P3 Health Partners ( NASDAQ:PIII – Get Free Report ) posted its quarterly earnings results on Monday. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($3.96) by $4.03, FiscalAI reports. The business had revenue of $396.34 million for the quarter, compared to analyst estimates of $384.95 million.
Here are the key takeaways from P3 Health Partners’ conference call:
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P3 raised 2026 Adjusted EBITDA guidance to $90 million–$110 million , with the midpoint increasing to $100 million, after reporting $101 million year to date. However, Q3’s $21 million included about $12 million from favorable or non-cash items; underlying Q3 Adjusted EBITDA was approximately $10 million.
Medical costs rose in Q3, particularly for outpatient and professional services, with greater pressure in Nevada. Management said it is targeting these costs, while noting normalized year-to-date Medicare Advantage medical expense remained 0.7% below full-year 2025 levels.
Management reported stronger utilization and quality execution: outpatient prior-authorization effectiveness improved 68% from Q1, the inpatient-to-observation rate rose from 24% to...