Shares of PACS Group, Inc. ( PACS ) are trading higher Thursday after the healthcare company reported better-than-expected third-quarter results.

PACS shares are testing new highs. See the full story here.

What To Know: The company brought in approximately $1.35 billion in revenue, beating market expectations of $975.65 million. PACS Group ( PACS ) reported earnings per share of 32 cents, which was lower than the market expectation of 33 cents.

Shares were up more than 55% at the time of writing, according to Benzinga Pro.

PACS’s year-to-date revenue was $3.93 billion, an increase of 36.4% year-over-year. The company highlighted that 68% of its skilled nursing portfolio received a four- or five-star CMS Quality Measure Star rating as mature facilities occupancy came in at 94.8%, compared to an industry average of 79%.

The company also ended the quarter with more cash on hand than it had in December of last year, reporting $355.7 million of cash and cash equivalents.

PACS provided guidance for full-year 2025, saying it expects revenue to be in the range of $5.25 billion to $5.35 billion and adjusted EBITDA to be in the range of $480 million to $490 million.

"Since its founding, PACS has been focused on its mission to revolutionize the delivery, leadership, and quality of post-acute care nationally. Our strong third quarter and year-to-date results demonstrate the underlying strength of our business model and the relentless execution of our team to deliver on our mission," said Jason Murray, PACS's CEO.

Following the print, RBC Capital maintained an Outperform rating on PACS Group ( PACS ) and raised its price target to $33.

PACS Price Action: PACS Group ( PACS ) shares were up 56.06%, trading at $26.29 at last check, according to Benzinga Pro.

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