Shares of PACS Group, Inc. (NASDAQ:PACS) are buying and selling greater Thursday after the healthcare firm reported better-than-expected third-quarter outcomes.
What To Know: The corporate introduced in roughly $1.35 billion in income, beating market expectations of $975.65 million. PACS Group reported earnings per share of 32 cents, which was decrease than the market expectation of 33 cents.
Shares have been up greater than 55% on the time of writing, in line with Benzinga Professional.
PACS’s year-to-date income was $3.93 billion, a rise of 36.4% year-over-year. The corporate highlighted that 68% of its expert nursing portfolio obtained a four- or five-star CMS High quality Measure Star ranking as mature amenities occupancy got here in at 94.8%, in comparison with an trade common of 79%.
The corporate additionally ended the quarter with additional cash available than it had in December of final 12 months, reporting $355.7 million of money and money equivalents.
PACS offered steerage for full-year 2025, saying it expects income to be within the vary of $5.25 billion to $5.35 billion and adjusted EBITDA to be within the vary of $480 million to $490 million.
“Since its founding, PACS has been targeted on its mission to revolutionize the supply, management, and high quality of post-acute care nationally. Our sturdy third quarter and year-to-date outcomes reveal the underlying power of our enterprise mannequin and the relentless execution of our workforce to ship on our mission,” mentioned Jason Murray, PACS’s CEO.
Following the print, RBC Capital maintained an Outperform ranking on PACS Group and raised its worth goal to $33.
PACS Value Motion: PACS Group shares have been up 56.06%, buying and selling at $26.29 finally verify, in line with Benzinga Professional.
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