Concentra Group Holdings Parent, Inc.
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Range $30 – $42
Price Chart
About the company
Concentra Group Holdings Parent, Inc. is a U. S.
- CEO
- William Keith Newton
- IPO
- 2024
- Employees
- 9,983
- HQ
- Addison, TX, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $4.63B
- P/E
- 23.36
- Fwd P/E
- 21.95
- PEG
- 0.75
- P/S
- 2.03
- P/B
- 9.61
- EV/EBITDA
- 14.40
- Div Yield
- 0.69%
- Gross Margin
- 29.31%
- Op Margin
- 16.39%
- Net Margin
- 8.69%
- ROE
- 47.30%
- ROIC
- 10.51%
Latest fiscal year · YoY change
- Revenue
- $2.16B+13.9%
- Gross Profit
- $613.09M+16.1%
- Op Income
- $333.99M
- Net Income
- $166.41M-0.1%
- EPS
- $1.39+6.9%
- OCF Growth
- +1.7%
- FCF Growth
- -6.3%
- 52W High
- $36.71
- 52W Low
- $18.55
- 50D MA
- $34.23
- 200D MA
- $26.71
- Beta
- 0.63
- RSI (14)
- 62
- Avg Volume
- 914.49K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Concentra delivered strong Q2 results, raised full-year 2026 guidance again, and said its CEO transition will be a continuity move rather than a strategy change.· August 7, 2026
- Q2 revenue rose to $606 million, up 10% year over year; adjusted EPS was $0.52 versus $0.37 last year.
- Adjusted EBITDA increased to $140.9 million, with margin expanding to 23.3% from 20.9% a year ago.
- Visit growth remained solid: total patient visits increased 2.6%, work comp visits rose 3.7%, and Employer Services visits increased 1.8%.
- Management raised 2026 guidance for revenue, adjusted EBITDA, and free cash flow while leaving CapEx unchanged.
- Leadership emphasized momentum in de novos, on-site health, and market-share gains, while noting some seasonality and conservatism in the outlook.
Total company revenue was $606 million in Q2 2026 versus $550.8 million in Q2 2025, up 10% year over year; excluding Pivot, revenue was $589.1 million, up 8%. Adjusted EBITDA was $140.9 million versus $115 million a year ago, and adjusted EBITDA margin expanded to 23.3% from 20.9%. Adjusted net income was $66.7 million and adjusted EPS was $0.52, compared with $47.7 million and $0.37 last year. Operating cash flow was $135.2 million versus $88.4 million last year, and free cash flow was $121 million versus $63.2 million. For 2026, management raised revenue guidance to $2.325 billion to $2.375 billion, adjusted EBITDA guidance to $485 million to $495 million, and free cash flow guidance to $220 million to $240 million; CapEx stays at $70 million to $80 million.
Keith Newton framed the CEO succession as a planned handoff after more than a decade in the role, saying Matt DeCanio has been central to Concentra’s growth strategy and that the transition reflects continuity. He said the business is performing exceptionally well, the company is the clear leader in occupational health, and the long-tenured leadership team gives him confidence in the next chapter. He also highlighted that the separation from Select is nearly complete, which should let the company refocus internal resources on higher-value work.
Matt DeCanio emphasized that the company is seeing strong execution across revenue, margins, and cash flow, and that the core strategy remains unchanged. He cited 4.6% revenue per visit growth, 22.5% adjusted EBITDA growth, a 240-basis-point margin expansion to 23.3%, and adjusted EPS growth of about 40% year over year. He also noted $135.2 million of operating cash flow, $121 million of free cash flow, $1.57 billion of debt, $158 million of cash, and net leverage just under 3x, with the Term Loan B spread expected to step down 25 basis points to 175 basis points now that leverage is below 3.25x. He said the company repurchased about 424,000 shares for $11 million, paid $8 million in dividends, and still has about $54 million remaining under the original $100 million buyback authorization.
Analysts pressed on whether the raised guidance was conservative relative to the quarter’s beat, and management said the second half still has several months to go, so they preferred to set a range they felt good about rather than stretch it. Questions also focused on work comp volume strength and whether reshoring, manufacturing, construction, and data center activity could keep visits above long-term low-single-digit growth; management said those trends are early but encouraging and that market-share gains and better customer retention are also helping. There were further questions on margins, with management saying Q2 and Q3 are seasonally the highest-margin quarters and that margins should move up over time as visits, rates, and M&A contribute. Analysts also asked about leverage and deal size; management said the pipeline includes midsized deals, not another Nova-sized acquisition, and that leverage should keep trending toward about 2.5x absent opportunistic M&A and repurchases.
The positive case from this call is that Concentra is still growing revenue, volumes, rates, margins, and cash flow at the same time. Management sounded confident that market-share gains, better retention, de novo expansion, and on-site health momentum can sustain growth, while the balance sheet is improving and separation-related costs are fading out.
The main risks flagged were seasonality, some likely moderation in work comp visit growth from current levels, and uncertainty around how durable the data-center/reshoring lift will prove to be. Management also said Q2 benefitted from some one-time year-over-year items, such as prior Nova integration costs, and that the outlook includes some conservatism because several months remain in the year.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 89.5%
- Shares Outstanding
- 127.96M
- Float Shares
- 114.50M
of shares held by institutions
280 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for CON, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 17.75M | ▲ 686.36K |
| Price T Rowe Associates Inc | 17.72M | ▲ 678.39K |
| Vanguard Group Inc | 12.60M | ▼ 601.30K |
| Vanguard Portfolio Management LLC | 6.82M | ▲ 78.53K |
| Vanguard Capital Management LLC | 5.13M | ▲ 34.30K |
| State Street Corp | 4.84M | ▲ 237.27K |
| Jennison Associates LLC | 3.26M | ▲ 1.08M |
| Dimensional Fund Advisors LP | 3.23M | ▲ 118.44K |
| Geode Capital Management, LLC | 3.10M | ▲ 166.62K |
| Invesco Ltd. | 2.92M | ▲ 255.67K |
| Jpmorgan Chase & Co | 2.78M | ▼ 239.29K |
| Barrow Hanley Mewhinney & Strauss LLC | 2.70M | ▼ 504.77K |
Held by 327 ETFs
Biggest fund positions in CON by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 21, 26 | ORTENZIO ROBERT A | sell | 770,000 |
| Aug 21, 26 | ORTENZIO ROBERT A | sell | 770,000 |
| Aug 21, 26 | ORTENZIO ROBERT A | sell | 150,000 |
| Aug 21, 26 | ORTENZIO ROBERT A | sell | 20,000 |
| Aug 21, 26 | ORTENZIO ROBERT A | sell | 30,000 |
| Aug 21, 26 | ORTENZIO ROBERT A | sell | 30,000 |
| Aug 3, 26 | ORTENZIO ROBERT A | sell | 130,000 |
| Jul 1, 26 | ORTENZIO ROBERT A | sell | 130,000 |
| Jun 1, 26 | ORTENZIO ROBERT A | sell | 130,000 |
| May 8, 26 | ORTENZIO ROBERT A | sell | 130,000 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our CON coverage
Recent articles, reports, and earnings notes.
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