NYSE$EHAB
Enhabit Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Enhabit reported a slight decrease in total net service revenue but maintained adjusted EBITDA in the first quarter of 2024, driven by strong non-Medicare admissions in home health and cost management.
Enhabit, Inc. reported first-quarter 2024 financial results with total net service revenue of $262.4 million, a slight decrease from the previous year. Despite the revenue dip, the company maintained consolidated Adjusted EBITDA at $25.3 million, consistent with the prior year, primarily due to strong growth in home health Medicare Advantage admissions and effective cost control.
- Net service revenue decreased by 1.0% year-over-year to $262.4 million.
- Adjusted EBITDA remained flat at $25.3 million compared to the first quarter of 2023.
- Home health non-Medicare admissions increased by 25.2%, driving total admission growth of 5.3% year-over-year.
- General and administrative expenses declined year-over-year, contributing to sustained profitability.
Headline financials
Revenue & EPS history
Enhabit · Revenue · Quarterly
$262M
Revenue by segment
Enhabit · $261M total across 2 segments · Q4 2024
- Home Health$210M—80.4%
- Hospice$51.1M—19.6%
Forward guidance
Enhabit reaffirmed its full-year 2024 guidance, projecting net service revenue between $1,076 million and $1,102 million, Adjusted EBITDA between $98 million and $110 million, and Adjusted EPS between $0.12 and $0.43.
Tailwinds
- Continued focus on operational strategies to drive future growth.
- Anticipated benefits from additional frontline clinicians.
- Expectations of more and better home health payor contracts.
- Continued control over general and administrative expenses.
- Strategic initiatives aimed at increasing admissions in payor innovation contracts.
Headwinds
- Potential impact of payor mix shift to more non-Medicare admissions on consolidated revenue.
- Increased cost of service due to merit and market rate increases.
- Uncertainty regarding the future impact of items outside the company's control on financial performance.
- Potential for litigation, shareholder activism, and standalone transition costs.
- Challenges in predicting the precise impact of market consolidation transactions on results of operations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 14 quarterly earnings reports · overlaid with Q1 2024
+1.9%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+8.6%
Avg return
30 days after
40%
6 / 15 earnings
Positive
+18.2%
Q1 2025
Best reaction
-6.1%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | +0.1% | — | |
| Q4 2025 | +0.0% | +0.0% | +2.9% | |
| Q3 2025 | -6.1% | -2.7% | +13.6% | |
| Q2 2025 | +15.2% | +11.4% | +15.1% | |
| Q1 2025 | +18.2% | +27.7% | +31.7% | |
| Q4 2024 | +1.6% | +2.3% | +13.3% | |
| Q3 2024 | -0.4% | -5.7% | -12.0% | |
| Q2 2024 | +0.0% | -3.1% | +14.8% | |
| Q1 2024 | +0.0% | -5.4% | -13.4% | |
| Q4 2022 | +0.0% | -5.7% | -0.4% | |
| Q3 2023 | +6.1% | +6.7% | +19.3% | |
| Q2 2023 | -2.6% | -2.9% | +5.6% | |
| Q1 2023 | -4.5% | -6.0% | -2.0% | |
| Q3 2022 | -0.1% | +1.9% | +11.3% | |
| Q2 2022 | +1.7% | +5.1% | +20.6% |
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