05:03 AM EDT, 08/13/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

PACS Group ( PACS ) shares were up over 11% in premarket activity on Tuesday after the company reported overnight stronger-than-expected jump in Q2 sales and lifted revenue guidance for the full year.

The company reported a Q2 net loss late Monday of $0.07 per diluted share, compared with net income of $0.16 a year ago.

Analysts polled by Capital IQ expected earnings of $0.34.

Revenue for the quarter ended June 30 was $981.85 million, up from $760.66 million a year earlier.

Analysts surveyed by Capital IQ expected $919.2 million.

The company updated its full-year 2024 revenue guidance to $3.85 billion to $3.95 billion from $3.65 billion to $3.75 billion set out previously. Analysts polled by Capital IQ expect $3.77 billion.

Price: 36.00, Change: +3.65, Percent Change: +11.28