a healthcare worker helping an older adult get out of or into a wheelchair

The Pennant Group told analysts Friday the company’s home health and hospice units should continue to outperform its beleaguered senior living segment over the next several months. 

On Thursday the company disappointed Wall Street, reporting earnings per diluted share of $.11 compared to $.16 cents during the same period in 2020. The Eagle, ID-based company posted $105.66 million in revenues for the quarter, a $13.8 million increase from the previous year, that was helped by strength in home health and hospice.

“Although we are not satisfied with the quarter, we know our results tend to be cyclical. We anticipated  pandemic-related challenges in the first two quarters would likely cause lumpiness,” said Daniel Walker, The Pennant Group’s CEO.

The pandemic wasn’t the only problem for The Pennant Group in the quarter. Winter storms forced the relocation of residents in some Texas senior living facilities and caused disruptions in the company’s home health business.

“In general it was disruptive in terms of missing visits, staff needing to hand things off and overtime,” said Walker.

Walker called the quarter the most challenging period in the company’s history.  But despite that, he predicted the company will still meet earlier guidance of revenues between $430 million and $440 million.

The Pennant Group operates senior facilities and provides home health and hospice services in 15 states.

For more coverage of the earnings call, see McKnight’s Senior Living.