NYSE$ATIP
ATI Physical Therapy Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Second quarter 2022 results reported, with full year 2022 guidance revised due to challenging labor market.
ATI Physical Therapy reported a slight increase in net operating revenue to $163.3 million, a 6% increase quarter over quarter but essentially flat year over year. The company faces headwinds in a tight labor market, leading to revised full-year 2022 guidance and non-cash impairment charges of approximately $128 million.
- Net operating revenue increased by 6% quarter over quarter, remaining flat year over year at $163.3 million.
- Visits per Day (VPD) increased by 6% quarter over quarter and 4% year over year, reaching 22,403.
- The company opened 10 new clinics and closed 6, bringing the total to 926 clinics.
- Full year 2022 guidance was revised due to the challenging labor market and increasing labor cost pressures.
Headline financials
Revenue & EPS history
ATI · Revenue · Quarterly
$163M
Revenue by segment
ATI · $163M total across 2 segments · Q2 2022
- Net Patient Revenue$149M+1.2%90.9%
- Other Revenue$14.8M-14.8%9.1%
Forward guidance
ATI revises full year 2022 guidance for net operating revenue to be in a range of $635 million to $655 million and Adjusted EBITDA to be in a range of $5 million to $15 million. The change in guidance is driven by the challenging labor market reducing the number of clinical FTE expected in the second half of 2022 along with increasing labor cost pressures. The Company maintains new clinic openings guidance to be approximately 35.
Tailwinds
- Company maintains new clinic openings guidance to be approximately 35.
Headwinds
- Challenging labor market reducing the number of clinical FTE expected in the second half of 2022
- Increasing labor cost pressures.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q2 2022
-1.1%
Avg return
Earnings day
-4.5%
Avg return
5 days after
-13.0%
Avg return
30 days after
50%
9 / 18 earnings
Positive
+50.0%
Q4 2022
Best reaction
-43.8%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +4.5% | +0.0% | -5.6% | |
| Q3 2024 | -43.8% | -53.5% | -81.8% | |
| Q2 2024 | -7.3% | -4.9% | -8.6% | |
| Q1 2024 | +1.1% | -13.0% | -27.9% | |
| Q4 2023 | +7.9% | +2.8% | -13.0% | |
| Q3 2023 | +4.7% | -4.5% | -9.5% | |
| Q2 2023 | +2.0% | +15.5% | +20.1% | |
| Q1 2023 | -0.3% | -2.3% | +1.9% | |
| Q4 2022 | +50.0% | +36.0% | +8.8% | |
| Q3 2022 | -37.2% | -37.4% | -73.4% | |
| Q2 2022 | -7.1% | -15.2% | -5.4% | |
| Q1 2022 | +2.7% | -2.1% | -10.6% | |
| Q4 2021 | -9.2% | -8.2% | -4.6% | |
| Q4 2019 | -9.2% | -8.2% | -4.6% | |
| Q3 2021 | +27.6% | +29.5% | +19.2% | |
| Q2 2021 | -6.3% | -6.6% | -12.4% | |
| Q1 2021 | +0.1% | — | — | |
| Q4 2020 | -0.5% | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro