P3 Health Partners Inc. (NASDAQ:PIII) shares surged 42.68% to $5.75 in after-hours trading on Thursday after the Nevada-based population health management company posted first-quarter 2026 results, reporting earnings per share of negative $1.72, beating analyst estimates of negative $3.28 by 47.56%.
This marks a stark turnaround from the fourth quarter reported in March, when EPS was negative $23.02, missing estimates by 182.11%.
Sharp Reversal From Year-Ago Loss
P3 Health’s revenue for the quarter ended Mar. 31 rose 4% year-over-year to $386 million, while per-member revenue surged 14%, driven by contract restructuring and rate improvements. Adjusted EBITDA came in at $25.8 million, or $81 per member per month.
Net income of the company was $3 million compared to a $44.2 million net loss in the year-ago quarter.
Raised Guidance
CEO Dr. Aric Coffman credited “two years of deliberate work” in contract restructuring, network concentration, and operational redesign for the turnaround, raising the full-year 2026 adjusted EBITDA guidance midpoint to $40 million.
P3 Health provided full-year 2026 guidance calling for total revenues of $1.50 billion to $1.65 billion and adjusted EBITDA of $20 million to $60 million.
Trading Metrics, Technical Analysis
P3 Health has a market capitalization of $29.17 million, a 52-week high of $11.30 and a 52-week low of $1.52.
The Relative Strength Index (RSI) of PIII stands at 71.93.
The small-cap stock has dropped 51.45% over the past 12 months.
PIII is currently trading at about 26% of its 52-week range, placing it closer to its 52-week low than its high.
Price Action: P3 Health closed the regular session up 12.89% at $4.03, according to Benzinga Pro.
Benzinga’s Edge Stock Rankings indicate that PIII is experiencing long-term consolidation along with medium and short-term upward movement.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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