---
schema_version: "secwatch.filing_event.v1"
accession: "0001803737-23-000158"
form_type: "8-K"
ticker: "EHAB"
cik: "0001803737"
company_name: "Enhabit, Inc."
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T16:54:38.197793+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Enhabit Q3 net loss $2.4M; cuts 2023 guidance; amends credit covenant to 6.75x

## Summary
- Q3 net service revenue $258.3M (down 2.8% YoY); adjusted EBITDA $23.2M (down 26.8%); adjusted EPS $0.03 vs $0.19.
- FY2023 guidance revised: revenue $1,044-1,048M (from $1,057-1,065M), adj. EBITDA $93-98M (from $100-107M).
- Credit amendment raises max leverage to 6.75x through Q1 2024; revolver cut from $350M to $220M.
- Home health total admissions up 1.6% YoY; non-episodic admissions +33.5%; cost per visit +1.1%.
- Hospice revenue down 4% YoY; cost per day up 8.5%; hospice cost per day stabilized QoQ.

## SEC filing metadata
- accession: 0001803737-23-000158
- form_type: 8-K
- ticker: EHAB
- cik: 0001803737
- company_name: Enhabit, Inc.
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1803737/000180373723000158/0001803737-23-000158-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1803737/000180373723000158/ehab-20231103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001803737-23-000158
- JSON: https://secwatch.observer/filing/0001803737-23-000158.json
- Plain text: https://secwatch.observer/filing/0001803737-23-000158.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1803737/000180373723000158/0001803737-23-000158-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1803737/000180373723000158/0001803737-23-000158-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1803737/000180373723000158/0001803737-23-000158-index.htm

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