earnings
confidence high
sentiment positive
materiality 0.75
PACS Group Q2 revenue $981.8M (+29% YoY); GAAP net loss $10.9M on $90.9M IPO stock comp; raises FY2024 guidance
PACS Group, Inc.
2024-Q2 EPS reported
$0.27
revenue$1,916,567,000
- GAAP net loss of $10.9M for Q2 2024 due to $90.9M stock-based compensation from IPO RSU grants.
- Revenue $981.8M, up 29% YoY and 5% sequentially; patient days grew 24.8% YoY.
- Adjusted EBITDA $99.7M in Q2; full-year guidance raised to revenue $3.85-3.95B and Adj. EBITDA $370-380M.
- Occupancy 91.0%; average Medicare daily rate up 9.5% and Medicaid up 3.5% YoY.
- Added 28 facilities post-Q2, now operating 248 facilities across 13 states; real estate assets owned/through JV total 87.