following table sets forth the computation of EPS under the two-class method: III. Condensed Consolidated Balance Sheets (In thousands, except par value and share data, unaudited) IV. Condensed Consolidated Statements of Cash Flows For the Three Months Ended March 31, 2026, and 2025 (In thousands, unaudited) V. Disaggregated Revenue For the Three Months Ended March 31, 2026, and 2025 (In thousands, unaudited) The following table disaggregates the Company’s revenue: VI. Key Statistics For the Three Months Ended March 31, 2026, and 2025 The following table sets forth facility counts for our occupational health centers and onsite health clinics operating segments for the periods presented: The following table sets forth operating statistics for our occupational health centers operating segment for the periods presented: VII. Net Income to Adjusted EBITDA Reconciliation For the Three Months Ended March 31, 2026, and 2025 (In thousands, unaudited) Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures that we believe provide useful insight into the underlying performance of our business by excluding items that may obscure trends in our core operating results. These metrics are not intended to be substitutes for U.S. GAAP measures such as net income and net income margin, and may differ from similarly titled metrics supported by other companies. We use these non-GAAP measures internally for budgeting, forecasting, and evaluating performance. Investors should consider these measures in addition to, and not as a replacement for, U.S. GAAP results reported in our financial statements. Adjusted EBITDA is a supplemental measure that we believe offers useful insight into the Company’s business performance by excluding items that do not reflect the core operations of the Company. We define Adjusted EBITDA as net income before interest, income taxes, depreciation and amortization, stock compensation expense, acquisition related costs, gains or losses on early retirement of debt, and separation transaction costs. We define Adjusted EBITDA margin as Adjusted EBITDA divided by total revenue. Adjusted EBITDA margin is a supplemental measure that we believe helps assess the efficiency of our operations on a normalized basis. The following table reconciles net income to Adjusted EBITDA and net income margin to Adjusted EBITDA margin and should be referenced when we discuss Adjusted EBITDA and Adjusted EBITDA margin. VIII. Earnings per Share to Adjusted Earnings per Share Reconciliation For the Three Months Ended March 31, 2026, and 2025 (In thousands, except per share amounts, unaudited) Adjusted Net Income Attributable to the Company and Adjusted Earnings per Share are used by management to provide useful insight into the underlying performance of our business. Adjusted Net Income Attributable to the Company and Adjusted Earnings per Share are not measures of financial performance under U.S. GAAP and are not intended to be substitutes for U.S. GAAP measures such as net income attributable to the Company or earnings per share. These metrics may differ from similarly titled metrics supported by other companies. We believe that the presentation of Adjusted Net Income Attributable to the Company and Adjusted Earnings per Share are important to investors because they are reflective of the financial performance of Concentra’s ongoing operations and provide better comparability of its results of operations between periods. Investors should consider these measures in addition to, and not as a replacement for, U.S. GAAP results reported in our financial statements. We define Adjusted Net Income Attributable to the Company as net income attributable to the Company, excluding gain (loss) on early retirement of debt, separation transaction costs, and acquisition costs, all on an after tax basis. We define Adjusted Earnings per Share as the Adjusted Net Income Attributable to the Company divided by the diluted weighted average shares outstanding. The following table reconciles net income attributable to the Company and earnings per share on a fully diluted basis to Adjusted Net Income Attributable to the Company and Adjusted Earnings per Share on a fully diluted basis. IX. Net Cash Provided by Operating Activities to Free Cash Flow Reconciliation For the Three Months ended March 31, 2026, and 2025 (In thousands, unaudited) Free Cash Flow is used by management to provide useful insight into the underlying performance of our business. Free Cash Flow is not a measure of financial performance under U.S. GAAP and is not intended to be a substitute for U.S. GAAP measures, such as net cash provided by operating activities. This metric may differ from similarly titled metrics supported by other companies. We believe that the presentation of Free Cash Flow is important to investors because it is reflective of the financial performance and cash flows of Concentra’s ongoing operations and provides a better comparability of its cash flows between periods. Investors should consider these measures in addition to, and not as a replacement for, U.S. GAAP results reporting in our financial statements. We define Free Cash Flow as net cash provided by operating activities less net cash used in investing activities, excluding business combinations, net of cash acquired. The following table reconciles net cash provided by operating activities to Free Cash Flow. X. 2026 Net Income to Adjusted EBITDA Reconciliation Business Outlook for the Year Ending December 31, 2026 (In millions, unaudited) The following is a reconciliation of full year 2026 Adjusted EBITDA expectations as computed at the low and high points of the range to the closest comparable U.S. GAAP financial measure. Refer to table VII for discussion of Concentra’s use of Adjusted EBITDA in evaluating financial performance and for the definition of Adjusted EBITDA. Each item presented in the below table is an estimation of full year 2026 expectations. XI. 2026 Net Cash Provided by Operating Activities to Free Cash Flow Reconciliation Business Outlook for the Year Ending December 31, 2026 (In millions, unaudited) The following is a reconciliation of full year 2026 Free Cash Flow expectations as computed at the low and high points of the range to the closest comparable U.S. GAAP financial measure. Refer to table IX for discussion of Concentra’s use of Free Cash Flow in evaluating financial performance and for the definition of Free Cash Flow. Each item presented in the below table is an estimation of full year 2026 expectations.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260507528273/en/ Contacts Investor inquiries: Bill Chapman Vice President, Strategy & Investor Relations 972-725-6488 [email protected]

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