PNTG - Earnings call transcript Q4 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and thank you for standing by. Welcome to The Pennant Group Fourth Quarter 2024 Earnings Call. [Operator Instructions]. Please be advised that today's conference is being recorded.

to Kirk conference Cheney. like first to now today, speaker would hand over the your I Please ahead. go

Kirk Cheney

Thank you, Marvin. joining us Welcome, everyone, and thank today. you for

CEO; and Here Gochnour, our me today, have Guerisoli, with I CFO. our and COO; our President Lynette Walborn, Brent John

statements release I on press also the at section our XX-K we Investor our XXXX. begin, matters. www.pennantgroup.com. anyone filed business operate. announcement on Also, management's our to website Mountain replay on We p.m. made February beliefs website of are will available will of a updated Relations based be who have Before after yesterday. this statements any A a about housekeeping and This today few We our X:XX earnings want February made and available are call environment remind on to replay which as is all be of the until may this Time of forward-looking call XX, these XX, statements not current today's listening we be call. assumptions in that today, and expectations, and XXXX,

for or its reliance These reason. on should are not statements risks and could expressed from changing results. do forward-looking as actual results any our a or call. uncertainties today's securities Except and arise where any to encouraged that on Pennant required or undue changes SEC future our new factors to impact forward-looking materially review federal of other are events, to statements affiliates statements publicly revise not circumstances discussion complete from to those laws, information, undertake update by could place cause Listeners differ for more that subject our implied and filings

Inc. administrative of its Words such through Group, us other Inc. provide our independent Pennant, with a the our services or relationships and In subsidiaries, consolidated Certain Group, revenues. no with The to subsidiaries. direct contractual addition, referred we, service operating subsidiaries. company referred center, collectively subsidiaries operating support as the and to assets, employees to The holding Pennant company, Pennant is

the our All and their of are service own separate independent center that operating subsidiaries operated have management, employees and assets. companies by

References herein similar as are Pennant us, as that do subsidiaries to Group. not activities use The assets well we, the its terms any company our of and of the by consolidated terms operated the and and imply directly the

they relied our more provide believe Also, reporting we can GAAP with viewed upon metrics. XX-K. with is measures of that yesterday's press we GAAP GAAP in non-GAAP complete the When a is together our exclusion release A in to be available GAAP available should these not non-GAAP business, but of understanding and our supplement our reconciliation results, to reports.

with CEO. call Brent And over our Guerisoli, turn Brent? that, to I'll the

Brent Guerisoli

This our everyone, residents been of local year fourth and teams to a and and Kirk, day. XXXX patients leaders earnings the welcome, dedication Pennant, for remarkable Thanks, who has our call. for quarter our care thanks each and to

do We to grateful everything life-changing you are for provide service. so

performance. results to fourth year record-breaking conclude announce We are quarter a pleased of strong to

of share per exceeds per full of guidance of earnings $X.XX adjusted to XXXX adjusted $X.XX. earnings QX midpoint $X.XX, Our share contribute year earnings updated our which

raised we XXXX. reminder, a during twice As guidance

prior $XX.X or million $XX.X million, results the million, increase of improvement EBITDA of XX.X% include year or consolidated an of the year. over million year full revenue prior Our adjusted $XXX.X $XXX.X over and an XX.X% of

Hartford now as Area, expansion we Healthcare which the for future which eventful in transformative is the in Connecticut, a Pennant. agreement year successfully Muir Bay was contributing in foundational partnerships, venture XXXX United a States. an Eastern positively to including management relationship and results, view transitioned John with our a launched joint and Health We with for

Healthcare Signature acquisitions, hospice and purchase Northwest. health of health large of and home hospice provider strategic numerous Pacific in a completed services the million the at We Home, including home $XX

We opportunistic credit portfolio. and expanded facility future. We this, Through a the to follow-on of added and acquisitions key same-store completing to strengthened to our estate our us will in our attractive our growth assets and equity lead real senior to enable living additional offering. upsizing continue add also heights we by individuals all who made capital significantly operations structure new

these XXXX, leadership initiatives: The the important year. We've X excellence, in areas. Throughout made the in to growth. experience, other each drives key which we and leadership on be margin most continues clinical remain performance initiative X of development, employee areas progress focused development, ultimately effectively during

leadership developing success. a is paramount believe and for company, that attracting and leaders talented As we growth

we reason, invest in leadership our this continue meaningfully to programs. For development

our XXXX, but we recruiting leadership year. designations continued to We a leaders CEO C-level leaders, added earned clinical in XX not also participants. training XX the launched designations operations, and only included In in the leaders XX achieved training XX leaders development record local in in and and new C-level local program of program in who numbers were local that including CEOs. developing successful total, of existing Notably, their

we've with explained earnings cultural designation the executive outcomes. earn creating they higher generate value. true CEOs directors, and and our cultural this financial, typically along clinical better before, behaving As than process, as clinical owners annual In leaders and by and other C-level non-CEO

to about excited progress year, made upon the build we've XXXX. are and expect Following throughout we a it monumental significant

growth. and the to on capital flow We are have also effectively bench focused newly and acquisitional and substantial operations deal transitioning strength, support acquired quickly

We across markets existing continue to beyond. our opportunities potential entertain and numerous

Turning to guidance. XXXX

anticipate full $XXX providing to $X.XX. million and the to range guidance our $XXX XXXX and growth in range the As $X.XX over of of of the growth on midpoint represents XXXX year. we adjusted results. share XX.X% adjusted in in $X.XX we earnings per announced our million yesterday, press revenue release our The earnings XX.X% We full year are for

to operations. significant acquired recently the guidance to local inorganic organic quarterly, XXXX in our and ramp Our is momentum we operations. annual, the the The based reflects continue in expect and compelling is leaders year, guidance anticipated drive on and growth of existing transition segments, readiness as we upside throughout the number not our of both particularly an to our unlock it a significant

that, the over quarter With provide detail to results. our John more call fourth I'll operational to on turn

John Gochnour

Brent, morning, pleased quarter. Thank XXXX throughout that business to fourth strength everyone. of segments I'm and the in report characterized good the you, has that our both continued

over full for strong or Turning revenue $XX.X $XXX.X represented an EBITDA million line of adjusted $XXX over reflected million XX.X% Hospice the first million, increased million, to of increased to million or or quarter to $XX.X year the a and $XXX Earnings year, over $XX.X increase quarter. Top growth year, improvement adjusted year increase and a the while similarly our million over XX.X% for prior $X.X $XX.X of quarter million, the segment. or prior as EBITDA Home prior fourth the increased Health increase revenue million, prior XX.X% year the XX.X% quarter.

Both outstanding strong our and local effective staff, teams by partnerships differentiated grew built our attracted the offering home health and rapidly hospice clinical themselves clinical businesses community. to as solutions

each X.X%, X,XXX, to year Medicare a and increase revenue increased XX.X% hit of grew our transitions new XX.X%. year same-store admissions admissions admissions health operations prior of by XX.X% driven grew episode XX,XXX, and same-store X.X%, quarter. increase the Medicare in each was quarter. an existing of increased record over Medicare portfolio momentum ongoing new per high and our a an the in strong growth prior over Home overall admissions This as

XX.X% In per our as admissions continue over At year increased revenue of same-store revenue meet our in operations, serve. our the resulting X,XXX hospice operations, of even the programs ADC the our as quarter. XX.X% hospice to grew the admissions ADC X.X% needs XX.X% increase growth hospice grew increased represents X.X% ADC and over by communities and each episode strong growth quarter. ADC quarter consecutive to each X,XXX, the year ninth they prior hospice to This prior decreased

attribute above. the clinical much rating or of stars business outperformance real-time leaders' evidenced We that local outcomes, a by have of quality X our hospice fact of and of XX% to our home health focus the star relentless on agencies our

reported is of better than Our X.X%. basis average average X.X, national star CMS of preventable reported of potentially the X.X exceeds XXX and our the national hospitalization points X.X% of rating CMS significantly average rate

of outcomes, the CMS' result benefit poised in of XXXX health are strong a expansion from to we program. As our purchasing clinical home value-based

XX.X%, we the past have improved basis experience adjusted XX could record in from resulted operating as calls, growth our margin to Home year-over-year the described we contributed margin of potential acquire often Despite points in Hospice adjusted segment's we Health acquisitional positively lumpiness which $XX.X that million. assets. and As our EBITDA transition underperforming have pressure and to EBITDA increase XXXX, margin in

fourth the this cap In despite improvement million. quarter $X.X hospice achieved in an expense of atypical addition, we

increased XX.X%. our EBITDA Excluding margin adjusted this would to expense, fourth have XX.X% quarter from

the efficiency through and number improved dollar create drive in completed XXXX, technology latent ongoing to whole of in to unlock potential are and value significant for additional management, poised With acquisitions and improvement margin XXXX. we XXXX efforts and

million of prior revenue fourth as Living XX.X% million, results its $XX.X million segment over opportunities. quarter, living year or ascent the acquisition increase business an we continued quarter. the operational $X.X XX% prior over or of the taking also senior improved $XX.X in favorable Our while year million and increase advantage $XXX.X improved Senior a to

year $X.X and the million $XX.X or segment million $X.X for million adjusted quarter, over Living increase the year prior prior quarter. XX.X% million, increase an Senior Full year of to the XX.X% or EBITDA $X.X fourth over a improved

year, basis the On XX.X%. to XX points occupancy rose

focused over have and drive year the revenue to including which climbed X.X% we have on of improved increase the XXX per of an we continued and or quarter, quality in room $X,XXX both to prior revenue, room, level quarter. occupied fourth As care, of board average

be On in momentum sheet entered the in of long-term the opportunistic we development units the balance long-term well X acquisitions Pennant into attractive reflect completed and accretive the leadership well to buildings ready upside. fourth our into and experienced our approach the to growth senior have In of the Bay and and leaders Area markets in our we with implement we net in, positioned Wisconsin, performed living to are gate to embrace our additional step investment our program, of portfolio short- significant Green bringing take are to positioned to These our for health communities and both this operations senior the leases disciplined results. with companies geographically well and triple portfolio. clusters model quarter, living segments. in transactions rents acquisitions year, XXX and healthy ready out front, the These proximate advantage through growth

are X, on XXXX, operations, contributing end, of we the X-stage which on completes assets, Oregon January anticipate transitioning Home, results, Oregon transaction. to which trajectory and purchase quarter at and well X, After we a the our and we purchased Healthcare on August operations. Idaho the Washington closed Signature for similar The positively

company We Signature pursued that was strong we strategic a this culture aligned because and quality deal Pennant. exceptionally clinicians, leaders with with talented footprint well a whose knew

has confirmed experience Our expectations. those

Idaho We and can C-level partners are operating excited create in unique that as future in Washington bright our Oregon, the tenant Signature the model. we for leaders become

On predetermined each through February Texas, in XXXX, estate option long-term portfolio senior X, our in transformation. to way lease. an X purchase net living we lease X value estate additional fast-growing real deals, our making real closed the Idaho attractive the XX the at The it units area. portfolio triple create to we an under acquisition X a as provides to add an adds a operational The Idaho underlying in to Boise and price,

Kirbyville our that Class portfolio. care. continuum attractive centers opportunities are significantly buildings our Texas, living agencies, in A to population acquisitions tenant with build creating add home of units senior to Tomball, The health and hospice and These in overlap XXX growing unique

the With to financials. a it over for that, Lynette of I'll review hand Lynette?

Lynette Walbom

good John, XXXX, our full and results everyone. months XX-K filed the ended for morning, financial contained X Thank are XX, and December Detailed and release in yesterday. you, year press

the GAAP and diluted December prior year year, $X.XX share earnings XX, increase adjusted total earnings million, GAAP of reported full we revenue diluted XX.X% $XXX.X share of million an over $XXX.X per or per ended $X.XX. the of of XXXX, For

adjusted million. As full $X.XX XXXX between earnings share $XX.X million, $XXX.X $X.XX between a million year and and between revenue reminder, adjusted included per $XX.X guidance EBITDA total $XXX.X and diluted our million and

per on $XX.X XX.X% XX.X% this $X.XX, over of diluted year with a increase the the earnings of million, non-GAAP $XX.X adjusted an of and delivered EBITDA We million adjusted prior year. over or guidance prior increase share

and in million generated solid The and net Our XXXX, the dry cash performance, growth a cash of quarter prolific from equity credit are generation cash future including $XX.X operational million our in a in sheet cash $XX.X with remains positioned strong. upsize balance offering for on powder quarter fourth our free deploy. and positive well healthy ample we October was activities operating our Based for to facility accumulation, flow. impacts

for our $XX.X EBITDA and of on ended million Key December the at provided revolving flows adjusted from on the in net and million full XX, for cash operations metrics Xx available year of cash year. include to $XX.X $XXX.X credit XXXX, hand debt million line year-end,

As $X.XX in our share adjusted revenue million of $X.XX. are million million we to year guidance of we $XXX mentioned EBITDA earnings $XX.X per release, full of providing and press million, $XX.X to adjusted of $XXX to XXXX

XX.X% effective organic growth, weighted rate. average current of XX shares a million approximately outstanding diluted guidance and tax Our and incorporates operations

health that anticipated rate in is hospice acquisitions on senior does operations, adjustments, unannounced level a rate home and reimbursement compensation, annual acquisition-related Our in inflation and quarter-over-quarter based consistent items. and with an occupancy ADC, costs implementation guidance not increase onetime unusual and ramp and living, share-based interest include rates XXXX XXXX. start-up and exclude EPS anticipates It improvement

that Health to performance choice health Jenna and Future future that in an have my demonstrated provider Home leaders White; behave future who results their Montana, Their XXXX. Sky stories At care an operational and Big can is local CEO, and spotlight Sankey; a excellence. owners as and pleasure CCO, the it's of operations built continuum. leaders Missoula, Janie and Hospice, few illustrate operation when employer exceptional in occur Now drive have Ama Loya, COO, remarkable

by XX.X% took services in composite hospice its and Sky has a score than Big well hospice benchmarks. rating and above XX% Sky of turnover more home to CAP real-time improved each of Janie XXX to Since a added XX% Big helm employee the of XXXX, Big offering, engagement health of achieved its Clinically, in XXXX. X.X, star Sky decreased national score score

addition, that full Big coupled in local years. to program. continuum driven reflect solutions EBITDA clinical These and Sky over performance purchasing meet X% have of the home the past under positive XXXX received needs health In increase increase value-based a a revenue with outcomes, in cultural results adjustment revenue CMS' excellent for a designed XXX% their and X XXX%

than Assisted Wellness at community of employer California, CEO, have Barbara an Yissy has work McDonald satisfaction with an Living. increased increased of strength has is clinical clearly Director, ] created community results. XXX%. better averages. to This has revenue resident future and of choice become Whittier's Whittier, this Kathleen XX% led has and turn and improved increasing In employee exceptional Aguirre Whittier Glen XX% scores Ultimately, and satisfaction. and XX% cultural impacts [ has EBITDA Year-over-year, significantly safety financial year-over-year exceptional Whittier's industry outcomes,

it back I'd Now hand like to to Brent.

Brent Guerisoli

Lynette. you, Thank

year and a As you and primed can we've success remarkable had are beyond. for XXXX in see,

please the Q&A the you questions. can open Marvin, audience instruct we'll procedure. for up that, With it on

Operator

of Our from first comes the Fidel question Scott Stephens. Instructions] of line [Operator

Scott Fidel

of first me. walk be just it for want the one, through here for revenue same-store guidance. expectations if living for health, how to the XXXX would couple within and embedding within thought the outlook, you're questions us A of I Maybe helpful growth Okay. senior home hospice you

Lynette Walbom

And same-store the in we're projecting includes store. for same I'm that, those looking the for entire revenue, when same-store about increase a it's revenue On at X% front -- portfolio.

So the Signature of the with same-store Signature store new -- exception ads.

Signature of separate kind piece. at looking are We a as

Scott Fidel

Yes.

SL being guess same-store you that Brent under health, would or directionally, the John then, either And have hospice over of X%. not and like think how around might growth? but specifics, or like sort about and X% just Okay. home aggregate you that Lynette, not I any,

John Gochnour

Scott. really from that We lot recent a standpoint, have our on have growth happy really recognize growth wanted within to XX% drive I'm from opportunity we We're share to home feeling This obviously, got health a going always to Yes. home X at and John, jump it we to to to that last the would transition years fact our that a number. XX%. in, when over health to on same-store is and opportunity suggest have perspective, the just we've continue improve record-breaking trends operations. admissions was the increase that revenue this we're a you to optimistic year, by those But and sensitive grow that. about look in hospice

think rate push the On senior living I see to to ability continue our side, you improvement.

the to little revenue, through to gives a we from room lot occupancy in a that's what growth. continue our same-store ameliorated our our that accurately, standpoint, and ability push can quality bit growth, capture of pass us ability of revenue board a cares segments optimism still that's more increases, both While to

Scott Fidel

second there. to seem to mostly you your options of the environment then about, home of Okay. XX% And guess mean of, sort that is care, payer and mix. GOP sort to relative in question, some there. talk different right, in considering Maybe question contribution my Maybe around mix exposure that funding would sort I be XX%. if I the Medicaid some XXXX, how sort savings mix assessment I around of have your had the then within And have you that currently be revenue sort the I guess, of to give would that. would earnings obligatory guess, of the or suspect details the right D.C. not to legislative or Washington I funding at In disclosures. I we could of around discussion sort the appreciate us

John Gochnour

question, to appreciate an it's one important I Yes, Scott, I think and consider. the us for

by color primarily in some add Medicaid to highlight business driven our XX%, senior to business. of the and Just the living sort that's

a total our add for can exposed for more you of home business to would potential that about our Medicare. a XX% of couple impact from so be care percent And

favorable On but on to nation's vulnerable a important living low-cost designed setting. would place our are the been earnings and side, are and in a able find communities to to identify the to are front, that I that so fairly these that programs need are have some senior stay are -- we future say serve programs the all that that

touched, looking look been for services And essential these save opportunity They've that. not that at populations. is doing, and in administration cut so abuse, Medicaid, be at Medicare they're they're we critical that to as patient every the money. waste appreciate won't We saying consistent looking to fairly for fraud, what

And higher as sort going to cut, opportunities of and places dollars expenditure so of we're money hospice, provide, we home of home that fact optimistic and the that at fact it's patients and they're because that offer represent health, acuity settings. the of lower a nature services high-touch look senior helps cost all living they Medicaid the to home to of hospital out that the care, care in non-skilled actually the lowest the setting save care, our it keep identify

And true. hold remain an that's so to that, optimistic standpoint we going that impact from

the [ -- PDGM. senior the ARPA change had our we endured changes The the its changes, Throughout time funding years. has history model that that during Brent We changes, shown multiple taken doing think of gone side. I and from away. throughout final a for those is And thing that living I'll We've resilience. to of this of XX the number we've say received have all have time, through I over on been ]

to the visibility adjust occur. mix, have and their as able transparent patient the those to how changes changes payment operators be those they understand resident have visibility to local Our and mix impact

positioned very Medicaid -- we our so And in again, fairly now, of But is any we're implicated to occur. amount right this revenue changes that -- do any our as feel obviously, that confident adjust it's potentially to is space much as a it's well that modest cuts. pertinent by

Scott Fidel

I of the been ramp years. Okay. just called earnings last know of one And couple course know if can. couple one the the an out guys then generally final over the for times that's a year. pattern I I me, anticipating in you of

you're there's any versus thinking to around of So flow give not the of about years. this 'XX. or thinking CapEx you if or And could that's last for different confirm magnitude and operating wanted for for it whether cash level ramp just us then me. year then And that your couple

Brent Guerisoli

the have acquisitions in But see take in cash Lynette because ramp being in let what said, done, and CapEx. larger of question of we've to I'll years we we And past. all the general, the Yes. transitions year. similar -- a the on of end to flow new the seen That really yes, expect and

over be year. may it an a more think aggressive of little the ramp I

beginning these the integrate year, trying of So operations. to we're

little And so year. more but yes, from of past, the of aggressive beginning will year be the the at that perspective, it years lighter the to a maybe toward similar and end

Lynette Walbom

similar operating front, cash operating we're we've for And then in high On at we expenditures year experienced to mid- what cash XXXX. look as CapEx looking flow. to the flow XXs be at this

Scott Fidel

Okay.

As revenue Lynette? dollars, or a percentage of absolute

Lynette Walbom

dollars. Absolute

Brent Guerisoli

Just that. color on little a

spent in a years of buildings. So our really the several we've lot over last time reinvesting

we're seeing in the why little bit flattening And of an spend. CapEx just overall so that's a

-- of newer necessarily or require buildings buildings on some that we much then So and nicer Class brought acquisitions as CapEx don't are spend. that newer A these

that kind into So what's well. anyway, that's of as built

Scott Fidel

hear. good That's All right. to

So important there. out to call probably

a sounds see that relative flow to cash free like like. 'XX. seems more it to that should 'XX We'll probably little ramp. So pronounced It

Lynette Walbom

Yes.

Operator

comes of line question next Fargo. Stephen the Our Baxter of from Wells

Stephen Baxter

business hospice on we look Kind of I we follow-up. at expect recently have you'd guess, same-store do a improvement. of then about the How think And home that about question by the us health type we think there assumptions. help do how some on what's trends margin basis within senior acquired assets? what's guidance when was balance the between being could in similar I the the EBITDA about theme also driven living? a just and same-store for you hoping a drivers maybe and of then think I

Lynette Walbom

will margin, the XXXX There acquisitions our beginning look on as as end similar and low to we've closer then we say there. will margin, -- XX some margin. when we'll we about will in I home that these be impact noise some think we be -- health XX%, it's at we're those year of EBITDA where where that high EBITDA operations would at of XX% at this thinking had But we're margin. to there end bring When XXXX up that that

And then margin of senior that we that with the measures looking cost XX.X%. living, we're throughout to that as at occupancy drive just again, some year, and margin and improve closer moving our increasing control

Stephen Baxter

Got it.

Okay. And then just remediate these past, and to to the kind of discuss more. the guys hospice operational cap up I And of kind in you issue popped have a little know bit methods that. have

deal So just of the I about much that there think make long that do throughout that how how just XXXX? operational and about guess a you the be drag how well. might I'm persists as with kind transient XXXX be might sort of changes trying we think outlook of to to within

John Gochnour

with. at look Yes. our as tied cap, a the historically, cap. to have you cap at because with California, is and And think deal we accrued cap that's increases that from fact, faster that where cap, have wage of increases. state Uniquely, hospice right, hospice impact not I that we And in we XXXX rate what came XX% Stephen. I that question, is hospice hospice allowance significant a about appreciate than the address a just index to the reimbursement, -- reimbursement operated the

do has our underlying been the mix change how on of Our we focus patients.

disease It's ill who their serve impossible prognosis. business verify in We're that. are to terminally throughout this to patients

prognosis President, be Jimmy certain every patient months We Carter, who patients for That out serve. in there of refer also relationships on we than the balance along sources that time take the focus generally significantly avoid and their choice to we disease for in are that that acute a develop is cumulative disease on the we partner we for saw is those referral where continuing ensure hospice patients said, hospice communities And X in their are those build more who the earlier want need identify prognosis. patients former care on expected. can to longer later hospice that are our cap. and And and

was impact on as pronounced, we margin. far That's it the fourth quarter. $X.X As significant expense out, affected and very our the it somewhat and last million a called in atypical year,

of As adjusting continue and do continued we our into -- way several focus is months, expect as managing we've some And I whatever those be I to go but patterns, to drag eliminate XXXX, that been than would it on X/X year. in as from effectively. would potentially possible this XXXX experienced year, that potentially in on what we be much may less the that XXXX cap that. for have cap as estimate there and we residual our as about such in of if we referral XXXX, been on focused a manage we'll would business

that partner serve. And sure our of again, our of of that affected in focused a hospice simply for allowance. on, below the are to affects and we changing the where the that this design emphasize because really source, choice I'll geographies couple referral we're the So the well those reimbursement making communities agencies care we agencies. Most we're less of of cap the cap the operate that those higher are time have agencies only patients in

Operator

next Our the line question of of Hendrix Markets. comes from Capital RBC Ben

Benjamin Hendrix

AL there. Senior really focus momentum initiatives turn optimize I mix to I strong potentially and maybe back mix. you've Living the more of kind rate past know seeing wanted in to segment. Clearly, towards you're And to outlined the

for of our and in the you we're of how what get with to as wanted there opportunities in M&A future? kind idea kind an same-store portfolio of you're inning Just thinking look those about

Brent Guerisoli

our Yes. focus the I in script, this on in a Ben. one quality. touched Great was kind things XXXX of saw driving question, on that revenue And of we we think but real

that we're bringing some of is folks in general, than And thing, also is ever rate. It we've resident buildings better our bit position and so in to in means been. expectations higher the residents. our mentioned the plateaued in a to growth. an of is I or a though, some little what a trying great just at experience that much occupancy in investments now create of population our the The

And build feel stages and XXXX, we're being out technology of why where in continued communities to efforts the in. of ramp so still the kind that's at. residents sales early start we're execute we those really we'll mean, in I occupancy. see investments up on as into investments, we're like coupled that we're we've our cycle implemented, able to really ramp front, about with continue in trying capture really think terms on up I new of we to and We and optimistic good And different inning, what in -- the going these that to this.

thing the operations that have in or XXs the low a in bear to And our other significant are terms just of in XXs high occupancy. is their of number we mind

know matter of their So be we how at make build happen. we well. to as and helping level tools them know giving the a local build to -- resources that just those the to teams it occupancy effectively and It's to local able

confident again, of that kind got in we've the foundation so we're And place.

be of. should year continue we so And that a this off to grow

Operator

for like to questions showing closing turn to would I'm you. remarks. back it time. Brent further now at no I Guerisoli this Thank

Brent Guerisoli

thank you, everyone, you, us and Okay. Well, joining for today. Marvin, thank

Operator

conclude Thank the your in does This you participation conference. today's for program.

You disconnect. may now

The Pennant Group, Inc. (PNTG) 28 Feb 252024 Q4 Earnings call transcript