Adapthealth ( (AHCO) ) has released its Q3 earnings. Here is a breakdown of the information Adapthealth presented to its investors.
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AdaptHealth Corp. is a leading provider of healthcare-at-home solutions, offering home medical equipment, medical supplies, and related services across the United States. The company specializes in assisting patients with chronic conditions to maintain their health and manage daily living challenges at home.
In its third-quarter earnings report for 2024, AdaptHealth Corp. announced a slight increase in net revenue to $805.9 million compared to the previous year. The company also reported a positive swing in net income, moving from a significant loss last year to a net income of $22.9 million this quarter.
Key financial metrics for the quarter included an adjusted EBITDA of $164.3 million, reflecting a 1.9% increase from the prior year. Additionally, AdaptHealth achieved a notable improvement in cash flow from operations, reporting $391.4 million year-to-date, up from $325.4 million in 2023. The company also successfully completed the sale of certain custom rehab assets, which contributed to its positive financial performance.
Looking ahead, AdaptHealth has adjusted its financial guidance for 2024, forecasting net revenue between $3.220 billion and $3.260 billion and adjusted EBITDA between $655 million and $675 million. The company remains focused on growth opportunities and investments to enhance its ability to serve patients in their homes.
Overall, AdaptHealth’s management expresses optimism about future growth, driven by strategic initiatives and a commitment to expanding its healthcare-at-home services across the country.
