PACS Group, Inc. (NYSE: PACS) reported full‑year 2025 revenue of $5.29 billion, a 29.3% increase from $4.09 billion in 2024. Net income rose to $191.5 million, while adjusted EBITDA reached $505.0 million, up 81% year‑over‑year. The company’s fourth‑quarter revenue of $1.36 billion grew 12.4% from the same period in 2024, and adjusted EBITDA for the quarter was $142.1 million.
The results reflect the impact of a robust acquisition program in 2024, during which PACS added 53 facilities from Prestige, 11 skilled‑nursing sites in Tennessee, and a total of 38 facilities by October 31. The company’s portfolio now spans 323 facilities across 17 states, with 105 properties owned outright or held through joint‑venture partnerships. The expansion has broadened PACS’s geographic reach and increased its scale in the post‑acute care market.
CEO Jason Murray said, "We're pleased with our overall 2025 results, which reflect our commitment to exceptional patient care, superb quality, consistent operational excellence, and forward‑looking strategic growth. These results support our differentiated business model and our optimism for ongoing success." CFO Mark Hancock added, "Revenue for the quarter was $1.36 billion, up approximately 12% over the same period in the prior year. Net income totaled $59.8 million for the quarter. Adjusted EBITDAR was $237.7 million, while adjusted EBITDA was $142.1 million."
Investors responded positively to the earnings, citing margin strength and an improved 2026 guidance that projects 8% revenue growth and nearly 12% adjusted EBITDA growth. Analysts highlighted PACS’s ability to scale its platform, maintain high occupancy rates, and increase the proportion of 4‑ and 5‑star CMS‑rated facilities, all of which reinforce the company’s competitive position in a fragmented market.
The earnings beat expectations—EPS of $0.49 versus analyst estimates of $0.44—underscored the effectiveness of PACS’s cost‑control initiatives and the operational leverage gained from its acquisition strategy. The company’s guidance signals confidence in sustaining growth while managing headwinds such as rising acquisition costs and regulatory scrutiny. Overall, the results reinforce PACS’s trajectory toward a more mature, profitable business model.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.