Concentra Group Holdings (CON) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Concentra published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Concentra reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted Earnings per Share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Concentra was spun off from Select Medical on November 25, 2024. Its adjusted figures exclude separation transaction costs, and general and administrative expense still includes transition services fees paid to Select ($0.4 million in Q3 2026, against $2.7 million a year earlier).
• Matt DiCanio succeeded Keith Newton as president and CEO on November 1, 2026, after the quarter ended. Keith Newton became executive chairman.

Source: Concentra Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Concentra splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Concentra's Occupational health centers revenue was $570 million in Q3 2026, up 8% from $526 million in Q3 2025, 92% of total revenue.
• Concentra's Onsite health clinics revenue was $38.4 million in Q3 2026, up 10% from $34.9 million in Q3 2025, 6% of total revenue.
• Concentra's Other revenue was $14.1 million in Q3 2026, up 18% from $11.9 million in Q3 2025, 2% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Concentra said:

“Concentra raised its financial guidance for 2026.”

“Revenue in the range of $2.360 billion to $2.380 billion”

“Adjusted EBITDA in the range of $505 million to $510 million”

“Free Cash Flow in the range of $220 million to $240 million”

Source: Concentra Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CON forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and GAAP basic and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Concentra's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Concentra, the largest provider of occupational health services in the U.S. by number of locations, earns most of its revenue in its occupational health centers: $569.7 million of the $622.1 million total in Q3 2026. Workers' compensation care brought in $370.5 million of that and employer services, which covers physical examinations and drug and alcohol screening for employers, $190.5 million. Onsite health clinics at employer worksites added $38.4 million. (Concentra Q3 2026 release, Nov 5, 2026; Concentra Form 10-K, 2025, Feb 26, 2026)

Revenue rose 8.6% from $572.8 million, which Concentra attributed mainly to organic growth in both patient visits and revenue per visit. Patient visits rose 4.9% to 3,731,956, or 58,312 a day, with workers' compensation visits per day up 4.2% and employer services visits per day up 5.8%. (Concentra Form 10-Q, Q3 2026, Nov 5, 2026; Concentra Q3 2026 release, Nov 5, 2026)

Revenue per visit rose 3.3% to $152.14. Concentra put that down to higher reimbursement rates under certain state workers' compensation fee schedules and higher employer services rates. A workers' compensation visit averaged $219.24 and an employer services visit $95.65. (Concentra Form 10-Q, Q3 2026, Nov 5, 2026; Concentra Q3 2026 release, Nov 5, 2026)

Concentra ended the quarter with 639 occupational health centers, against 628 a year earlier, after opening three de novo centers and buying a four-center practice in Minnesota, plus 423 onsite health clinics. By center count, about 16% of its centers are in California and 16% in Texas, and no industry makes up more than 10% of its business. (Concentra Q3 2026 release, Nov 5, 2026; Concentra Form 10-K, 2025, Feb 26, 2026)

Concentra's GAAP basic and diluted EPS was $0.52 in Q3 2026, against $0.38, and its Adjusted Earnings per Share was also $0.52, against $0.39. The adjustments are small: $273 thousand of separation transaction costs from its spin-off from Select Medical and $66 thousand of costs for the Nova and Pivot Onsite Innovations acquisitions. (Concentra Q3 2026 release, Nov 5, 2026)

Net income attributable to Concentra rose 36.5% to $65.9 million. Income from operations rose 21.9%, faster than revenue, while interest expense fell to $25.2 million from $28.7 million as Concentra paid down its term loan and repaid revolver borrowings. The effective tax rate was 24.7%, against 24.3%. (Concentra Q3 2026 release, Nov 5, 2026; Concentra Form 10-Q, Q3 2026, Nov 5, 2026)

Concentra repurchased 1.0 million shares for $34.65 million in the quarter, and diluted weighted average shares were 127,104 thousand, against 128,170 thousand. On November 4, 2026 its board authorized a new repurchase program of up to $250 million and declared a dividend of $0.0625 per share. (Concentra Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Concentra publishes a full-year outlook in its release and raised it with these results. It now expects 2026 revenue of $2.360 billion to $2.380 billion, Adjusted EBITDA of $505 million to $510 million, Free Cash Flow of $220 million to $240 million and capital expenditures of $70 million to $80 million, excluding acquisitions. (Concentra Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Concentra, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Concentra's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CON is on is CON a buy or a sell?, what analysts expect next is on the CON forecast, and what the company does is on the Concentra Group Holdings (CON) stock page.

Every number on this page can be traced to a document Concentra published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.