AdaptHealth reports Q4 net loss, cuts 2023 guidance on cost pressures and revenue mix

AdaptHealth Corp.

2022-FY EPS reported $0.33 revenue$2,970,595,000

Full-year 2022 net revenue up 21% YoY; net income $69.3M ($0.33/diluted) vs $156.2M ($0.67) in 2021.
Q4 net loss $2.6M ($(0.02)/share) vs net income $22.9M ($0.15) in Q4 2021; adjusted EBITDA $146.0M, down 7.7% YoY.
2023 guidance cut: revenue $3.160B-$3.240B (prev $3.210B-$3.290B); adj. EBITDA $650M-$710M (prev $690M-$750M).
CEO cites larger-than-expected revenue mix and cost pressures for EBITDA miss; new cost containment programs planned.
Cash flow from operations $373.9M in 2022, up from $275.7M in 2021.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AdaptHealth Corp. reported fiscal year 2023 results: revenue Net revenue of $3.160 billion to $3.240 billion. Guidance lowered.

Period: fiscal year 2023
Revenue: Net revenue of $3.160 billion to $3.240 billion
Guidance: lowered
Result: guidance update

Exact text from the filing

The Company is updating its initial financial guidance for fiscal year 2023, as follows: • Net revenue of $3.160 billion to $3.240 billion (previously $3.210 billion to $3.290 billion); • Adjusted EBITDA of $650 million to $710 million (previously $690 million to $750 million); • Total capital expenditures representing 10-12% of net revenue (previously 9-11% of net revenue).

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AdaptHealth Corp. reported the fourth quarter of 2022 results: revenue $780.3 million, net income Net loss attributable to AdaptHealth Corp. was $2.6 million, or $(0.02) per diluted share, EPS $(0.02) per diluted share.

Period: the fourth quarter of 2022
Revenue: $780.3 million
Net income: Net loss attributable to AdaptHealth Corp. was $2.6 million, or $(0.02) per diluted share
EPS: $(0.02) per diluted share
Result: reported results

Exact text from the filing

AdaptHealth reported Net revenue of $780.3 million for the fourth quarter of 2022 compared to $702.1 million in the fourth quarter of 2021, an increase of 11.1% including non-acquired growth of 5.3%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AdaptHealth Corp. reported the fiscal year ended December 31, 2022 results: net income Net income attributable to AdaptHealth Corp. was $69.3 million, or $0.33 per diluted share, EPS $0.33 per diluted share.

Period: the fiscal year ended December 31, 2022
Net income: Net income attributable to AdaptHealth Corp. was $69.3 million, or $0.33 per diluted share
EPS: $0.33 per diluted share
Result: reported results

Exact text from the filing

Net income attributable to AdaptHealth Corp. was $69.3 million, or $0.33 per diluted share, compared to $156.2 million, or $0.67 per diluted share, in 2021.

View on SEC.gov

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AdaptHealth Corp. filing history →

Source: SEC EDGAR

accession 0001628280-23-005273

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