Guardian Pharmacy Services Reports Preliminary Q4 and Full-Year 2024 Results, Provides 2025 Guidance
Guardian Pharmacy Services, Inc. (“Guardian” or the “Company”) (NYSE: GRDN), one of the largest long-term care (LTC) pharmacy services companies in the United States, has announced its preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2024.
The company will discuss these preliminary results and financial guidance during a presentation at the Raymond James & Associates 46th Annual Institutional Investors Conference on March 4, 2025, at 9:50 a.m. ET in Orlando, Florida. A live audio webcast of the presentation will be available on Guardian’s investor relations website, with a replay accessible for 30 days.
CEO Commentary
Fred Burke, President and CEO of Guardian Pharmacy Services, expressed satisfaction with the company’s strong performance in 2024, citing key drivers such as organic growth, strategic acquisitions, and the expansion of seasonal vaccine clinics in LTC facilities.
“We’re proud to report that we ended the year on a strong note, exceeding our expectations for the fourth quarter and full year 2024. The outperformance was driven by strong organic growth, acquisitions, and the new benefit of the seasonal trend related to conducting vaccine clinics in certain long-term care facilities we serve. Looking ahead, we enter 2025 well-positioned for success and we remain committed to meeting the needs of all of the residents we serve,” Burke stated.
Preliminary Fourth Quarter and Full Year 2024 Financial Highlights
Fourth Quarter 2024:
- Revenue: Expected to be approximately $338.6 million, reflecting a 20.5% year-over-year increase, driven by organic business growth and acquisitions of Heartland Pharmacy and Freedom Pharmacy in April and November 2024, respectively.
- Resident Count: Estimated at 186,000 at the quarter’s end, a 14.1% increase year-over-year.
- Net Income: Expected to range between $10.1 million and $11.1 million, down by approximately $3.5 million to $4.5 million year-over-year due to an estimated income tax provision of $5.0 million to $6.0 million.
- Adjusted EBITDA: Anticipated at $25.9 million, marking a 30.3% increase from the prior year.
Full Year 2024:
- Revenue: Expected to reach approximately $1.228 billion, a 17.4% year-over-year increase.
- Net Loss: Expected to range between ($71.8) million and ($72.8) million, primarily due to approximately $131.5 million in share-based compensation expenses linked to Guardian’s Corporate Reorganization and IPO.
- Adjusted EBITDA: Projected at $90.8 million, reflecting a 19.2% increase compared to 2023.
2025 Financial Guidance
Looking forward, Guardian has issued initial financial guidance for the full year ending December 31, 2025:
- Revenue: Expected to be between $1.330 billion and $1.350 billion.
- Adjusted EBITDA: Projected to range from $97.0 million to $101.0 million.
Due to the complexity and variability of factors such as income taxes and share-based compensation, the company has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to net income.
Upcoming Earnings Conference Call
Guardian Pharmacy Services will release its full fourth-quarter and full-year 2024 financial results on March 26, 2025, at 4:30 p.m. ET.
Investors can access the earnings call by dialing:
- U.S. Participants: +1 (646) 564-2877
- International Participants: +1 (800) 549-8228
- Conference ID: 69868
A replay of the call will be available on Guardian’s investor relations website for approximately 60 days following the event.
The preliminary results provided are subject to final accounting procedures and external audit and may change upon the completion of the company’s standard quarter and year-end financial reviews. Additionally, these preliminary results should not replace full, audited financial statements prepared under U.S. Generally Accepted Accounting Principles (GAAP).
About Guardian Pharmacy Services
Guardian Pharmacy Services is a leading long-term care pharmacy services company that provides an extensive suite of technology-enabled services designed to help residents of long-term health care facilities (“LTCFs”) adhere to their appropriate drug regimen, which in turn helps reduce the cost of care and improve clinical outcomes. As of December 31, 2024, our 51 pharmacies served approximately 186,000 residents in approximately 7,000 LTCFs across 38 states.
