Concentra Group

Shares of Concentra Group Holdings Parent Inc climbed to a record high of $35.94, putting the stock close to its 52-week high; market capitalization is $4.46 billion. Year-to-date the share price is up about 79% and it has risen 67.78% over the past year. For Q2 Concentra reported revenue of $606 million and adjusted earnings per share of $0.52, raised its full-year guidance and cited improved margins and stronger cash flow. S&P Global Ratings upgraded the rating from BB- to BB and also raised certain bond and loan ratings, while adjusted leverage fell to 3.3x with targets of 3x and 2.5x net. » More on de.investing.com

Concentra unveils a planned management change effective November 1, with Matthew DiCanio named president and CEO, Tanner Newton as CFO and Keith Newton as executive chairman. The company reports robust operating momentum with above-target patient growth, nine consecutive quarters of meeting or exceeding goals since the IPO, margin expansion and a net leverage ratio of 2.99 at the end of Q2. Growth drivers include onsite services (revenue > $150 million, organic growth > 20%), accelerated new openings and targeted acquisitions; the separation from Select Medical is nearly complete and provides financial flexibility for M&A and share buybacks. » More on de.investing.com

S&P Global Ratings has raised Concentra’s long-term rating from BB- to BB, and also upgraded the rating on senior secured loans to BB+ and on unsecured bonds to B+. The upgrade was driven by strong operating results, adjusted leverage below 3.5x in the second quarter, and expected improvements to about 3.3x in 2026 and 3.0x in 2027; management’s net-leverage target is 2.5x. S&P praises higher adjusted EBITDA, strong operating cash flows and Concentra’s market-leading position in occupational health, but assigns a stable outlook and warns that persistently high leverage from aggressive M&A or distributions would pose a downgrade risk. » More on de.investing.com