NYSE$EHAB
Enhabit Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Enhabit reported its second quarter 2024 financial results, demonstrating sequential growth and strategic success in home health and hospice segments.
Enhabit, Inc. reported a net service revenue of $260.6 million for Q2 2024, with a net loss attributable to Enhabit, Inc. of $0.2 million. The company achieved adjusted EBITDA of $25.2 million and adjusted EPS of $0.07, showing improvements in key metrics and continued progress in its growth strategies.
- Total admissions grew 6.4% year over year, driven by a 25.2% increase in non-Medicare admissions.
- Adjusted EBITDA increased 5.4% year over year to $25.2 million, reflecting effective cost management and revenue growth.
- Hospice average daily census increased 2.7% year over year, with sequential growth each month since January 2024.
- The company reduced bank debt by $15 million in the quarter and opened a new home health location in Florida.
Headline financials
Revenue & EPS history
Enhabit · Revenue · Quarterly
$261M
Revenue by segment
Enhabit · $261M total across 2 segments · Q4 2024
- Home Health$210M—80.4%
- Hospice$51.1M—19.6%
Forward guidance
Enhabit updated its full-year 2024 guidance, adjusting net service revenue and adjusted EPS ranges while narrowing the adjusted EBITDA range.
Tailwinds
- Adjusted EBITDA guidance range narrowed to $100 million to $106 million, indicating increased confidence in profitability.
- Adjusted EPS guidance increased to $0.19 to $0.37, suggesting improved earnings expectations.
- Continued focus on payor innovation strategy and improved utilization of clinical resources in home health.
- Steady progress in growing hospice census, with average daily census increasing each month since January 2024.
- Recruitment and retention efforts are expected to position the company for long-term growth.
Headwinds
- Net service revenue guidance range lowered to $1,050 million to $1,063 million from previous $1,076 million to $1,102 million.
- Lower Medicare volume in home health due to lower recertifications impacted revenue.
- Increased costs associated with patient supplies, durable medical equipment, and pharmacy in hospice segment.
- Potential impact of regulatory developments on market conditions.
- Risks associated with the ability to attract and retain key management personnel and healthcare professionals.
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 Q2 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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