Concentra Group Holdings Parent, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting revenue of $489.6 million, a 3.3% increase from $474.0 million in the prior-year period. Income from operations grew by 6.5% to $86.2 million, compared to $80.9 million in the third quarter of 2023.
Net income for the quarter was $45.8 million, with earnings per common share at $0.37. Adjusted EBITDA increased 2.7% to $101.6 million, maintaining an Adjusted EBITDA margin of 20.7%. The company also declared a cash dividend of $0.0625 per share, payable on November 22, 2024, to stockholders of record as of November 13, 2024.
The company provided its 2024 business outlook, expecting revenue of approximately $1.9 billion and Adjusted EBITDA in the range of $370.0 million to $375.0 million. Concentra also detailed its initial public offering (IPO) completed on July 26, 2024, which raised net proceeds of $499.7 million from the sale of 22,500,000 shares at $23.50 per share, alongside new Credit Facilities and $650.0 million in Senior Notes to support its operations as a standalone public entity.
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