The Pennant Group, Inc.

Good day and thank you for standing by. Welcome to the Penta Group third quarter 2025 earnings call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised today's conference is being recorded. I would like to hand the conference over to your speaker today, Kirk Cheney, Executive Vice President. Please go ahead.

Thank you, Kevin. Welcome, everyone, and thank you for joining us today. Here with me today, I have Brent Garasoli, our CEO, John Gochner, our president and COO, and Lynette Walden, our CFO. Before we begin, I have a few housekeeping matters. We filed our earnings press release in 10Q yesterday. This announcement is available on the investor relations section of our website. A replay of this call will also be available on our website until 5 p.m. Mountain Time on November 5th, 2026. All statements are made as of today, November 6, 2025, and these statements will not be updated after today's call. Also, any forward-looking statements made today are based on management's current expectations, assumptions, and beliefs about our business and operating environment. These statements are subject to risks and uncertainties that could cause our actual results to materially differ. Listeners should not place undue reliance on forward-looking statements and are encouraged to review our SEC filings for a more complete discussion of factors that could impact our results. Except as required by federal securities laws, Pennant and its affiliates do not publicly update or revise any forward-looking statements where changes arise from new information, future events, or for any other reason. In addition, the Pennant Group, Inc. is a holding company with no direct operating assets, employees, or revenues. Certain of our independent operating subsidiaries, collectively referred to as the service center, provide administrative services to the other operating subsidiaries through contractual relationships with such subsidiaries. The words pennant, company, we, our, and us refer to the Pennant Group, Inc., and its consolidated subsidiaries. All of our operating subsidiaries and the service center are operated by separate independent companies that have their own management, employees, and assets. References herein to the consolidated company and its assets and activities, as well as use of the terms we, us, our, and similar terms do not imply that Pennant Group, Inc. has direct operating assets, employees, or revenue, or that any of the subsidiaries are operated by the Pennant Group. Also, we supplement our GAAP reporting with non-GAAP metrics. When viewed together with our GAAP results, we believe that these measures can provide a more complete understanding of our business, but they should not be relied upon to the exclusion of GAAP reports. A GAAP to non-GAAP reconciliation is available in yesterday's press release and is available in our 10-K. And with that, I will turn the call over to Brent Garasoli, our CEO. Brent?

Thanks, Kirk, and welcome, everyone, to our third quarter 2025 earnings call. we are pleased to report another successful quarter with strong results across our business. The third quarter brought new highs in revenue, census, occupancy, and earnings, even as we prepared for the largest transaction in our history. In Q3, we reported revenues of 229 million, an increase of 48.4 million, or 26.8%, adjusted EBITDA of 17.3 million, an increase of 2.2 million, or 14.5 percent, and adjusted EPS of 30 cents, an increase of 4 cents, or 15.4 percent, each over the prior year quarter. We closed on the UnitedHealth-Amedisys transaction on October 1st. We are excited to add these operations to Pennant. The UnitedAmedisys process created a unique opportunity to add high-quality assets in desirable markets at an attractive valuation rarely seen on larger deals with sophisticated operators. As we've closed the transaction and dived into the businesses, our excitement has only grown. We have met many incredible leaders and team members who are deeply committed to their local communities. In the near term, we are heavily engaged in the complex integration matters that accompany such acquisitions, which we expect to create some lumpiness and results through the transition. But in the longer term, we see immense potential in these operations. A recent signature transition gives us a model. Only a year ago, signature was the largest transaction in our history. Completed in two tranches, from August 2024 to January 2025, with locations across three states, the signature acquisition was similar in many respects to this most recent deal. Signature enjoyed a deserved reputation as a quality operator, and we saw, that we could build on their legacy through the Pennant model. Signature's transition has been a tremendous success. We have seen former signature leaders enthusiastically embrace the Pennant model and culture and lift their operations to new heights. They have expressed how they now feel unlocked, capable of owning their operations, and empowered to grow. Thanks to the efforts of these leaders, along with new leaders developed in our training program, the acquired signature operations have outpaced our financial expectations while maintaining or improving their clinical and quality metrics. In much the same way, we expect that, over time, these new operations we've acquired in the Southeast will demonstrate that the Pennant model adds value not only to turnaround situations but to stable, solidly performing operations. Over the past several years, our focus has been on recruiting and developing great leaders and continuously improving our transitions. As a result, we have delivered increasingly strong performance in our recent acquisitions, and we now see this powerful flywheel continuing to accelerate. Across senior living, hospice, and home health, our local leaders have consistently stepped up to the operating challenges in their communities by directly controlling outcomes and relentlessly driving improvement. At present, the uncertainty surrounding the 2026 home health rule has cast a pall over the industry. But Pennant is not a passive index tied to home health reimbursement rates. With less than 20% of our revenue arising from Medicare home health fee for service reimbursement, we are a diversified post-acute provider with strength across hospice, senior living, and home health. And more importantly, we are a locally driven leadership company that empowers leaders to adapt proactively to external challenges. We will continue to advocate against the proposed rule as bad for patients, providers, and taxpayers. Ultimately, we will respond operationally to the outcome of the final rule, and we believe that home health care will continue to play a vital role in the post-acute continuum for many years to come. We are positioned to be at the forefront of that care and remain invested in driving growth in home health along with the growth we foresee in our hospice and senior living operations. Based on the sustained momentum in our businesses and the addition of the operations in the southeast, we are again raising annual earnings guidance. We anticipate full year revenue of $911.4 million to $948.6 million, adjusted EBITDA of $70.9 million to $73.8 million, and adjusted earnings per share of $1.14 to $1.18. the earnings per share midpoint of $1.16 represents a 23.4% increase over our 2024 earnings per share. With that, I'll turn the call over to John to provide more detail on our third quarter operational results.