---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-005273"
form_type: "8-K"
ticker: "AHCO"
cik: "0001725255"
company_name: "AdaptHealth Corp."
filed_at: "2023-02-27T23:59:59+00:00"
generated_at: "2026-06-18T23:48:55.828024+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-005273
- form_type: 8-K
- ticker: AHCO
- cik: 0001725255
- company_name: AdaptHealth Corp.
- filed_at: 2023-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1725255/000162828023005273/0001628280-23-005273-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1725255/000162828023005273/ahco-20230227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-005273
- JSON: https://secwatch.observer/filing/0001628280-23-005273.json
- Plain text: https://secwatch.observer/filing/0001628280-23-005273.txt

## Key facts
- Earnings Releases
  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
  source text: 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).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1725255/000162828023005273/0001628280-23-005273-index.htm
- Earnings Releases
  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
  source text: 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%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1725255/000162828023005273/0001628280-23-005273-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1725255/000162828023005273/0001628280-23-005273-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.