Concentra Group Holdings Parent, Inc.

Previous wording

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by the use of words such as “plans,” “expects,” “will,” “anticipates,” “estimates” and other words of similar meaning in conjunction with, among other things: discussions of future operations; expected operating results and financial performance; impact of planned acquisitions and dispositions; our strategy for growth; product development activities; regulatory approvals; market position; market size and opportunity; expenditures; and the effects of the Separation and the Distribution on our business.

Current wording

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by the use of words such as “plans,” “expects,” “will,” “anticipates,” “estimates” and other words of similar meaning in conjunction with, among other things: discussions of future operations; expected operating results and financial performance; impact of planned acquisitions and dispositions; our strategy for growth; product development activities; regulatory approvals; market position; market size and opportunity; expenditures; and the effects of the separation from Select Medical Corporation (“Select”) on our business.

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•Our ability to manage relationships with managed affiliated professional medical groups (“Managed PCs”);

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•Our ability to manage relationships with managed affiliated professional medical groups;

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•The effects of the Separation on our business;

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•The effects of the separation from Select on our business;

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We were founded in 1979 and have grown to be the largest provider of occupational health services in the United States by number of locations. Our national presence enables us to provide access to high-quality care that supports our mission to improve the health of America’s workforce. As of June 30, 2026, we operated 633 stand-alone occupational health centers in 41 states and 415 onsite health clinics at employer worksites in 44 states. We also have expanded our reach via our telemedicine program serving 43 states and the District of Columbia. In total, we deliver services across 46 states and the District of Columbia. Our patients are generally employed by our main customers — employers across the United States.

Current wording

We were founded in 1979 and have grown to be the largest provider of occupational health services in the United States by number of locations. Our national presence enables us to provide access to high-quality care that supports our mission to improve the health of America’s workforce. As of September 30, 2026, we operated 639 stand-alone occupational health centers in 42 states and 423 onsite health clinics at employer worksites in 44 states. We also have expanded our reach via our telemedicine program serving 44 states and the District of Columbia. In total, we deliver services across 46 states and the District of Columbia. Our patients are generally employed by our main customers — employers across the United States.

Previous wording

•Occupational health centers: Our occupational health centers operating segment encompasses the services we deliver at our 633 occupational health center facilities across the United States. In this operating segment, we serve all types of employers, from Fortune 100 companies to small businesses. The occupational health services provided in this operating segment include workers’ compensation and employer services, and we also provide consumer health services.

Current wording

•Occupational health centers: Our occupational health centers operating segment encompasses the services we deliver at our 639 occupational health center facilities across the United States. In this operating segment, we serve all types of employers, from Fortune 100 companies to small businesses. The occupational health services provided in this operating segment include workers’ compensation and employer services, and we also provide consumer health services.

Previous wording

•Onsite health clinics: Our onsite health clinics operating segment delivers occupational health services and/or employer-sponsored primary care services at an employer’s workplace, including mobile health services and episodic specialty testing services — we deliver our services at 415 permanent on-site locations and multiple other employer locations through our episodic services. In this operating segment, we serve medium to large-sized employers.

Current wording

•Onsite health clinics: Our onsite health clinics operating segment delivers occupational health services and/or employer-sponsored primary care services at an employer’s workplace, including mobile health services and episodic specialty testing services — we deliver our services at 423 permanent on-site locations and multiple other employer locations through our episodic services. In this operating segment, we serve medium to large-sized employers.

Previous wording

Revenue increased 10.0% to $606.0 million for the three months ended June 30, 2026, compared to $550.8 million for the three months ended June 30, 2025, driven primarily by organic increases in both volume of patient visits and revenue per visit, as described below, and also due to the acquisition of over 240 onsite locations in June 2025.

Current wording

Revenue increased 8.6% to $622.1 million for the three months ended September 30, 2026, compared to $572.8 million for the three months ended September 30, 2025, driven primarily by organic increases in both volume of patient visits and revenue per visit, as described below.

Previous wording

Our total patient visits increased 2.6% to 3,610,934 for the three months ended June 30, 2026, compared to 3,520,320 visits for the three months ended June 30, 2025. Total VPD volume increased 2.6% to 56,421 for the three months ended June 30, 2026, compared to 55,005 for the three months ended June 30, 2025, primarily due to organic growth. Workers’ compensation VPD volume increased 3.7% to 25,765 from 24,843 and employer services VPD volume increased 1.8% to 29,859 from 29,334, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025.

Current wording

Our total patient visits increased 4.9% to 3,731,956 for the three months ended September 30, 2026, compared to 3,557,697 visits for the three months ended September 30, 2025. Total VPD volume increased 4.9% to 58,312 for the three months ended September 30, 2026, compared to 55,589 for the three months ended September 30, 2025, primarily due to organic growth. Workers’ compensation VPD volume increased 4.2% to 26,407 from 25,335 and employer services VPD volume increased 5.8% to 31,126 from 29,419, for the three months ended September 30, 2026, compared to the three months ended September 30, 2025.

Previous wording

Revenue per visit increased 4.6% to $152.67 for the three months ended June 30, 2026, compared to $145.92 for the three months ended June 30, 2025. We experienced a higher revenue per visit principally due to increases in the reimbursement rates payable pursuant to certain state fee schedules for workers’ compensation visits, as well as increases in our employer services rates, for the three months ended June 30, 2026. Revenue per visit for workers’ compensation visits increased 4.9% to $219.06 from $208.93 and revenue per visit for employer services visits increased 3.2% to $95.84 from $92.85, for the three months ended June 30, 2026, compared to the three months ended June 30, 2025.

Current wording

Revenue per visit increased 3.3% to $152.14 for the three months ended September 30, 2026, compared to $147.31 for the three months ended September 30, 2025. We experienced a higher revenue per visit principally due to increases in the reimbursement rates payable pursuant to certain state fee schedules for workers’ compensation visits, as well as increases in our employer services rates, for the three months ended September 30, 2026. Revenue per visit for workers’ compensation visits increased 3.5% to $219.24 from $211.82 and revenue per visit for employer services visits increased 4.0% to $95.65 from $92.01, for the three months ended September 30, 2026, compared to the three months ended September 30, 2025.

Previous wording

Our cost of services expense includes all direct and indirect support costs related to providing services to our customers. Cost of services expense was $413.9 million, or 68.3% of revenue, for the three months ended June 30, 2026, compared to $389.3 million, or 70.7% of revenue, for the three months ended June 30, 2025. The cost of services expense as a percentage of revenue decreased primarily due to increased staffing efficiencies and Nova expenses that were incurred during the second quarter of 2025 that were eliminated through synergies in 2025, relative to a 10.0% increase in revenue during the period.

Current wording

Our cost of services expense includes all direct and indirect support costs related to providing services to our customers. Cost of services expense was $426.7 million, or 68.6% of revenue, for the three months ended September 30, 2026, compared to $405.5 million, or 70.8% of revenue, for the three months ended September 30, 2025. The cost of services expense as a percentage of revenue decreased primarily due to increased staffing efficiencies across our centers, relative to an 8.6% increase in revenue during the period.

Previous wording

Our general and administrative expense includes corporate overhead such as finance, legal, human resources, marketing, corporate offices, and other administrative areas as well as executive compensation. General and administrative expense was $56.7 million, or 9.4% of revenue, for the three months ended June 30, 2026, compared to $52.9 million, or 9.6% of revenue, for the three months ended June 30, 2025. The decrease in general and administrative expense as a percentage of revenue is primarily due to one-time Nova and Pivot Onsite Innovations expenses that were incurred during the second quarter of 2025, offset by increased personnel costs due to the planned addition of new full-time employees and other non-personnel costs to support the separation from Select and operate as a standalone public company, stock compensation expense, and one-time costs to separate from Select.

Current wording

Our general and administrative expense includes corporate overhead such as finance, legal, human resources, marketing, corporate offices, and other administrative areas as well as executive compensation. General and administrative expense was $60.9 million, or 9.8% of revenue, for the three months ended September 30, 2026, compared to $52.9 million, or 9.2% of revenue, for the three months ended September 30, 2025. The increase in general and administrative expense as a percentage of revenue is primarily due to increased personnel costs due to the planned addition of new full-time employees and other non-personnel costs to support the separation from Select and operate as a standalone public company, stock compensation expense, and one-time costs to separate from Select.

Previous wording

Depreciation and amortization expense was $19.9 million for the three months ended June 30, 2026, compared to $19.0 million for the three months ended June 30, 2025. The increase was primarily due to recent growth through de novos and acquisitions.

Current wording

Depreciation and amortization expense was $20.2 million for the three months ended September 30, 2026, compared to $19.9 million for the three months ended September 30, 2025. The increase was primarily due to recent growth through de novos and acquisitions.

Previous wording

For the three months ended June 30, 2026, we had interest expense of $25.7 million, compared to $28.2 million for the three months ended June 30, 2025. The decrease in interest expense was primarily due to the amortization of the term loan and the $85 million in borrowings on the Revolving Credit Facility as of June 30, 2025, which were fully repaid by October 2025.

Current wording

For the three months ended September 30, 2026, we had interest expense of $25.2 million, compared to $28.7 million for the three months ended September 30, 2025. The decrease in interest expense was primarily due to the amortization of the term loan combined with the $85 million in borrowings on the Revolving Credit Facility incurred in the first half of 2025, of which $35 million was outstanding as of September 30, 2025 and was fully repaid in October 2025. In addition, interest expense decreased as a result of a 25-basis point step down in the leverage-based pricing grid on the term loan in August 2026 due to a lower leverage ratio.

Previous wording

We recorded income tax expense of $22.0 million for the three months ended June 30, 2026, which represented an effective tax rate of 24.7%. We recorded income tax expense of $15.2 million for the three months ended June 30, 2025, which represented an effective tax rate of 24.7%. Our income tax expense is computed based on annual estimates, which we allocate throughout the year based on our income. This intra-period tax allocation may cause our effective tax rate to reflect variances when compared to the prior year, as estimates of our annual income and the components of our income tax expense change throughout the year.

Current wording

We recorded income tax expense of $22.3 million for the three months ended September 30, 2026, which represented an effective tax rate of 24.7%. We recorded income tax expense of $16.0 million for the three months ended September 30, 2025, which represented an effective tax rate of 24.3%. Our income tax expense is computed based on annual estimates, which we allocate throughout the year based on our income. This intra-period tax allocation may cause our effective tax rate to reflect variances when compared to the prior year, as estimates of our annual income and the components of our income tax expense change throughout the year.

Previous wording

Revenue increased 11.8% to $1,175.6 million for the six months ended June 30, 2026, compared to $1,051.5 million for the six months ended June 30, 2025, driven primarily by organic increases in both volume of patient visits and revenue per visit, as described below, as well as a $28.7 million increase in revenue related to the acquisition of Pivot in June 2025, and a $22.7 million increase in revenue related to the acquisition of Nova in March 2025.

Current wording

Revenue increased 10.7% to $1,797.7 million for the nine months ended September 30, 2026, compared to $1,624.3 million for the nine months ended September 30, 2025, driven primarily by organic increases in both volume of patient visits and revenue per visit, as described below, as well as a $28.9 million increase in revenue related to the acquisition of Onsite Innovations, LLC (“Pivot Onsite Innovations”) in June 2025, and a $29.3 million increase in revenue related to the acquisition of Nova Medical Centers (“Nova”) in March 2025.

Previous wording

Our total patient visits increased 4.5% to 7,030,025 for the six months ended June 30, 2026, compared to 6,724,688 visits for the six months ended June 30, 2025. Total VPD volume increased 4.5% to 55,355 for the six months ended June 30, 2026, compared to 52,950 for the six months ended June 30, 2025, primarily due to an increase in workers’ compensation and employer services visits. Workers’ compensation VPD volume increased 6.5% to 25,451 from 23,897 and employer services VPD volume increased 3.2% to 29,052 from 28,140, for the six months ended June 30, 2026, compared to the six months ended June 30, 2025.

Current wording

Our total patient visits increased 4.7% to 10,761,981 for the nine months ended September 30, 2026, compared to 10,282,385 visits for the nine months ended September 30, 2025. Total VPD volume increased 4.7% to 56,345 for the nine months ended September 30, 2026, compared to 53,834 for the nine months ended September 30, 2025, primarily due to organic growth. Workers’ compensation VPD volume increased 5.7% to 25,771 from 24,379 and employer services VPD volume increased 4.1% to 29,747 from 28,569, for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025.

Previous wording

Revenue per visit increased 3.9% to $152.08 for the six months ended June 30, 2026, compared to $146.41 for the six months ended June 30, 2025. We experienced a higher revenue per visit principally due to increases in the reimbursement rates payable pursuant to certain state fee schedules for workers’ compensation visits, as well as increases in our employer services rates, for the six months ended June 30, 2026. Revenue per visit for workers’ compensation visits increased 3.5% to $216.22 from $209.00 and revenue per visit for employer services visits increased 3.0% to $96.36 from $93.59, for the six months ended June 30, 2026, compared to the six months ended June 30, 2025.

Current wording

Revenue per visit increased 3.7% to $152.10 for the nine months ended September 30, 2026, compared to $146.72 for the nine months ended September 30, 2025. We experienced a higher revenue per visit principally due to increases in the reimbursement rates payable pursuant to certain state fee schedules for workers’ compensation visits, as well as increases in our employer services rates, for the nine months ended September 30, 2026. Revenue per visit for workers’ compensation visits increased 3.5% to $217.26 from $209.98 and revenue per visit for employer services visits increased 3.3% to $96.11 from $93.04, for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025.

Previous wording

Our cost of services expense includes all direct and indirect support costs related to providing services to our customers. Cost of services was $813.0 million, or 69.2% of revenue, for the six months ended June 30, 2026, compared to $746.4 million, or 71.0% of revenue, for the six months ended June 30, 2025. The percentage of revenue decreased primarily due to increased staffing efficiencies and Nova expenses that were incurred during the six months ended of 2025 that were eliminated through synergies in 2025, relative to an 11.8% increase in revenue during the period.

Current wording

Our cost of services expense includes all direct and indirect support costs related to providing services to our customers. Cost of services was $1,239.7 million, or 69.0% of revenue, for the nine months ended September 30, 2026, compared to $1,152.0 million, or 70.9% of revenue, for the nine months ended September 30, 2025. The percentage of revenue decreased primarily due to increased staffing efficiencies and Nova expenses that were incurred during the nine months ended September 30, 2025 that were eliminated through synergies in 2025, relative to a 10.7% increase in revenue during the period.

Previous wording

General and administrative expense includes corporate overhead such as finance, legal, human resources, marketing, corporate offices, and other administrative areas as well as executive compensation. Our general and administrative expenses were $112.0 million, or 9.5% of revenue, for the six months ended June 30, 2026, compared to $99.6 million, or 9.5% of revenue, for the six months ended June 30, 2025. General and administrative expense as a percentage of revenue remained flat compared to prior period primarily due to one-time Nova and Pivot Onsite Innovations expenses that were incurred during 2025, offset by increased personnel costs due to the planned addition of new full-time employees and other non-personnel costs to support the separation from Select and operate as a standalone public company, stock compensation expense, and one-time costs to separate from Select.

Current wording

General and administrative expense includes corporate overhead such as finance, legal, human resources, marketing, corporate offices, and other administrative areas as well as executive compensation. Our general and administrative expenses were $172.9 million, or 9.6% of revenue, for the nine months ended September 30, 2026, compared to $152.5 million, or 9.4% of revenue, for the nine months ended September 30, 2025. General and administrative expense as a percentage of revenue increased compared to prior period primarily due to increased personnel costs due to the planned addition of new full-time employees and other non-personnel costs to support the separation from Select and operate as a standalone public company, stock compensation expense, and one-time costs to separate from Select.

Previous wording

Depreciation and amortization expense was $39.5 million for the six months ended June 30, 2026, compared to $35.6 million for the six months ended June 30, 2025. The increase was primarily due to recent growth through de novos and acquisitions.

Current wording

Depreciation and amortization expense was $59.7 million for the nine months ended September 30, 2026, compared to $55.5 million for the nine months ended September 30, 2025. The increase was primarily due to recent growth through de novos and acquisitions.

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For the six months ended June 30, 2026, we had interest expense of $51.7 million, compared to $53.7 million for the six months ended June 30, 2025. The decrease in interest expense was primarily due to the amortization of the term loan and the $85 million in borrowings on the Revolving Credit Facility as of June 30, 2025, which were fully repaid by October 2025.

Current wording

For the nine months ended September 30, 2026, we had interest expense of $76.9 million, compared to $82.4 million for the nine months ended September 30, 2025. The decrease in interest expense was primarily due to the amortization of the term loan combined with the $85 million in borrowings on the Revolving Credit Facility incurred in the first half of 2025, of which $35 million was outstanding as of September 30, 2025 and was fully repaid in October 2025. In addition, interest expense decreased as a result of a 25-basis point step down in the leverage-based pricing grid on the term loan in August 2026 due to a lower leverage ratio.

Previous wording

We recorded income tax expense of $39.4 million for the six months ended June 30, 2026, which represented an effective tax rate of 24.8%. We recorded income tax expense of $28.4 million for the six months ended June 30, 2025, which represented an effective tax rate of 24.7%. Our income tax expense is computed based on annual estimates, which we allocate throughout the year based on our income. This intra-period tax allocation may cause our effective tax rate to reflect variances when compared to the prior year, as estimates of our annual income and the components of our income tax expense change throughout the year.

Current wording

We recorded income tax expense of $61.6 million for the nine months ended September 30, 2026, which represented an effective tax rate of 24.8%. We recorded income tax expense of $44.4 million for the nine months ended September 30, 2025, which represented an effective tax rate of 24.5%. Our income tax expense is computed based on annual estimates, which we allocate throughout the year based on our income. This intra-period tax allocation may cause our effective tax rate to reflect variances when compared to the prior year, as estimates of our annual income and the components of our income tax expense change throughout the year.

Previous wording

Operating activities provided $156.2 million and $100.1 million of cash flows during the six months ended June 30, 2026 and 2025, respectively. The increase in cash flows from operating activities for the six months ended June 30, 2026, as compared to the six months ended June 30, 2025, was primarily due to an increase in net income from organic growth and through acquisitions and de novos, as well as year-over-year variances in timing associated with payments of current liabilities.

Current wording

Operating activities provided $208.1 million and $160.7 million of cash flows during the nine months ended September 30, 2026 and 2025, respectively. The increase in cash flows from operating activities for the nine months ended September 30, 2026, as compared to the nine months ended September 30, 2025, was primarily due to an increase in net income from organic growth and through acquisitions and de novos.

Previous wording

Investing activities used $29.0 million and $374.3 million of cash flows for the six months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026, the principal uses of cash were $26.8 million for purchases of property and equipment under our capital program to open de novos, upgrade and maintain existing facilities, and technology investments, and $3.8 million for acquisitions of businesses. For the six months ended June 30, 2025, the principal uses of cash were $41.0 million for purchases of property and equipment under our capital program to open de novos, upgrade and maintain existing facilities, Nova start-up capital, and technology investments, and $333.3 million for acquisitions of businesses, which primarily includes the purchase of Nova and Pivot Onsite Innovations.

Current wording

Investing activities used $54.9 million and $394.7 million of cash flows for the nine months ended September 30, 2026 and 2025, respectively. For the nine months ended September 30, 2026, the principal uses of cash were $49.2 million for purchases of property and equipment under our capital program to open de novos, upgrade and maintain existing facilities, and technology investments, and $10.0 million for the acquisition of businesses in Minnesota and California. This was partially offset by $4.3 million of proceeds from the sale of previously owned buildings. For the nine months ended September 30, 2025, the principal uses of cash were $62.2 million for purchases of property and equipment under our capital program to open de novos, upgrade and maintain existing facilities, Nova start-up capital, and technology investments, and $333.3 million for acquisitions of businesses, which primarily includes the purchases of Nova and Pivot Onsite Innovations.

Previous wording

Financing activities used $49.0 million and provided $164.8 million of cash flows for the six months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2026, the principal uses of cash were repurchases of common stock of $26.0 million, dividends paid to common stockholders of $16.0 million and payments on the term loan of $4.8 million. For the six months ended June 30, 2025, the principal sources of cash were due to the updated term loan, net of issuance costs of $948.8 million and from borrowings on our Revolving Credit Facility of $85.0 million. This was partially offset by payment of the original term loan of $850.3 million and dividends paid to common stockholders of $16.0 million.

Current wording

Financing activities used $147.3 million and provided $100.7 million of cash flows for the nine months ended September 30, 2026 and 2025, respectively. For the nine months ended September 30, 2026, the principal uses of cash were repurchases of common stock of $60.6 million, payments on the term loan of $57.1 million, which included a $50.0 million voluntary prepayment, dividends paid to common stockholders of $24.0 million, and distributions to non-controlling interests of $5.5 million. For the nine months ended September 30, 2025, the principal sources of cash were due to the updated term loan net proceeds of $948.8 million, and from borrowings on our Revolving Credit Facility of $85.0 million. This was partially offset by payment of the original term loan of $852.6 million, voluntary revolver repayments of $50.0 million, dividend payments of $24.0 million to stockholders, and distributions to non-controlling interests of $4.5 million.

Previous wording

We had net working capital of $138.5 million at June 30, 2026, compared to net working capital of $45.9 million at December 31, 2025. The increase in the net working capital surplus was principally due to a significant increase in cash and an increase in accounts receivable.

Current wording

We had net working capital of $106.7 million at September 30, 2026, compared to net working capital of $45.9 million at December 31, 2025. The increase in net working capital was primarily attributable to a significant increase in accounts receivable, due principally to increased revenue per day.

Previous wording

At June 30, 2026, the Company had $430.2 million of availability under its Revolving Credit Facility, after giving effect to $19.8 million of outstanding letters of credit. At June 30, 2026, the Company had no outstanding borrowings under its Revolving Credit Facility.

Current wording

At September 30, 2026, the Company had $430.3 million of availability under its Revolving Credit Facility, after giving effect to $19.7 million of outstanding letters of credit. At September 30, 2026, the Company had no outstanding borrowings under its Revolving Credit Facility.

Previous wording

The Credit Facilities require CHSI to maintain a leverage ratio (as defined in the Credit Agreement), which is tested quarterly and currently must not be greater than 6.5 to 1.0. As of June 30, 2026, CHSI’s leverage ratio was 2.99x.

Current wording

The Credit Facilities require CHSI to maintain a leverage ratio (as defined in the Credit Agreement), which is tested quarterly and currently must not be greater than 6.5 to 1.0. As of September 30, 2026, CHSI’s leverage ratio was 2.90x.

Previous wording

At June 30, 2026, the Company had $650.0 million of the Senior Notes outstanding (excluding unamortized premium and debt issuance costs of $9.6 million).

Current wording

At September 30, 2026, the Company had$650.0 million of the Senior Notes outstanding (excluding unamortized premium and debt issuance costs of $9.2 million).

Previous wording

On March 3, 2025 we entered into derivative swap and collar contracts to mitigate our exposure to variable Term Secured Overnight Financing Rate (“Term SOFR”) interest rates, which expire on February 29, 2028. The derivative swap contract limits the Term SOFR rate to a fixed rate of 3.829% on $300.0 million of principal outstanding under our Term Loan. We also entered into a derivative collar contract, which limits the Term SOFR rate to a cap of 4.500% and floor of 3.001% on $300.0 million of principal outstanding under our Term Loan. These derivative contracts limit our Term SOFR variable interest exposure on our $938.1 million Term Loan.

Current wording

On March 3, 2025 we entered into derivative swap and collar contracts to mitigate our exposure to variable Term Secured Overnight Financing Rate (“Term SOFR”) interest rates, which expire on February 29, 2028. The derivative swap contract limits the Term SOFR rate to a fixed rate of 3.829% on $300.0 million of principal outstanding under our Term Loan. We also entered into a derivative collar contract, which limits the Term SOFR rate to a cap of 4.500% and floor of 3.001% on $300.0 million of principal outstanding under our Term Loan. These derivative contracts limit our Term SOFR variable interest exposure on our $885.8 million Term Loan.

Previous wording

We believe our internally generated cash flows and borrowing capacity under our Revolving Credit Facility will allow us to finance our operations in both the short and long term. As of June 30, 2026, we had cash of $158.0 million and $430.2 million of availability under our Revolving Credit Facility, after giving effect to $19.8 million of outstanding letters of credit.

Current wording

We believe our internally generated cash flows and borrowing capacity under our Revolving Credit Facility will allow us to finance our operations in both the short and long term. As of September 30, 2026, we had cash of $85.8 million and $430.3 million of availability under our Revolving Credit Facility, after giving effect to $19.7 million of outstanding letters of credit.

Previous wording

On November 5, 2025, the Board of Directors authorized a share repurchase program to repurchase up to $100 million of the Company’s outstanding common stock. The share repurchase program will expire on December 31, 2027, unless extended or terminated by the Board of Directors. Stock repurchases under this program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as the Board of Directors deems appropriate. The Company will fund the share repurchase program with cash on hand. The authorization of the share repurchase program does not obligate the Company to repurchase any shares.

Current wording

On November 5, 2025, the Company’s Board of Directors (the “Board of Directors”) authorized a share repurchase program to repurchase up to $100 million of the Company’s outstanding common stock (the “2025 Share Repurchase Program”). The 2025 Share Repurchase Program will expire on December 31, 2027, unless extended or terminated by the Board of Directors. Stock repurchases under the 2025 Share Repurchase Program may be made in the open market or through privately negotiated transactions, and at times and in such amounts as the Board of Directors deems appropriate. The Company will fund the 2025 Share Repurchase Program with cash on hand. The authorization of the 2025 Share Repurchase Program does not obligate the Company to repurchase any shares.

Previous wording

During the three and six months ended June 30, 2026, the Company repurchased 0.4 million and 1.1 million shares of common stock under the share repurchase program for $10.9 million and $25.9 million, respectively, excluding commissions paid and excise taxes. All repurchased shares were permanently retired. As of June 30, 2026, the Company’s remaining authorization to repurchase shares under the program was $54.1 million.

Current wording

During the three and nine months ended September 30, 2026, the Company repurchased 1.0 million and 2.1 million shares of common stock under the 2025 Share Repurchase Program for $34.7 million and $60.6 million respectively, excluding commissions paid and excise taxes. All repurchased shares were permanently retired. As of September 30, 2026, the Company’s remaining authorization to repurchase shares under the 2025 Share Repurchase Program was $19.4 million.

Previous wording

On February 25, 2026 and May 5, 2026, the Board of Directors declared a cash dividend of $0.0625 per share. On March 19, 2026 and June 9, 2026, cash dividends of approximately $8.0 million were paid on each payment date, for a total of approximately $16.0 million paid in 2026.

Current wording

On February 25, 2026, May 5, 2026, and August 5, 2026, the Board of Directors declared a cash dividend of $0.0625 per share. On March 19, 2026, June 9, 2026, and August 28, 2026, cash dividends of approximately $8.0 million were paid on each payment date, for a total of approximately $24.0 million paid in 2026.