AdaptHealth Corp. · Q4 2022 earnings

Briefing

AdaptHealth reported a net revenue increase of 11.1% and a net loss attributable to AdaptHealth Corp. of $2.6 million for Q4 2022.

AdaptHealth's Q4 2022 results showed an 11.1% increase in net revenue compared to Q4 2021, driven by non-acquired growth of 5.3%. However, the company reported a net loss attributable to AdaptHealth Corp. of $2.6 million, and Adjusted EBITDA decreased by 7.7% compared to the same period last year. The company updated its financial guidance for fiscal year 2023.

• Net revenue increased by 11.1% to $780.3 million compared to Q4 2021.
• Non-acquired growth contributed 5.3% to the net revenue increase.
• Net loss attributable to AdaptHealth Corp. was $2.6 million, or $(0.02) per diluted share.
• Adjusted EBITDA decreased by 7.7% to $146.0 million compared to Q4 2021.

Headline financials

Revenue & EPS history

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).