Pennant pre-announces weak Q3; cuts FY2021 adj. revenue and EPS guidance

Pennant Group, Inc.

2021-Q3 EPS reported $0.16 revenue$327,929,000

Preliminary Q3 adj. revenue $111.9M; net income $1.2M (diluted EPS $0.04); adj. EPS $0.11.
Home health & hospice rev. $79.0M (+22.7% YoY); senior living rev. $32.9M (-3.2% YoY).
Senior living occupancy 73.7%, down 3.1% YoY; home health admissions fell 8.5% QoQ.
FY2021 guidance cut to adj. revenue $425-430M (from prior) and adj. EPS $0.53-0.57.
Delta variant surge and labor challenges disrupted Q3 momentum; expects lingering Q4 impact.

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