PACS Group (PACS) Company Report

PACS Group reported Q3 2025 revenue of $1.3 billion, a 31% increase over the prior year, with adjusted EBITDA of $131.5 million and diluted earnings per share of $0.32.
For the first nine months of 2025, the company achieved record revenue of $3.9 billion and record adjusted EBITDA of $363.0 million.
The company provided full-year 2025 guidance, projecting annual revenue between $5.25 billion and $5.35 billion and adjusted EBITDA between $480 million and $490 million.
PACS Group has completed an independent investigation into short seller allegations, strengthened internal controls, and is now current with all reporting obligations.
The company's portfolio includes 35,202 total operating beds across 320 facilities in 17 states, with total occupancy standing at 89%.

Nov 19, 2025, 10:30 PM

PACS Group Reports Record Q3 and YTD 2025 Results, Provides Strong Full-Year Guidance

PACS

Earnings

Guidance Update

Financial Restatement

PACS Group reported Q3 2025 revenue of $1.3 billion, a 31% increase year-over-year, and diluted EPS of $0.32. For the first nine months of 2025, the company achieved record revenue of $3.9 billion and record adjusted EBITDA of $646.2 million.
The company issued full-year 2025 revenue guidance of $5.25 billion to $5.35 billion and adjusted EBITDA guidance of $480 million to $490 million, anticipating record results.
Operational strength is evident with total facility occupancy at 89% for the first three quarters of 2025, and 192 facilities (68.6%) of its skilled nursing portfolio rated four or five stars by CMS.
PACS Group has completed its previously announced restatement and strengthened internal controls following an independent investigation into short seller allegations. Cash provided by operations for the first nine months of 2025 was $407 million.

Nov 19, 2025, 10:30 PM

PACS Group Reports Strong Q3 2025 Results and Provides Full-Year Guidance

PACS

Earnings

Guidance Update

M&A

PACS Group reported strong financial results for Q3 2025, with revenue of $1.3 billion (a 31% increase year-over-year) and diluted EPS of $0.32. Year-to-date Q3 2025, total revenue was $3.9 billion (a 36% increase), and adjusted EBITDA reached $646.2 million.
The company issued full-year 2025 guidance, projecting annual revenue between $5.25 billion and $5.35 billion (a 30% increase at the midpoint over 2024) and adjusted EBITDA between $480 million and $490 million.
PACS Group announced the completion of its previously disclosed restatement and an independent investigation into short seller allegations, stating it is now operating from a position of strength and transparency.
The company's portfolio has expanded to 35,202 total operating beds across 17 states, achieving 89% total facility occupancy for the first three quarters of 2025. Following 106 facility acquisitions in 2024, the company completed seven strategic acquisitions year-to-date in 2025, with plans to increase M&A activity going forward.

Nov 19, 2025, 10:30 PM

PACS Group Reports Q3 2025 Results, Issues Full Year 2025 Guidance, and Completes Financial Restatement

PACS

Earnings

Financial Restatement

Legal Proceedings

PACS Group, Inc. reported Q3 2025 revenue of $1.34 billion, an increase of 31.0% over the prior year, with net income of $52.3 million and Adjusted EBITDA of $131.5 million.
The company provided full year 2025 guidance, expecting revenue between $5.25 billion and $5.35 billion and Adjusted EBITDA between $480 million and $490 million.
PACS has completed the restatement of its financial statements for Q1 and Q2 2024, which involved a $14.9 million reduction for Q1 2024 and a $46.1 million reduction for Q2 2024, and is now current with SEC filing obligations.
The independent Audit Committee has concluded its investigation concerning allegations made in a short seller report.

Nov 19, 2025, 9:06 PM

PACS Group Announces NYSE Listing Extension and Interim CFO Appointment

PACS

Financial Restatement

Delisting/Listing Issues

CFO Change

PACS Group received an extension from the NYSE until November 19, 2025, to complete the restatement of its financial statements for the three months ended March 31, 2024, and the three and six months ended June 30, 2024, to regain compliance with NYSE listing standards.
The company expects to report record revenue and Adjusted EBITDA for the first six months of 2025.
As of June 30, 2025, PACS Group's subsidiaries operated 316 healthcare facilities across 17 states, with total facilities occupancy at 88.9%.
Cash and cash equivalents increased to $294.2 million as of June 30, 2025, compared to $157.7 million as of December 31, 2024.
Mark Hancock was appointed interim Chief Financial Officer on September 3, 2025.