Aveanna Q1 net loss $32M vs prior year net income; revenue up 3.5% to $466.4M

Aveanna Healthcare Holdings, Inc.

2023-Q1 EPS reported -$0.17 revenue$466,413,000

Net loss of $32.0M ($0.17 diluted loss) vs net income of $25.3M ($0.14 diluted EPS) in Q1 2022.
Adjusted EBITDA fell 25% to $28.5M (6.1% of revenue) from $38.0M (8.4%) in Q1 2022.
Revenue increased 3.5% to $466.4M, driven by Private Duty Services (+$22.8M) and Medical Solutions (+$3.6M), partially offset by Home Health & Hospice (-$10.5M).
Company affirms previously issued 2023 guidance; cash of $34.4M and undrawn revolver capacity of $162M as of April 1, 2023.
Free cash flow was $2.9M for Q1 2023; net cash from operations $7.5M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Aveanna Healthcare Holdings, Inc. reported first quarter 2023 (three-month period ended April 1, 2023) results: revenue $466.4 million, net income -$32.0 million, EPS -$0.17. Guidance reaffirmed.

Period: first quarter 2023 (three-month period ended April 1, 2023)
Revenue: $466.4 million
Net income: -$32.0 million
EPS: -$0.17
Guidance: reaffirmed
Result: reported results

Exact text from the filing

in this Item 2.02. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 AVEANNA HEALTHCARE HOLDINGS ANNOUNCES FIRST QUARTER 2023 FINANCIAL RESULTS • Revenue increased 3.5% to $466.4 million, compared to Q1 2022 o Gross margin decreased 0.2% to $144.5 million, compared to Q1 2022 • Net loss was $32.0 million, compared to net income of $25.3 million in Q1 2022 o

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Source: SEC EDGAR

accession 0000950170-23-020776

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