Q1 Revenue of $336.6M Exceeds Consensus
Reports Q1 revenue $336.6M, consensus $329.9M. "Our first quarter results reflect a strong start to the year and, importantly, a successful transition into a fundamentally new operating environment. While the Inflation Reduction Act (the "IRA") introduced significant pricing resets on certain branded medications that we dispense, we were able to offset the profitability impact, enabling us to maintain margin stability and deliver double-digit Adjusted EBITDA growth. Just as importantly, the underlying fundamentals of the business remain solid, with 10% growth in residents served and prescription volumes," said Fred P. Burke, President & CEO. "As the industry adapts to the broader effects of the IRA, we believe our scale, local operating model, and financial strength position us well to navigate ongoing changes and continue delivering consistent service to residents and our facility partners."
