PACS Group reported third quarter 2026 results that exceeded analyst estimates for both revenue and earnings. Performance was driven by healthy organic growth and the successful ramp-up of newly acquired facilities, prompting management to raise full-year 2026 Adjusted EBITDA and revenue guidance.

Key Highlights

  • Revenue increased 11.5% year-over-year to $1.50 billion, supported by a 6.4% increase in same-store skilled nursing facility revenue.
  • Adjusted EPS of $0.63 outperformed the consensus estimate of $0.56, while Adjusted EBITDA grew 33.6% to $175.7 million, significantly outpacing revenue growth.
  • Overall occupancy reached 90.2%, remaining well above the industry average of 80.2%, though slightly below some analyst expectations due to a 76.2% occupancy rate in the rapidly expanding 'New' facility cohort.
  • Full-year 2026 Adjusted EBITDA guidance was raised to $685 million–$695 million, up from the previous range of $640 million–$660 million.