The Pennant Group saw total revenue of $110.3 million for the second quarter, an increase of $17.6 million or 19% over the prior year quarter, the company reported in Tuesday’s earnings call.
The company’s senior living services segment revenue for the quarter was $32.2 million, an increase of $1.2 million over the first quarter 2021, and segment adjusted EBITDAR from operations in the quarter was $9.8 million, an increase of $1 million over the first quarter 2021.
“We are not happy with where we’re at currently, and we’re acting with urgency to continue to recover from the pandemic effects in our senior living business and deliver on a stronger second half of the year, and position ourselves to achieve even stronger results in 2022 and beyond without many of the distractions that have weighed on and occupied our time over the past two years,” Pennant’s CEO Daniel H. Walker said.
The company grew its operations in the second quarter through the acquisition of two home health and two home care agencies in southwest Colorado, one home health agency in Ft. Worth, Texas, and a hospice agency in northern California.
“With our strong balance sheet, leadership pipeline and inherent opportunity in our transitioning operations, we are well positioned for continued growth that matches our historical trends,” Chief Investment Officer Jennifer Freeman stated in a press release Monday in conjunction with the earnings call.
See more coverage of the earnings call by McKnight’s Senior Living.
