AdaptHealth’s Q4 Core Earnings Fall Short Of Expectations, Trims Annual Guidance

• AdaptHealth Corp (NASDAQ: AHCO) delivered Q4 revenue of $780.28 million, +11.1% Y/Y, including non-acquired growth of 5.3%, missing the consensus of $788.09 million.

• Adjusted EBITDA was $146.0 million, a decrease of 7.7%.

• “We are disappointed that Adjusted EBITDA fell short of our full-year guidance due primarily to larger impacts from revenue mix and cost pressures than we previously expected…We are confident that management will execute new cost containment programs to ensure we deliver on our updated guidance,” Steve Griggs, Chief Executive Officer, commented.

• The company reported an EPS loss of $(0.02), down from $0.16 a year ago and the consensus of $0.31.

• Guidance: AdaptHealth revised FY23 sales to $3.160-$3.240 billion, down from previously $3.210-$3.290 billion, below the consensus of $3.25 billion

• Adjusted EBITDA of $650 million to $710 million compared to previously $690 million to $750 million.

• Total capital expenditures represent 10-12% of net revenue (previously 9-11%).

• Price Action: AHCO shares are down 21.50% at $17.26 during the premarket session on the last check Tuesday.

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This article AdaptHealth’s Q4 Core Earnings Fall Short Of Expectations, Trims Annual Guidance originally appeared on Benzinga.com

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