Encompass Health ( (EHC) ) has realeased its Q3 earnings. Here is a breakdown of the information Encompass Health presented to its investors.
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Encompass Health Corporation is the largest owner and operator of inpatient rehabilitation hospitals in the United States, providing advanced rehabilitative care for patients recovering from major injuries or illnesses across a vast network of 165 hospitals in 38 states and Puerto Rico.
Encompass Health has released its financial results for the third quarter of 2024, reporting a significant increase in revenue and profitability. The company has also updated its full-year guidance to reflect higher expectations, showcasing robust growth despite challenging conditions.
The company reported a 11.9% increase in net operating revenue, reaching $1.351 billion, primarily driven by an 8.8% growth in discharges and a 2.5% increase in net patient revenue per discharge. Additionally, Encompass Health’s adjusted EBITDA rose by 13.4% to $269.3 million, and cash flows from operating activities increased by 24.4% to $267.8 million. The company attributes these improvements to strong discharge growth and effective management through adverse conditions such as hurricanes.
Moreover, Encompass Health has revised its full-year 2024 guidance, now projecting net operating revenue between $5.325 billion and $5.375 billion, and adjusted earnings per share from continuing operations in the range of $4.19 to $4.33, reflecting a positive outlook for the remainder of the year.
Looking ahead, Encompass Health remains committed to expanding its services and maintaining its position as a leader in the inpatient rehabilitation sector, focusing on delivering high-quality care and optimizing financial performance, even amidst ongoing industry challenges.
