AdaptHealth Q4/FY2023 revenue up 7.7% to $3.2B, net loss $678.9M from goodwill impairment; guides 2024

AdaptHealth Corp.

2023-FY EPS reported -$5.31 revenue$3,200,177,000

FY2023 net revenue $3,200.2M (+7.7% YoY); net loss $678.9M vs $69.3M profit, driven by $830.8M pretax goodwill impairment.
Q4 net revenue $858.2M (+10%); adjusted EBITDA $204.6M (+40.2%).
FY2023 adjusted EBITDA $670.8M (+13%); free cash flow $143.2M vs ($17.6M) prior year.
Initial FY2024 guidance: net revenue $3.25-3.35B, adjusted EBITDA $650-710M, free cash flow $150-180M.
Leverage ratio improved to 3.16x from 3.69x year-end 2022.

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 0.95

AdaptHealth Corp. reported fourth quarter and fiscal year ended December 31, 2023 results: revenue Net revenue was $3,200.2 million, net income Net loss attributable to AdaptHealth Corp. was $678.9 million. Guidance initiated.

Period: fourth quarter and fiscal year ended December 31, 2023
Revenue: Net revenue was $3,200.2 million
Net income: Net loss attributable to AdaptHealth Corp. was $678.9 million
Guidance: initiated
Result: reported results

Exact text from the filing

announced today financial results for the fourth quarter and fiscal year ended December 31, 2023. Full Year 2023 Results and Highlights All comparisons are to the year ended December 31, 2022 unless otherwise stated. • Net revenue was $3,200.2 million compared to $2,970.6 million, an increase of 7.7% driven by non-acquired growth of 7.3%. • Net loss attributable to AdaptHealth Corp. was $678.9 million compared to net income of $69.3 million

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Source: SEC EDGAR

accession 0001628280-24-007032

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