PACS Group Reports Record Q4 and Full-Year 2025 Performance

Highlights include strong occupancy, improving quality metrics, and conservative balance sheet position

Mar. 3, 2026 at 4:55am

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PACS Group (NYSE:PACS) outlined continued platform growth and 'record performance' in its fourth-quarter and full-year 2025 earnings call, pointing to strong occupancy at mature facilities, improving clinical quality metrics, and a conservative balance sheet position as the company enters 2026. Management also provided 2026 revenue and adjusted EBITDA guidance and discussed acquisition expectations, payer dynamics, and emerging Medicare quality programs.

Why it matters

PACS Group's strong financial and operational results demonstrate its ability to successfully integrate acquisitions, improve quality metrics, and maintain a healthy balance sheet - all of which position the company for continued growth in the skilled nursing and senior care sectors.

The details

In the fourth quarter, PACS reported revenue of $1.36 billion, up 12% year-over-year, and net income of $59.8 million. For the full year 2025, the company reported revenue of $5.29 billion, up 29%, and net income of $191.5 million. Management attributed the performance to occupancy strength, stable skilled mix trends, and disciplined execution across an expanded portfolio of 321 facilities in 17 states. The company also completed eight strategic acquisitions during 2025.

  • PACS Group reported fourth-quarter and full-year 2025 results on February 28, 2026.
  • As of December 31, 2025, the company operated 321 facilities across 17 states.

The players

PACS Group, Inc.

A provider of skilled nursing facilities and assisted living facilities in the United States, as well as senior care and independent facilities. The company was founded in 2013 and is based in Farmington, Utah.

Mark Hancock

Interim CFO of PACS Group.

Jason Murray

CEO of PACS Group.

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