PACS Group Q1 net income $49.1M (+31% YoY), rev $934.7M (+32%); guides FY adj EBITDA $351-361M

PACS Group, Inc.

2024-Q1 EPS reported $0.38 revenue$934,721,000

GAAP net income $49.1M (+31% YoY), GAAP EPS $0.38 (+31%); revenue $934.7M (+32% YoY).
Adjusted EBITDA $88.5M (+34% YoY); adjusted EBITDAR $152.5M.
Total facilities occupancy 91.1%; Medicare daily rate up 11%, Medicaid up 5.3% vs prior year Q1.
Added 10 operating facilities in Q1 (1,334 skilled nursing, 174 assisted living beds); total operated facilities 218.
FY2024 guidance: revenue $3.65-3.75B, adjusted EBITDA $351-361M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PACS Group, Inc. reported first quarter of 2024 results: revenue $934.7 million, net income $49.1 million, EPS $0.38. Guidance reaffirmed.

Period: first quarter of 2024
Revenue: $934.7 million
Net income: $49.1 million
EPS: $0.38
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of 31.0% over the prior year quarter. • GAAP net income was $49.1 million, an increase of 30.7 % over the prior year quarter. • Consolidated GAAP revenue for the quarter was $934.7 million, an increase of 31.9% over the prior year quarter. • EBITDA and Adjusted EBITDA for the quarter was $96.3 million and $88.5 million, representing increases of 47.0% and 34.0%,

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