Concentra Group Holdings Parent Q2 Earnings Call Highlights

Revenue rose 10% to $606 million, while adjusted EBITDA increased 22.5% to $140.9 million and adjusted EPS climbed to $0.52 from $0.37.

Growth was supported by higher patient visits, pricing gains, staffing efficiencies and synergies.

Concentra now expects revenue of $2.325 billion–$2.375 billion, adjusted EBITDA of $485 million–$495 million and free cash flow of $220 million–$240 million.

Net leverage fell below 3 times, and the company continues to target eight to 10 new centers this year.

CEO Keith Newton will become executive chairman on Nov. 1, while President and CFO Matt DiCanio will become president and CEO as part of a multiyear succession plan.

Management said the company’s strategy and priorities will remain unchanged.

Concentra reported higher second-quarter revenue, earnings and cash flow, while also announcing that Chief Executive Officer Keith Newton will transition to Executive Chairman on Nov. 1 and President and Chief Financial Officer Matt DiCanio will become President and CEO.

Newton, who has served as CEO for more than a decade and has had a relationship with Concentra spanning more than 30 years, said the change followed a multiyear succession plan developed with the board.

Robert Ortenzio will remain a director after stepping down from the chairman role.

“This transition is the result of a multi-year succession plan that we have worked on with our board of directors,” Newton said.

He said DiCanio had played a central role in the company’s de novo development, acquisitions, integration efforts, initial public offering process and public-company operations.

DiCanio told shareholders the leadership change represents continuity, saying the company’s strategy of serving customers, expanding through new centers and acquisitions, and pursuing operating leverage “will not change on November 1st.”

Concentra reported total revenue of $606 million for the second quarter of 2026, up 10% from $550.8 million in the prior-year quarter.

Excluding contributions from the Pivot acquisition where applicable, revenue was $589.1 million, representing 8% year-over-year growth.

Adjusted EBITDA rose 22.5% to $140.9 million from $115 million a year earlier.

Adjusted EBITDA margin increased to 23.3% from 20.9%, which management attributed to volume and rate growth, staffing efficiencies and operating execution.

The prior-year quarter also included nearly $4 million of estimated Nova acquisition-related integration costs that have since been eliminated through synergies.

Adjusted net income attributable to the company was $66.7 million, compared with $47.7 million in the prior-year period.

Adjusted earnings per share increased to $0.52 from $0.37.

Occupational health segment revenue increased 7.2% to $553.5 million.

Workers’ compensation revenue rose 8.7% to $361.2 million.

Employer services revenue increased 5.1% to $183.2 million.

Onsite Health Clinics revenue climbed 72.1% to $38.8 million; excluding Pivot, the segment grew 27.9%.

Other businesses, including telemedicine, pharmacy operations and related services, generated $13.7 million of revenue, up 13.3%.

Average daily patient visits at occupational health centers increased 2.6% to more than 56,000.

Workers’ compensation visits per day rose 3.7%, while employer services visits increased 1.8%.

Management said workers’ compensation visit growth moderated from the first quarter but remained above long-term averages.

DiCanio cited a resilient blue-collar labor market, market-share gain...