Concentra Reports Stable Adjusted EBITDA and Projects 2024 Financial Outlook

Concentra, a leading healthcare services provider, has released its financial performance metrics for the three and nine months ending September 30, 2024, highlighting key adjustments and reconciliations to its earnings. The company reported an Adjusted EBITDA of $101.6 million for the three months and $299.3 million for the nine months, maintaining a consistent margin of around 21%. Adjusted net income attributable to common shares was $44.3 million for Q3 2024, equating to $0.37 per share, slightly lower than the $53.0 million ($0.51 per share) reported in Q3 2023.

For the nine-month period, adjusted net income was $146.2 million, or $1.33 per share, compared to $151.8 million, or $1.46 per share, in the previous year. The company also provided a business outlook for the full year ending December 31, 2024, projecting an Adjusted EBITDA in the range of $370 million to $375 million. This forecast includes adjustments for income tax expense, interest expenses, equity losses, stock compensation, and separation transaction costs.

Separation transaction costs, which are fees associated with Concentra's planned transition into a publicly traded entity, were included in general and administrative expenses. These adjustments are crucial for investors to understand the ongoing operational performance and comparability of results across different periods. Concentra emphasizes that adjusted metrics should not replace GAAP measures but serve as supplementary information to gauge financial health.