Pennant Group Files Q3 2024 10-Q
Ticker: PNTG · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1766400
Sentiment: neutral
Topics: 10-Q, healthcare, financials
TL;DR
Pennant Group's Q3 2024 10-Q is in - check financials for latest performance.
AI Summary
Pennant Group, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Specific financial figures and operational metrics are provided within the report.
Why It Matters
This filing provides investors with the latest financial health and operational performance of Pennant Group, Inc. for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the healthcare sector can be subject to regulatory and reimbursement risks not detailed here.
Key Players & Entities
- Pennant Group, Inc. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241106 (date) — Date of filing
FAQ
What was Pennant Group's revenue for the nine months ended September 30, 2024?
The filing does not explicitly state the total revenue for the nine months ended September 30, 2024, but it provides data for the three and nine-month periods.
What is the company's fiscal year end?
Pennant Group, Inc.'s fiscal year ends on December 31.
What is the company's primary business sector?
Pennant Group, Inc. operates in Health Services, specifically within the 8000 SIC code.
When was this 10-Q form filed?
This 10-Q form was filed on November 6, 2024.
What is the SEC file number for Pennant Group?
The SEC file number for Pennant Group is 001-38900.
Filing Stats: 4,672 words · 19 min read · ~16 pages · Grade level 16.5 · Accepted 2024-11-06 16:14:56
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share PNTG Nasdaq Global Select Mar
Filing Documents
- pntg-20240930.htm (10-Q) — 1703KB
- ceocert-exhibit311q32024.htm (EX-31.1) — 12KB
- cfocert-exhibit312q32024.htm (EX-31.2) — 12KB
- ceocert-exhibit321q32024.htm (EX-32.1) — 10KB
- cfocert-exhibit322q32024.htm (EX-32.2) — 10KB
- 0001766400-24-000128.txt ( ) — 7909KB
- pntg-20240930.xsd (EX-101.SCH) — 47KB
- pntg-20240930_cal.xml (EX-101.CAL) — 65KB
- pntg-20240930_def.xml (EX-101.DEF) — 249KB
- pntg-20240930_lab.xml (EX-101.LAB) — 637KB
- pntg-20240930_pre.xml (EX-101.PRE) — 469KB
- pntg-20240930_htm.xml (XML) — 1170KB
Financial Information
Part I. Financial Information Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Notes to the Condensed Consolidated Financial Statements 7 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 26 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 45 Item 4.
Controls and Procedures
Controls and Procedures 45
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 46 Item 1A.
Risk Factors
Risk Factors 46 Item 6. Exhibits 47
Signatures
Signatures 48 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash $ 4,464 $ 6,059 Accounts receivable—less allowance for doubtful accounts of $ 313 and $ 259 , respectively 84,025 61,116 Prepaid expenses and other current assets 13,307 12,902 Total current assets 101,796 80,077 Property and equipment, net 41,865 28,598 Right-of-use assets 265,441 262,923 Deferred tax assets, net 245 — Restricted and other assets 12,173 9,337 Goodwill 129,337 91,014 Other indefinite-lived intangibles 95,902 67,742 Total assets $ 646,759 $ 539,691 Liabilities and equity Current liabilities: Accounts payable $ 15,888 $ 10,841 Accrued wages and related liabilities 36,565 28,256 Operating lease liabilities—current 19,113 17,122 Other accrued liabilities 19,029 15,330 Total current liabilities 90,595 71,549 Long-term operating lease liabilities—less current portion 248,907 248,596 Deferred tax liabilities, net 818 1,855 Other long-term liabilities 10,277 8,262 Long-term debt, net 108,875 63,914 Total liabilities 459,472 394,176 Commitments and contingencies Equity: Common stock, $ 0.001 par value; 100,000 shares authorized; 30,565 and 30,308 shares issued and outstanding, respectively, at September 30, 2024; and 30,297 and 29,948 shares issued and outstanding, respectively, at December 31, 2023 31 29 Additional paid-in capital 117,947 105,712 Retained earnings 51,464 34,663 Treasury stock, at cost, 3 shares at September 30, 2024 and December 31, 2023 ( 65 ) ( 65 ) Total The Pennant Group, Inc. stockholders' equity 169,377 140,339 Noncontrolling interest 17,910 5,176 Total equity 187,287 145,515 Total liabilities and equity $ 646,759 $ 539,691 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents THE PENNANT GROUP, INC. CONDENSED CONSOLID