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The Joint (JYNT) 2022 Visits Grow to 12.2M, Adds New Clinics
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The Joint Corp. (JYNT - Free Report) recently provided 2022 operating metrics, showing clear signs of growth. Geographical expansion is expected to have played a major role in the increase in sales and patient visits. From 706 clinics at 2021-end, JYNT grew the number of total clinics to 838, of which 126 are company-owned and 712 are franchised operations.
For 2022, The Joint targeted 110-130 franchised clinic openings, up from the 2021 figure of 110, and managed to open 121 clinics. It also opened 16 corporate greenfield units. The total clinics added of 137 was higher than the 2021 level of 130 clinics. While it acquired 16 franchised clinics, the company closed five units to boost profitability.
Full-year patient visits grew to 12.2 million in 2022 from 10.9 million a year ago. New patients treated were 845,000 for the year, up from the year-ago level of 807,000. JYNT’s system-wide sales rose 21%, which was lower than historical trends. Similarly, a 9% comp sales increase was lower than historical trends. However, it managed to grow the business and sell 75 franchise licenses despite ongoing economic pressures triggered by inflation, consumer uncertainty and rising interest rates.
JYNT’s fast-growing network is commendable. In 2022, the clinic network grew 19% year over year. The new clinics are expected to boost The Joint’s performance in the long term. However, the company might witness some hiccups with rising cost levels in the short term.
The Zacks Consensus Estimate for current-year earnings is pegged at 11 cents per share, indicating a decline of 77.1% from the year-ago reported figure. The bottom line has witnessed no movements in the past week. The consensus mark for 2022 revenues is pegged at $101.5 million, signaling a 25.1% year-over-year jump. It plans to report fourth-quarter 2022 financial results on Mar 9, 2023, after the closing bell.
Price Performance
Shares of JYNT have declined 66.6% in the past year against the 6.3% rise of the industry it belongs to.
The Zacks Consensus Estimate for Biodesix’s 2022 earnings indicates an 11.4% improvement from the prior-year reported number. BDSX has witnessed one upward estimate revision in the past 60 days against none in the opposite direction.
The Zacks Consensus Estimate for MedAvail Holdings’ 2022 bottom line indicates a 37.3% improvement from the prior-year reported number. MDVL has witnessed one upward estimate revision in the past 60 days against none in the opposite direction.
The Zacks Consensus Estimate for AMN Healthcare’s 2022 bottom line indicates a 44% improvement from the prior-year reported number. The consensus estimate for AMN’s top line suggests 30.1% year-over-year growth.
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The Joint (JYNT) 2022 Visits Grow to 12.2M, Adds New Clinics
The Joint Corp. (JYNT - Free Report) recently provided 2022 operating metrics, showing clear signs of growth. Geographical expansion is expected to have played a major role in the increase in sales and patient visits. From 706 clinics at 2021-end, JYNT grew the number of total clinics to 838, of which 126 are company-owned and 712 are franchised operations.
For 2022, The Joint targeted 110-130 franchised clinic openings, up from the 2021 figure of 110, and managed to open 121 clinics. It also opened 16 corporate greenfield units. The total clinics added of 137 was higher than the 2021 level of 130 clinics. While it acquired 16 franchised clinics, the company closed five units to boost profitability.
Full-year patient visits grew to 12.2 million in 2022 from 10.9 million a year ago. New patients treated were 845,000 for the year, up from the year-ago level of 807,000. JYNT’s system-wide sales rose 21%, which was lower than historical trends. Similarly, a 9% comp sales increase was lower than historical trends. However, it managed to grow the business and sell 75 franchise licenses despite ongoing economic pressures triggered by inflation, consumer uncertainty and rising interest rates.
JYNT’s fast-growing network is commendable. In 2022, the clinic network grew 19% year over year. The new clinics are expected to boost The Joint’s performance in the long term. However, the company might witness some hiccups with rising cost levels in the short term.
The Zacks Consensus Estimate for current-year earnings is pegged at 11 cents per share, indicating a decline of 77.1% from the year-ago reported figure. The bottom line has witnessed no movements in the past week. The consensus mark for 2022 revenues is pegged at $101.5 million, signaling a 25.1% year-over-year jump. It plans to report fourth-quarter 2022 financial results on Mar 9, 2023, after the closing bell.
Price Performance
Shares of JYNT have declined 66.6% in the past year against the 6.3% rise of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
The Joint currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are Biodesix, Inc. (BDSX - Free Report) , MedAvail Holdings, Inc. and AMN Healthcare Services, Inc. (AMN - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Biodesix’s 2022 earnings indicates an 11.4% improvement from the prior-year reported number. BDSX has witnessed one upward estimate revision in the past 60 days against none in the opposite direction.
The Zacks Consensus Estimate for MedAvail Holdings’ 2022 bottom line indicates a 37.3% improvement from the prior-year reported number. MDVL has witnessed one upward estimate revision in the past 60 days against none in the opposite direction.
The Zacks Consensus Estimate for AMN Healthcare’s 2022 bottom line indicates a 44% improvement from the prior-year reported number. The consensus estimate for AMN’s top line suggests 30.1% year-over-year growth.