Genesis HealthCare Plunge 7% Despite Q1 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/GEN'>Genesis HealthCare (NASDAQ:GEN)</a> shares fell more than 7% intra-day today despite the company reporting its Q1 earnings results, with EPS of $0.46 coming in better than the Street estimate of $0.44. Revenue was $948 million, compared to the Street estimate of $940 million.</p>
<p>According to the analysts at RBC Capital, though the macro and net adds remain a challenge, management remains bullish towards long-term targets as they try to control what they can. As such, management's posture was confident around expanding ARPU and improving retention over the next several quarters.</p>
<p>Cost synergies around Avast are being recognized at an accelerated pace with 2/3 of the $300 million targeted to exit 2024 achieved at this point and any additional savings slated to be reinvested to drive growth.</p>

NASDAQ:GEN