Pennant Group Files 10-Q for Q2 2024
Ticker: PNTG · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1766400
Sentiment: neutral
Topics: 10-Q, financials, healthcare
TL;DR
**Pennant Group Q2 10-Q filed. Financials and operations updated.**
AI Summary
Pennant Group, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors are presented.
Why It Matters
This filing provides investors with the latest financial health and operational performance of Pennant Group, Inc., crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information and disclosures that can impact investment decisions, carrying inherent risks.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20240806 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Pennant Group, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240806 (date) — Filing date
FAQ
What is the primary business of Pennant Group, Inc.?
Pennant Group, Inc. operates in the Health Services sector, specifically within home health and hospice services.
What is the fiscal year end for Pennant Group, Inc.?
The fiscal year end for Pennant Group, Inc. is December 31st.
What is the SEC file number for Pennant Group, Inc.?
The SEC file number for Pennant Group, Inc. is 001-38900.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending June 30, 2024.
Where is Pennant Group, Inc. headquartered?
Pennant Group, Inc. is headquartered at 1675 E. Riverside Drive, Suite 150, Eagle, ID 83616.
Filing Stats: 4,646 words · 19 min read · ~15 pages · Grade level 16 · Accepted 2024-08-06 16:09:10
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share PNTG Nasdaq Global Select Mar
Filing Documents
- pntg-20240630.htm (10-Q) — 1636KB
- ceocert-exhibit311q22024.htm (EX-31.1) — 12KB
- cfocert-exhibit312q22024.htm (EX-31.2) — 12KB
- ceocert-exhibit321q22024.htm (EX-32.1) — 10KB
- cfocert-exhibit322q22024.htm (EX-32.2) — 10KB
- 0001766400-24-000096.txt ( ) — 7653KB
- pntg-20240630.xsd (EX-101.SCH) — 45KB
- pntg-20240630_cal.xml (EX-101.CAL) — 65KB
- pntg-20240630_def.xml (EX-101.DEF) — 239KB
- pntg-20240630_lab.xml (EX-101.LAB) — 621KB
- pntg-20240630_pre.xml (EX-101.PRE) — 455KB
- pntg-20240630_htm.xml (XML) — 1135KB
Financial Information
Part I. Financial Information Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Income for the three and six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 4 Notes to the Condensed Consolidated Financial Statements 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.
Controls and Procedures
Controls and Procedures 43
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 44 Item 1A.
Risk Factors
Risk Factors 44 Item 6. Exhibits 45
Signatures
Signatures 46 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item I. Financial Statements THE PENNANT GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands, except par value) June 30, 2024 December 31, 2023 Assets Current assets: Cash $ 3,043 $ 6,059 Accounts receivable—less allowance for doubtful accounts of $ 253 and $ 259 , respectively 76,089 61,116 Prepaid expenses and other current assets 14,981 12,902 Total current assets 94,113 80,077 Property and equipment, net 40,905 28,598 Right-of-use assets 267,353 262,923 Deferred tax assets, net 114 — Restricted and other assets 11,953 9,337 Goodwill 110,487 91,014 Other indefinite-lived intangibles 77,542 67,742 Total assets $ 602,467 $ 539,691 Liabilities and equity Current liabilities: Accounts payable $ 15,392 $ 10,841 Accrued wages and related liabilities 30,601 28,256 Operating lease liabilities—current 18,473 17,122 Other accrued liabilities 19,223 15,330 Total current liabilities 83,689 71,549 Long-term operating lease liabilities—less current portion 251,613 248,596 Deferred tax liabilities. net 1,336 1,855 Other long-term liabilities 10,662 8,262 Long-term debt, net 82,174 63,914 Total liabilities 429,474 394,176 Commitments and contingencies Equity: Common stock, $ 0.001 par value; 100,000 shares authorized; 30,493 and 30,150 shares issued and outstanding, respectively, at June 30, 2024; and 30,297 and 29,948 shares issued and outstanding, respectively, at December 31, 2023 30 29 Additional paid-in capital 110,311 105,712 Retained earnings 45,259 34,663 Treasury stock, at cost, 3 shares at June 30, 2024 and December 31, 2023 ( 65 ) ( 65 ) Total The Pennant Group, Inc. stockholders' equity 155,535 140,339 Noncontrolling interest 17,458 5,176 Total equity 172,993 145,515 Total liabilities and equity $ 602,467 $ 539,691 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents THE PENNANT GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS