P3 Health Partners (NASDAQ:PIII) Posts Quarterly Earnings Results, Beats Estimates By $4.03 EPS

P3 Health Partners (NASDAQ:PIII) issued its earnings results on Monday. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($3.96) by $4.03, FiscalAI reports. The firm had revenue of $396.34 million during the quarter, compared to analyst estimates of $384.95 million.

Here are the key takeaways from P3 Health Partners’ conference call:

• P3 raised 2026 Adjusted EBITDA guidance to $90 million–$110 million, with the midpoint increasing to $100 million, after reporting $101 million year to date. However, Q3’s $21 million included about $12 million from favorable or non-cash items; underlying Q3 Adjusted EBITDA was approximately $10 million.
• Medical costs rose in Q3, particularly for outpatient and professional services, with greater pressure in Nevada. Management said it is targeting these costs, while noting normalized year-to-date Medicare Advantage medical expense remained 0.7% below full-year 2025 levels.
• Management reported stronger utilization and quality execution: outpatient prior-authorization effectiveness improved 68% from Q1, the inpatient-to-observation rate rose from 24% to 34%, and blood-pressure and diabetes control measures improved about nine points year over year.
• At-risk membership declined to approximately 105,000 from 116,000 a year earlier, primarily after P3 exited or reduced exposure to arrangements that did not meet its economic thresholds. The company also manages about 28,000 lives through services arrangements that it views as a potential source of future at-risk relationships.
• P3 identified more than $200 million in potential value creation across clinical execution, payer economics, and operating efficiency, primarily within its existing membership base. Management described this as a multi-year opportunity and plans to provide more detail on timing and earnings impact with its 2027 outlook.

P3 Health Partners Stock Down 10.8%

Shares of NASDAQ PIII traded down $0.36 on Wednesday, hitting $3.02. The company had a trading volume of 36,231 shares, compared to its average volume of 408,708. P3 Health Partners has a 12-month low of $1.52 and a 12-month high of $16.89. The firm has a market capitalization of $21.89 million, a P/E ratio of -0.13 and a beta of 1.81. The business has a 50 day moving average of $5.92 and a two-hundred day moving average of $6.58.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PIII. TD Cowen cut their price objective on P3 Health Partners from $13.00 to $4.00 and set a “hold” rating on the stock in a report on Wednesday. Lake Street Capital reiterated a “buy” rating and set a $23.00 target price on shares of P3 Health Partners in a report on Tuesday, August 11th. Finally, Weiss Ratings downgraded shares of P3 Health Partners from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.67.

P3 Health Partners Company Profile

P3 Health Partners Inc. is a physician-led healthcare company focused on value-based care for Medicare Advantage beneficiaries. The company works with primary care physicians, specialists, health plans and community organizations to coordinate care and improve health outcomes while addressing patients’ medical and social needs. Its services include primary care support, care coordination, chronic-condition management, preventive care, medication management and patient navigation. P3’s model uses an integrated care team and data-driven clinical programs to help physicians manage the health of senior populations across the care continuum.