NASDAQ$AHCO

AdaptHealth Corp. · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Announced third quarter results and updated 2022 outlook.

AdaptHealth Corp. reported a solid third quarter, capitalizing on strong demand in HME and Sleep product lines, with CPAP patient set-ups near record levels and double-digit growth in the diabetes product line. Operational excellence initiatives partially offset inflationary pressures, leading to sequential margin expansion.

  • Non-acquired net revenue for the third quarter increased 6.1% over the third quarter of 2021.
  • The company is updating its previously issued financial guidance for fiscal year 2022.
  • Total capital expenditures representing 10-12% of net revenue (previously 9-11%).
  • Guidance for fiscal year 2022 does not include any contribution from acquisitions that have not yet closed.

Headline financials

Total Revenue

$756M

Previous: $653M+15.8%
EPS (adj)

$0.11

Previous: $0.20-45.0%
Capital Expenditures

-$249M

Previous: -$140M-77.9%
Free Cash Flow

-$232M

Previous: -$81.6M-184.8%
Net Income

$16.1M

Previous: $58.1M-72.2%
Operating Income

$52.9M

Previous: $75.7M-30.1%
Gross Profit

$110M

Previous: $123M-11.0%
Cash & Equivalents

$111M

Previous: $172M-35.5%
Total Assets

$5.24B

Previous: $5.19B+0.9%
Stock-Based Comp

$5.56M

Previous: $5.37M+3.7%

Revenue & EPS history

AdaptHealth · Revenue · Quarterly

$756M

Q3 2022+15.8%vs Q3 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Forward guidance

The Company is updating its previously issued financial guidance for fiscal year 2022. Total capital expenditures representing 10-12% of net revenue (previously 9-11%). Guidance for fiscal year 2022 does not include any contribution from acquisitions that have not yet closed.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

+0.6%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+1.6%

Avg return

30 days after

52%

16 / 31 earnings

Positive

+34.6%

Q4 2023

Best reaction

-27.9%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-10.0%-13.4%-25.6%
Q4 2025-14.2%-11.1%+10.9%
Q3 2025+17.2%+4.5%+3.2%
Q1 2025+1.7%-1.4%+3.7%
Q4 2024+24.4%+33.1%+24.4%
Q3 2024+0.3%-0.6%-4.2%
Q2 2024-17.2%-14.1%+4.6%
Q1 2024-8.6%-8.8%+4.9%
Q4 2023+34.6%+37.9%+50.9%
Q3 2023-23.1%-18.6%-5.6%
Q2 2023+11.1%+4.4%-19.8%
Q1 2023-8.4%-12.2%-13.8%
Q4 2022-27.9%-27.9%-40.6%
Q3 2022-1.6%+8.4%+4.5%
Q2 2022-8.9%-8.2%-25.7%
Q1 2022+23.7%+42.2%+53.6%
Q4 2021+4.1%+2.3%+2.8%
Q3 2021-5.4%-7.2%-24.1%
Q2 2021+16.4%+13.4%+12.3%
Q1 2021-8.5%-14.9%-10.4%
Q4 2020+2.1%+12.4%+21.7%
Q3 2020+2.6%+0.6%+19.5%
Q2 2020+13.9%+18.0%+7.0%
Q1 2020+1.6%+5.8%+5.5%
Q4 2019+1.8%+1.4%-7.7%
Q3 2019-4.1%-4.9%-3.3%
Q2 2019+0.0%+0.0%-0.6%
Q1 2019+0.0%+0.0%+0.3%
Q4 2018+0.6%+0.7%+1.3%
Q3 2018+0.3%+0.1%+0.4%
Q2 2018+0.0%+0.3%+0.1%
Q1 2018

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