Senior living provider The Pennant Group (NASDAQ: PNTG) will be reporting earnings this Wednesday after market hours. Here’s what to expect.
The Pennant Group beat analysts’ revenue expectations last quarter, reporting revenues of $283.5 million, up 35.7% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is The Pennant Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting The Pennant Group’s revenue to grow 33% year on year, improving from the 30.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. The Pennant Group has a history of exceeding Wall Street’s expectations.
Looking at The Pennant Group’s peers in the senior health, home health & hospice segment, some have already reported their Q2 results, giving us a hint as to what we can expect. BrightSpring Health Services delivered year-on-year revenue growth of 23%, beating analysts’ expectations by 5.9%, and Chemed reported revenues up 8.8%, topping estimates by 1.2%. BrightSpring Health Services traded down 17.1% following the results while Chemed was up 4.2%.
Read our full analysis of BrightSpring Health Services’s results here and Chemed’s results here.
Investors in the senior health, home health & hospice segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. The Pennant Group’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $45 (compared to the current share price of $40.21).
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