ATI Physical Therapy, Inc. (NYSE:ATIP) shareholders are probably feeling a little disappointed, since its shares fell 3.3% to US$6.14 in the week after its latest quarterly results. It looks like the results were pretty good overall. While revenues of US$188m were in line with analyst predictions, statutory losses were much smaller than expected, with ATI Physical Therapy losing US$0.86 per share. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on ATI Physical Therapy after the latest results.

View our latest analysis for ATI Physical Therapy

Taking into account the latest results, the consensus forecast from ATI Physical Therapy's dual analysts is for revenues of US$748.7m in 2024. This reflects an okay 4.4% improvement in revenue compared to the last 12 months. Losses are predicted to fall substantially, shrinking 25% to US$9.70. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$750.7m and losses of US$12.37 per share in 2024. While the revenue estimates were largely unchanged, sentiment seems to have improved, with the analysts upgrading their numbers and making a considerable decrease in losses per share in particular.

The average price target held steady at US$5.50, seeming to indicate that business is performing in line with expectations.

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. The analysts are definitely expecting ATI Physical Therapy's growth to accelerate, with the forecast 9.0% annualised growth to the end of 2024 ranking favourably alongside historical growth of 5.9% per annum over the past three years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 6.8% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that ATI Physical Therapy is expected to grow much faster than its industry.

The Bottom Line

The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.