secwatch / observer
8-K filed November 7, 2023, 6:59 PM ET ticker EHAB CIK 0001803737
earnings confidence high sentiment negative materiality 0.80

Enhabit, Inc. (EHAB): debt financing — Enhabit Q3 net loss $2.4M; cuts 2023 guidance; amends credit covenant to 6.75x

Enhabit, Inc.

2023-Q3 EPS reported -$1.48 revenue$785,700,000

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Enhabit, Inc. amended revolving credit of from $350 million to $220 million with Wells Fargo Bank, National Association at increase of 0.25% in the applicable interest rate margins.

Instrument
revolving credit
Principal
from $350 million to $220 million
Counterparty
Wells Fargo Bank, National Association
Rate
increase of 0.25% in the applicable interest rate margins
Event
amendment
Exact text from the filing
Ratio (as defined in the Credit Agreement) covenant until the end of the Covenant Adjustment Period; (iv) a permanent reduction in the revolving credit facility commitment from $350 million to $220 million; (v) an increase in the Applicable Commitment Fee (as defined in the Credit Agreement) during the Covenant Adjustment Period; (vi) suspension of the ability of
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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Enhabit, Inc. reported the third quarter ended September 30, 2023 results: revenue Net service revenue of $258.3 million, net income Net loss attributable to Enhabit, Inc. of $2.4 million, EPS Loss per share of $0.05. Guidance lowered.

Period
the third quarter ended September 30, 2023
Revenue
Net service revenue of $258.3 million
Net income
Net loss attributable to Enhabit, Inc. of $2.4 million
EPS
Loss per share of $0.05
Guidance
lowered
Result
reported results
Exact text from the filing
of quality results within the industry and are willing to pay for access to high-quality providers like Enhabit.” QUARTERLY PERFORMANCE - CONSOLIDATED • Net service revenue of $258.3 million • Net loss attributable to Enhabit, Inc. of $2.4 million • Adjusted EBITDA of $23.2 million • Loss per share of $0.05 • Adjusted earnings per share of $0.03 RECENT COMPANY
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Enhabit, Inc. amended Second Amendment with Wells Fargo Bank, National Association, as administrative agent, collateral agent, and swingline lender, and other lenders party thereto (effective 2023-11-03).

Action
amendment
Agreement
credit facility
Counterparty
Wells Fargo Bank, National Association, as administrative agent, collateral agent, and swingline lender, and other lenders party thereto
Effective
2023-11-03
Exact text from the filing
On November 3, 2023, Enhabit Inc. (the “Company”) entered into a Second Amendment (the “Second Amendment”) to the Credit Agreement, dated as of June 1, 2022, among the Company, Wells Fargo Bank, National Association, as administrative agent, collateral agent, and swingline lender, and other lenders party thereto, as previously amended by the First Amendment to Credit Agreement (the “First Amendment”) dated as of June 27, 2023 (such credit agreement, as amended to date, the “Credit Agreement”).
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102 debt financings filed in the last 30 days. Browse all debt financings →

Enhabit, Inc. filing history →

Source: SEC EDGAR
accession 0001803737-23-000158
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