Concentra Reports Solid Third Quarter 2024 Results
October 31, 2024
IPO: Jul 25, 24
Industry:
SPECIALTY OUTPATIENT FACILITIES, NEC
ADDISON, TEXAS – Concentra Group Holdings Parent, Inc. (NYSE: CON) announced its third quarter 2024 results, demonstrating a 3.3% revenue increase to $489.6 million compared to the same period last year. Adjusted EBITDA grew by 2.7% to $101.6 million.
Key highlights from the third quarter:
- Revenue increased by 3.3% to $489.6 million
- Adjusted EBITDA increased by 2.7% to $101.6 million
- Net income of $45.8 million and earnings per share of $0.37
- Cash balance of $136.8 million and net leverage of 3.7x
- 549 occupational health centers (compared to 539 in the prior-year quarter)
- 156 onsite health clinics at employer worksites (compared to 145 in the prior-year quarter)
Concentra CEO Keith Newton expressed satisfaction with the results and progress on key strategic initiatives, including the separation from Select Medical. Matt DiCanio, President & CFO, highlighted the company’s expansion and strong patient satisfaction scores.
2024 Outlook:
Concentra expects full-year 2024 revenue to be approximately $1.9 billion and adjusted EBITDA to be in the range of $370.0 million to $375.0 million.
Dividend:
Concentra’s Board of Directors declared a cash dividend of $0.0625 per share, payable on November 22, 2024, to stockholders of record as of the close of business on November 13, 2024.
IPO and Debt:
Concentra completed an initial public offering in July 2024 and raised additional capital through debt financing. The net proceeds from these transactions were largely distributed to Select Medical Corporation.
Concentra is the largest provider of occupational health services in the United States with 549 occupational health centers and 156 onsite clinics.
IBG’s Bitters Boom: Record Shipment Hits US Shores
October 30, 2024
IPO: Sep 26, 24
Seven Hills, Australia – Innovation Beverage Group (Nasdaq: IBG) has received its largest ever US shipment of its award-winning Australian Bitters Company and BITTERTALES brands. This move follows a new nationwide distribution deal with Sysco, making Australian Bitters Company the first bitters brand available through the foodservice giant.
IBG CEO Dean Huge confirmed the company is ready to meet surging demand: “We are well-stocked to supply our rapidly expanding distribution network in North America.” With major retailers and distributors eyeing both brands, IBG is poised for significant growth.
Both Australian Bitters Company and BITTERTALES have garnered prestigious awards, solidifying IBG’s position as a key player in the booming bitters market.