Concentra Group Holdings Parent, Inc. — Third Quarter 2026 Earnings Summary

Financial Performance:

• Revenue for the quarter ended September 30, 2026, was $622.1 million, an 8.6% increase from $572.8 million in Q3 2025.
• Net income attributable to the Company was $65.9 million, a 36.5% increase from $48.3 million in Q3 2025.
• Adjusted EBITDA was $140.2 million, a 17.9% increase from $118.9 million in Q3 2025.
• Net income margin increased to 10.9%, an expansion of 220 basis points year over year.
• Adjusted EBITDA margin increased to 22.5%, an expansion of 178 basis points year over year.
• Net cash provided by operating activities was $51.9 million, compared to $60.6 million in Q3 2025.
• Free Cash Flow was $32.2 million, compared to $40.2 million in Q3 2025.
• Cash balance was $85.8 million as of September 30, 2026.
• Total debt was $1,521.3 million, resulting in a net leverage ratio of 2.90x.
• Earnings per share (basic and diluted) were $0.52, a 36.8% increase from $0.38 in Q3 2025.
• Adjusted earnings per share were $0.52, a 33.3% increase from $0.39 in Q3 2025.

Guidance and Future Outlook:

• Raised full-year 2026 revenue guidance to a range of $2.360 billion to $2.380 billion.
• Raised full-year 2026 Adjusted EBITDA guidance to a range of $505 million to $510 million.
• Raised full-year 2026 Free Cash Flow guidance to a range of $220 million to $240 million.
• Full-year 2026 capital expenditures are expected to be in the range of $70 million to $80 million (excluding acquisitions and net of proceeds from sale of assets).

Business Segments and Product Lines:

• Total occupational health centers increased to 639, up from 628 at the end of Q3 2025.
• Opened three de novo occupational health centers in Kansas City, Boise, and Daytona Beach.
• Completed the acquisition of a four-center occupational health practice in Minnesota.
• Total onsite health clinics increased to 423, up from 413 at the end of Q3 2025.
• Patient visits totaled 3,731,956, a 4.9% increase from 3,557,697 in Q3 2025.
• Revenue per visit was $152.14, a 3.3% increase from $147.31 in Q3 2025.
• Workers' compensation revenue was $370.5 million, up from $343.5 million in Q3 2025.
• Employer services revenue was $190.5 million, up from $173.2 million in Q3 2025.

Market and Competitive Landscape:

• Concentra is the nation's largest provider of occupational health services by number of locations.
• Received a corporate credit rating upgrade from S&P Global, moving from BB- to BB.
• Received a revised outlook from Moody's, moving from stable to positive.
• Supports approximately 55,000 patients each business day on average across 46 states and the District of Columbia.

Risks and Challenges:

• Risks include the frequency of work-related injuries and illnesses, adverse changes to relationships with employer customers and third-party payors, and changes to regulations or state fee schedules.
• Potential challenges include labor shortages, increased employee turnover or costs, union activity, and the ability to compete effectively with other healthcare providers.
• Risks also encompass cybersecurity threats, data privacy compliance, legal actions, litigation, and the impact of impairment of goodwill and other intangible assets.
• The separation from Select Medical Corporation and the effects of public threats such as pandemics are noted as potential risks.

Management Commentary and Tone:

• Keith Newton, Executive Chairman, stated the company delivered a strong quarter reflecting the consistency of its operating model and the strength of its team, entering a new chapter with strong momentum.
• Matt DiCanio, President and CEO, highlighted the ability to translate strong operating performance into profitable growth, expanded footprint, strengthened balance sheet, and returned capital to shareholders.
• Management expressed confidence in the performance and continued momentum, with a focus on disciplined growth, operational excellence, and delivering high-quality care.
• Leadership transitioned effective November 1, 2026, with Matt DiCanio succeeding Keith Newton as CEO, Tanner Newton becoming Executive Vice President and CFO, and Keith Newton transitioning to Executive Chairman.

Other Key Points:

• The Board declared a cash dividend of $0.0625 per share, payable on or about December 4, 2026, to stockholders of record as of November 19, 2026.
• The Board authorized a new 2026 Share Repurchase Program to repurchase up to $250 million of outstanding common stock with no expiration date.
• Repurchased 1.0 million shares of common stock totaling $34.65 million during the quarter.
• Repaid $52.4 million on the term loan due 2031 during the quarter.
• Conference call regarding results and outlook was scheduled for November 6, 2026, at 9 a.m. Eastern Time.