PACS Group Inc

PACS

Equity

ISIN US69380Q1076 / Valor 133777092

New York Stock Exchange, Inc (2024-09-16)

USD 40.97+0.61%

PACS Group Inc
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About company

PACS Group, Inc. (PACS) is a holding company that has significantly expanded its footprint in the healthcare sector, specifically focusing on the post-acute care industry since its inception in 2013. Starting with just two skilled nursing facilities, PACS has grown into a substantial network, now encompassing over 200 facilities across nine states. The company's growth strategy involves investing in post-acute care facilities, healthcare professionals, and ancillary services to provide comprehensive care. PACS emphasizes a model that combines the benefits of a national support network with the autonomy of local decision-making in its operations. As of now, PACS and its affiliates manage 218 facilities, employing over 32,000 staff members, and cater to the daily needs of more than 20,000 patients and residents. This expansion reflects PACS's commitment to delivering mission-driven care and addressing the growing demand for post-acute healthcare services in the United States.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

PACS Group Inc. reported a significant increase in revenue for the first quarter of 2024, with consolidated GAAP revenue reaching $934.7 million. This represents a 31.9% increase over the same quarter in the previous year, driven by both an increase in occupancy rates and the addition of new facilities.

Net Income and Earnings Per Share

For the first quarter of 2024, PACS Group Inc. achieved a net income of $49.1 million, which is a 30.7% increase compared to the first quarter of the previous year. The GAAP earnings per share also rose by 31.0% to $0.38, reflecting the company's strong financial performance and operational efficiency.

Adjusted EBITDA and EBITDAR

The company's EBITDA for the first quarter of 2024 stood at $96.3 million, showing a 47.0% increase from the previous year. Adjusted EBITDA was reported at $88.5 million, up by 34.0%, and Adjusted EBITDAR reached $152.5 million, highlighting effective cost management and operational improvements.

Operational Highlights

During the first quarter of 2024, PACS Group Inc. maintained a strong operational performance with an occupancy rate of 91.1%. The company also expanded its portfolio by adding 10 new operating facilities, which included 1,334 skilled nursing and 174 assisted living beds, enhancing its service capacity and market reach.

Future Outlook

Looking ahead to the full year of 2024, PACS Group Inc. has provided a revenue guidance of between $3.65 billion to $3.75 billion and an Adjusted EBITDA forecast of $351 million to $361 million. This outlook is based on the company's current operations and market conditions as of May 13, 2024, reflecting confidence in continued growth and operational success.

Summarized from source with an LLMView Source

Key figures

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Performance

46.4%1Y

46.4%3Y

46.4%5Y

Volatility