PACS Group, Inc. announced its third quarter 2026 operating results, reporting revenue of $1.50 billion, representing an 11.5% increase over the prior year. The Salt Lake City-based company reported net income of $60.8 million for the quarter, up from $52.3 million during the same period last year.
The company reported several key financial metrics for the third quarter of 2026. Diluted earnings per share reached $0.37, while adjusted earnings per share rose 37.0% over the prior year to $0.63. Adjusted EBITDA was $175.7 million, an increase of $44.2 million or 33.6% compared to the $131.5 million reported in the prior-year period. Adjusted EBITDAR for the quarter was $273.9 million.
Operational metrics showed an overall occupancy rate of 90.2%, compared to an industry average of 80.2%. The company reported that 78.9% of its skilled nursing portfolio achieved a 4 or 5 star CMS Quality Measure Star rating. As of September 30, 2026, the company had 398 healthcare operations across 21 states. During the third quarter, PACS Group deployed $213.0 million in capital for M&A, bringing the total M&A investment for the first nine months of the year to $403.8 million.
PACS Group Chief Executive Officer Jason Murray stated that the results reflect progress across the organization regarding quality of care and facility performance. Chief Financial Officer Carey Hendrickson noted that the company is increasing its full-year 2026 Adjusted EBITDA guidance to a range of $685 million to $695 million, up from a previous range of $640 million to $660 million. Revenue guidance was also increased to a range of $5.95 billion to $6.05 billion, up from the prior range of $5.75 billion to $5.85 billion.
A live webcast was scheduled for November 4, 2026, at 11:30 a.m. Eastern time to discuss the third quarter financial results.
