The Pennant Group, Inc.

Ladies and gentlemen, thank you for standing by. Welcome to the Pennant Group first quarter 2026 earnings call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you would need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. And to withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would like now to turn the conference over to Kirk Cheney. Please go ahead.

Thank you, Michelle. Welcome, everyone, and thanks for being with us today. Joining me are Brent Garasoli, our CEO, John Gochner, our president and COO, Lynette Walbaum, our CFO, and Andy Ryder, president of our senior living segment. Before we get started, I have a few housekeeping items. Yesterday, we filed our earnings press release in Form 10-Q. The release is posted in the Investor Relations section of our website at www.pennantgroup.com. A replay of today's call will also be available on our website until 5 p.m. Mountain Time on May 6, 2027. We also want to remind anyone listening by replay that all statements are made as of today, May 7, 2026, and we do not intend to update these statements after this call. In addition, any forward-looking statements we make today reflecting management's current expectations, assumptions, and beliefs regarding our business and the operating environment. These statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Listeners should not place undue reliance on forward-looking statements and should review our SEC filings for a fuller discussion of factors that could affect our results. Except as required by federal securities laws, PENET and its affiliates undertake no obligation to publicly update or revise any forward-looking statements due to new information, future events, changing circumstances, or otherwise. Further, the Pennant Group, Inc. is a holding company and does not have direct operating assets, employees, or revenues. Certain independent subsidiaries, collectively referred to as the service center, provide administrative services to our other operating subsidiaries pursuant to contractual arrangements. References to Pennant, the company, we, our, and us mean the Pennant Group, Inc. and its consolidated subsidiaries. Each of our operating subsidiaries in the service center is operated as a separate independent company with its own management team, employees, and assets. Accordingly, references in this presentation to the consolidated company and its assets and activities, as well as the use of we, us, are, and similar terms, should not be understood to suggest that the Pennant Group, Inc. directly employs operating personnel or that any subsidiary is directly operated by the Pennant Group. We also supplement our GAAP results with certain non-GAAP measures. We believe these measures, when considered alongside our GAAP results, can help provide a more complete view of our performance. However, they should not be considered in isolation or as a substitute for GAAP reporting. A reconciliation of GAAP to non-GAAP measures is included in yesterday's press release and is also available in our 10Q. With that, I'll turn the call over to our CEO, Brent Garasoli. Brent?

Thanks, Kirk. Good morning, everyone, and welcome to our first quarter 2026 earnings call. To start, I want to acknowledge the dedication of Pennant's people. Through different cycles and environments, during rapid growth, changing macroeconomic conditions, and more, our teams consistently rise to meet the moment. I am proud to work alongside you. We're pleased to report another excellent quarter with strong results across our businesses, including revenue of $285.4 million, up $75.5 million or 36 percent, adjusted EBITDA of 21.7 million, up 5.3 million, or 32.6 percent, adjusted EBITDA prior to NCI of 23.5 million, up 6.4 million, or 37.2 percent, and adjusted diluted earnings per share of 32 cents, up 5 cents, or 18.5 percent each over the prior year quarter. Across both segments, We continue to build momentum and drive relentless operational improvement. As we've discussed on prior calls, 2025 was a year of dramatic acquisitional growth. And in 2026, we are committed to improving our operational performance in both new and mature operations. One clear indication of progress is our same store segment adjusted EBITDA margins, which are on a substantial upward trajectory. As we deliver exceptional results for patients, attract the best leaders, and create a culture of excellence in our agencies and communities, we will continue to unlock meaningful value in our operations. A key to our success, as we have repeatedly emphasized, is attracting and developing exceptional leaders. Without this focus, the type of growth we have experienced would not have been possible. The large acquisitions we completed in 2025 called upon us to stretch our leadership recruitment and development muscles like never before. We rose to the challenge. In 2025, we added 101 CEOs in training to our development program, and we have followed with 47 more in 2026 year to date. Also in 2025, we elevated 11 local CEOs and 24 other local C-level leaders. Our leadership pipeline remains robust and positions us well for additional growth in the future. With the addition of leaders recognized thus far in 2026, we now have 55 CEOs and 92 other C-level leaders in operations, driving our results across the business. The transition of Tennessee, Alabama, and Georgia operations from United Healthcare continues to progress. We have transitioned two of five operational waves fully into our systems, and will continue this process through October. As this occurs, we anticipate improved operational performance and incremental reduction in expenses, including those under the transition services agreement. The leaders of each agency continue to work closely in clusters with experienced tenant partners to unleash the full potential of our locally driven operating models. Despite the anticipated challenges of maintaining census during an EMR transition, lower seasonal admission trends over the holidays, and severe weather events in January, we have successfully rebounded and increased total census above the levels at the time of acquisition. Even as we continue to implement our systems and operating model and anticipate some additional disruption, we are pleased that the transition is progressing consistent with our expectations. The future is bright for Pennant in the Southeast. In sum, the first quarter was a tremendous start to the year, and we are well situated to deliver positive results throughout 2026 and beyond. With only one quarter behind us and substantial additional transition work on the near horizon, we are not adjusting guidance at this time, but would point you to the upper end of our guidance range. Now, I'll turn the call over to John Gochner, our President and COO, to share additional detail on our first quarter operating performance. John?