The Pennant Group (PNTG) Q4 2025 earnings summary

Executive summary

• Achieved record-breaking 2025 performance with adjusted EPS of $1.18, exceeding guidance midpoint, and strategic expansion across all segments.

• Integrated new operations, expanded in the Southeast, and completed major acquisitions, including Signature Healthcare at Home and over 50 locations from UnitedHealth and Amedisys.

• Focused on leadership development, clinical excellence, employee experience, margin improvement, and growth.

• Operational excellence and integration of new assets are key 2026 priorities.

Financial highlights

• Full-year 2025 revenue reached $947.7 million, up 36.3% year-over-year; Q4 revenue was $289.3 million, up 53.2%.

• Adjusted EBITDA for 2025 was $72.5 million, up 36%; Q4 adjusted EBITDA was $22.4 million, up 62.5%.

• Adjusted EPS for 2025 was $1.18; Q4 adjusted EPS was $0.34.

• Net income for 2025 was $29.6 million, up 31.1%; Q4 net income was $8.6 million, up 50%.

• Q4 cash flow from operations was $21 million; year-end cash $17 million.

Outlook and guidance

• 2026 revenue guidance: $1.13–$1.17 billion (+22.4% at midpoint).

• 2026 adjusted EBITDA guidance: $88.5–$94.1 million (+26% at midpoint).

• 2026 adjusted EPS guidance: $1.26–$1.36 (midpoint $1.31).

• Guidance reflects ramp-up from recent acquisitions and ongoing integration, excluding unannounced acquisitions.

• Same-store home health and hospice revenue growth of ~7% embedded in 2026 model.