P3 Health Partners Inc. (PIII) Misses Q4 EPS by 14c, reaffirms guidance

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Go back to P3 Health Partners Inc. (PIII) Misses Q4 EPS by 14c, reaffirms guidance

BTIG Downgrades P3 Health Partners Inc (PIII) to Neutral

April 1, 2024 5:35 AM EDT

BTIG analyst David Larsen downgraded P3 Health Partners Inc (NASDAQ: PIII) from Buy to Neutral.

The analyst comments "On Thursday, 3/28/24 AMC, PIII reported 4Q:23 results. Revenue of $346.9M +34% y/y exceeded BTIG / consensus estimates of $300M / $303M but adjusted EBITDA of ($44.3M) was well below BTIG / consensus estimates of ($8.4M) / ($4M). Given the higher than expected medical claims costs, increases in reserves, lack of visibility, and fairly tight cash position, we are downgrading PIII to Neutral. We worry that with... More