P3 Health Partners Shares Rise After Swinging to a 2Q Profit

Dow Jones

Aug 11

Shares of P3 Health Partners rose after the health management company swung to a second-quarter profit and revenue increased.

The stock was up 34% to $17.21 in after-hours trading. The stock closed up at $12.83 on Monday.

The company posted net income of $7.4 million, or 63 cents a share, compared with a loss of $20.4 million, or $6.23 a share, a year earlier.

Revenue rose 9% to $386 million, driven by improved network economics, rate progression and burden of illness performance.

The company forecast full-year revenue between $1.5 billion and $1.6 billion.

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