Concentra Group Holdings Parent, Inc. is a U.S.-based provider of occupational health solutions. The company delivers a comprehensive suite of occupational and ...
Concentra Group Holdings Parent, Inc. (NYSE: CON) is a leading U.S.-based occupational health company, established in 1979. Headquartered in Addison, Texas, with executive offices also in Mechanicsburg, Pennsylvania, the company operates over 500 occupational health centers and more than 400 onsite clinics across 47 states, making it the largest provider ...Concentra Group Holdings Parent, Inc. (NYSE: CON) is a leading U.S.-based occupational health company, established in 1979. Headquartered in Addison, Texas, with executive offices also in Mechanicsburg, Pennsylvania, the company operates over 500 occupational health centers and more than 400 onsite clinics across 47 states, making it the largest provider in the nation by location count. Concentra delivers a comprehensive suite of services including treatment for work-related injuries, urgent care, diagnostic testing (e.g., drug screening, physicals), preventive health programs, and employer-specific wellness initiatives. Key business segments include Concentra Telemed, a telemedicine platform for remote injury assessment; Concentra Pharmacy, offering pharmaceutical management; and Concentra Medical Compliance Administration, providing third-party drug testing program management. The company employs approximately 13,000 colleagues, including affiliated physicians and clinicians. Financially, Concentra has a market cap of about $4.36 billion, with a price-to-earnings ratio of 17.5, and generates revenue of approximately $2.9 billion. Its EBITDA margin is around 18.7%, and it maintains a debt-to-equity ratio of 4.49, reflecting significant leverage from its 2024 IPO and prior ownership. Leadership is headed by CEO William Keith Newton, who has been with the company since 2007, and the firm is a subsidiary of Select Medical Corporation. Concentra's mission is 'improving the health of America's workforce, one patient at a time.' The company continues to focus on expanding its clinic network and telehealth capabilities to meet evolving employer and worker needs.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$2.2B
+13.9%
+6.4%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$166.4M
-0.1%
+29.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+28.3%
+2.0%
+5.9%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+15.4%
-3.7%
+13.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+7.7%
-12.2%
+21.6%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$197.1M
-6.3%
+1103.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+9.1%
-17.7%
+1031.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
534.6%
-24.5%
-10.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.14x
-20.2%
+9.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning and thank you for joining us today for Concentra Group Holdings Parent, Inc. Earnings Conference Call to discuss the second quarter 2026 results. Speaking today are the company's Chief Executive Officer, Keith Newton; and the company's President and Chief Financial Officer, Matt DeCanio. Management will give you an overview and then open the call for questions. Before we get started, we would like to remind you that this conference call may contain forward-looking statements regarding future events or the future financial performance of the company, including, without limitation, statements regarding operating results, growth opportunities and other statements that refer to Concentra's plans, expectations, strategies, intentions and beliefs. You are hereby cautioned that these forward-looking statements may be affected by the important factors, among others, set forth in Concentra's earnings release and in reports that are filed or furnished to the SEC. Consequently, actual operations and results may differ materially from those discussed in the forward-looking statements. These forward-looking statements are based on the information available to management of Concentra today, and the company assumes no obligation to update these statements as circumstances change. At this time, I will turn the conference call over to Mr. Keith Newton.
William Newton: Good morning, and thank you for joining us today. Before we comment on our second quarter results, I would like to share my perspective on the announcement that was made yesterday afternoon in our press release. After more than a decade as Concentra's Chief Executive Officer and a relationship with a company that has spanned over 30 years, I have decided effective November 1 of this year to transition from the CEO role into a new role at Concentra as its Executive Chairman of the Board. At that time, Matt Dicanio, our President and Chief Financial Officer, will become Concentra's President and Chief Executive Officer. Bob Ortenzio, our current Chairman, will continue to serve on our Board as a Director. Many thanks to Bob for his leadership and guidance over the last 11 years, especially over the last couple of years as a public company. Leading this organization and its more than 13,000 colleagues has been the privilege of my career. I cannot be prouder of what we have accomplished together at Concentra. Today, we stand as the clear leader in occupational health, powered by a best-in-class team that remains focused every day on our mission of improving the health of America's workforce. The company has experienced tremendous growth, particularly over the last decade, driven by the dedication and execution of our teams. Together, we have reached significant milestones throughout our journey, including the successful completion of our IPO in 2024. This transition is the result of a multi-year succession plan that we have worked on with our Board of Directors, and there is no …