PA
PACS
PACS PACS Group (PACS) Q2 FY26 earnings call
PACS Group delivered strong Q2 FY26 results, driven by operational improvements across its existing portfolio, including increased occupancy and skilled mix. The company is actively integrating new acquisitions, such as the Eduro Healthcare facilities, while maintaining a conservative balance sheet and addressing ongoing government investigations and internal control remediation efforts. The focus remains on high-quality care and disciplined growth.
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PACS operating KPIs by quarter
| KPI | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Facilities | 321As of December 31, 2025, PACS operates 321 facilities across 17 states, caring for more than 31,700 patients daily and supported by over 47,000 dedicated team members.Source: earnings call transcript | 323As of March 31, 2026, PACS operated 323 facilities across 17 states with approximately 35,500 total beds, including roughly 32,700 skilled nursing beds and 2,700 assisted living beds -- across this platform, we are caring for approximately 31,900 patients daily.Source: earnings call transcript | 324As of June 30, PACS operated 324 health care facilities across 17 states with 35,631 total beds, including 32,790 skilled nursing beds and 2,841 assisted living beds.Source: earnings call transcript | +0.3% |
| Patients | 31.7K+As of December 31, 2025, PACS operates 321 facilities across 17 states, caring for more than 31,700 patients daily and supported by over 47,000 dedicated team members.Source: earnings call transcript | ~31.9KAs of March 31, 2026, PACS operated 323 facilities across 17 states with approximately 35,500 total beds, including roughly 32,700 skilled nursing beds and 2,700 assisted living beds -- across this platform, we are caring for approximately 31,900 patients daily.Source: earnings call transcript | 31.9K+Across this platform, our teams care for more than 31,900 patients each day, supported by approximately 48,000 employees.Source: earnings call transcript | — |
| Employees | 47K+As of December 31, 2025, PACS operates 321 facilities across 17 states, caring for more than 31,700 patients daily and supported by over 47,000 dedicated team members.Source: earnings call transcript | — | ~48KAcross this platform, our teams care for more than 31,900 patients each day, supported by approximately 48,000 employees.Source: earnings call transcript | — |
| Total operating beds | 35.379KToday, our portfolio includes 35,379 total operating beds, of which 32,854 are skilled nursing beds and 2,525 are assisted living beds, which span across 17 states, reflecting a scaled and geographically diversified footprint.Source: earnings call transcript | ~35.5KAs of March 31, 2026, PACS operated 323 facilities across 17 states with approximately 35,500 total beds, including roughly 32,700 skilled nursing beds and 2,700 assisted living beds -- across this platform, we are caring for approximately 31,900 patients daily.Source: earnings call transcript | 35.631KAs of June 30, PACS operated 324 health care facilities across 17 states with 35,631 total beds, including 32,790 skilled nursing beds and 2,841 assisted living beds.Source: earnings call transcript | — |
| Total operating beds Skilled Nursing | 32.854KToday, our portfolio includes 35,379 total operating beds, of which 32,854 are skilled nursing beds and 2,525 are assisted living beds, which span across 17 states, reflecting a scaled and geographically diversified footprint.Source: earnings call transcript | ~32.7KAs of March 31, 2026, PACS operated 323 facilities across 17 states with approximately 35,500 total beds, including roughly 32,700 skilled nursing beds and 2,700 assisted living beds -- across this platform, we are caring for approximately 31,900 patients daily.Source: earnings call transcript | 32.79KAs of June 30, PACS operated 324 health care facilities across 17 states with 35,631 total beds, including 32,790 skilled nursing beds and 2,841 assisted living beds.Source: earnings call transcript | — |
| Total operating beds Assisted Living | 2,525Today, our portfolio includes 35,379 total operating beds, of which 32,854 are skilled nursing beds and 2,525 are assisted living beds, which span across 17 states, reflecting a scaled and geographically diversified footprint.Source: earnings call transcript | 2,700As of March 31, 2026, PACS operated 323 facilities across 17 states with approximately 35,500 total beds, including roughly 32,700 skilled nursing beds and 2,700 assisted living beds -- across this platform, we are caring for approximately 31,900 patients daily.Source: earnings call transcript | 2,841As of June 30, PACS operated 324 health care facilities across 17 states with 35,631 total beds, including 32,790 skilled nursing beds and 2,841 assisted living beds.Source: earnings call transcript | +5.2% |
| Occupancy rate | 89.1%Total occupancy stands at 89.1% with our mature facilities delivering exceptional 94.9% occupancy, up from 94.4% last year.Source: earnings call transcript | 90.9%Total occupancy for all facilities for the quarter was 90.9%, compared to 89.2% in the prior year and continuing to significantly outpace the industry average of approximately 79%.Source: earnings call transcript | — | +1.8 pt |
| Occupancy rate Mature Facilities | 94.9%Total occupancy stands at 89.1% with our mature facilities delivering exceptional 94.9% occupancy, up from 94.4% last year.Source: earnings call transcript | 94.8%Our mature facilities remained highly stable, operating at 94.8% occupancy with skilled mix of 33% and which continues to reflect the strength and consistency of our longer-tenured operations.Source: earnings call transcript | 93.8%As expected, our occupancy increases as we move across these cohorts with new facilities occupancy at 78.7%, ramping facilities at 87.7% occupancy and mature facilities at 93.8% occupancy.Source: earnings call transcript | -1 pt |
| Occupancy rate Ramping facilities | — | 88.9%Our ramping facilities averaged 88.9% occupancy with skilled mix continuing to improve, reflecting ongoing operational progress as these facilities move toward mature performance levels.Source: earnings call transcript | 87.7%As expected, our occupancy increases as we move across these cohorts with new facilities occupancy at 78.7%, ramping facilities at 87.7% occupancy and mature facilities at 93.8% occupancy.Source: earnings call transcript | -1.2 pt |
| Occupancy rate New facilities | — | 82.7%Our new facilities averaged 82.7% occupancy, with skilled mix of 26.5%, reflecting the early stages of integration and stabilization as these facilities continue progressing towards mature performance levels.Source: earnings call transcript | 78.7%As expected, our occupancy increases as we move across these cohorts with new facilities occupancy at 78.7%, ramping facilities at 87.7% occupancy and mature facilities at 93.8% occupancy.Source: earnings call transcript | -4 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.