NYSE$EHC

Encompass Health Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Encompass Health reported a strong finish to 2022, with full-year results reaching the top end of guidance and patient volume showing strong growth.

Encompass Health Corporation reported its Q4 2022 results, with discharge growth of 7.3% and double-digit earnings growth. The company's full-year results reached the top end of its guidance range. Encompass Health issued full-year 2023 guidance.

  • Net operating revenue growth of 9.1% resulted from volume growth and pricing increases.
  • Total discharge growth for the fourth quarter of 2022 was 7.3% with same-store growth of 4.2%.
  • The increase in cash flows provided by operating activities of 39.1% primarily resulted from higher income from continuing operations attributable to Encompass Health and lower tax payments.
  • The increase in Adjusted EBITDA of 16.4% primarily resulted from revenue growth and lower contract labor and sign-on and shift bonuses.

Headline financials

Total Revenue

$1.14B

Previous: $1.32B-13.8%
EPS (adj)

$0.88

Previous: $0.97-9.3%
Discharges

54.7K

Previous: 51.0K+7.3%
Net patient revenue per discharge

$20.3K

Previous: $19.9K+2.2%
Capital Expenditures

$190M

Previous: $193M-1.4%
Free Cash Flow

$46M

Previous: -$68.8M+166.9%
Net Income

$118M

Previous: $91.6M+28.3%
Operating Income

$151M

Previous: $163M-7.5%
Gross Profit

$1.08B

Previous: $1.26B-14.3%
Cash & Equivalents

$21.8M

Previous: $49.4M-55.9%
Total Assets

$5.64B

Previous: $6.86B-17.9%
Stock-Based Comp

$8.1M

Previous: $11.1M-27.0%

Revenue & EPS history

Encompass Health · Revenue · Quarterly

$1.14B

Q4 2022-13.8%vs Q4 2021
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Forward guidance

The Company provided the following guidance for full-year 2023.Net operating revenue $4,680 to $4,760 (in millions). Adjusted EBITDA $860 to $900 (in millions). Adjusted earnings per share from continuing operations attributable to Encompass Health $2.87 to $3.16

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 Q4 2022

Historical avgQ4 2022

+1.2%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+2.5%

Avg return

30 days after

64%

42 / 66 earnings

Positive

+11.8%

Q1 2025

Best reaction

-9.0%

Q1 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.1%+5.0%+6.0%
Q4 2025+5.9%+13.9%+7.4%
Q3 2025-6.9%-6.8%-7.5%
Q1 2025+11.8%+15.4%+17.2%
Q4 2024+1.3%-0.6%+0.7%
Q3 2024+7.0%+5.8%+10.0%
Q2 2024-8.7%-7.5%+1.0%
Q1 2024+0.3%+1.4%+2.5%
Q4 2023+1.7%+1.9%+5.9%
Q3 2023-1.9%+0.9%+6.7%
Q2 2023+5.0%+6.4%+7.6%
Q1 2023+0.7%-0.6%-5.9%
Q4 2022+1.6%+3.1%-9.1%
Q3 2022+6.4%+11.1%+16.6%
Q2 2022+0.6%+4.5%-4.0%
Q1 2022+2.6%+2.5%-2.0%
Q4 2021+1.5%-2.9%+8.8%
Q3 2021-6.0%-5.8%-9.8%
Q2 2021+0.7%+3.5%-4.1%
Q1 2021-1.6%-2.7%-2.5%
Q4 2020-3.9%-6.2%-6.1%
Q3 2020-2.6%-3.0%+25.9%
Q2 2020+4.5%+3.1%-6.4%
Q1 2020-1.1%-7.1%+6.4%
Q4 2019+0.4%+3.1%-2.6%
Q3 2019-5.8%+2.0%+5.5%
Q2 2019-4.0%-7.4%-12.6%
Q1 2019+5.3%+3.6%-4.6%
Q4 2018-4.4%-3.5%-13.3%
Q3 2018-5.7%-4.0%+1.4%
Q2 2018+8.8%+5.9%+17.4%
Q1 2018+7.2%+7.3%+10.3%
Q4 2017+3.0%+3.9%+7.7%
Q3 2017+1.8%+2.0%+8.7%
Q2 2017+1.9%-0.2%+3.6%
Q1 2017+7.9%+10.0%+6.3%
Q4 2016+0.1%+0.5%-1.9%
Q3 2016+1.8%+0.7%+5.6%
Q2 2016+6.7%+3.1%-0.3%
Q1 2016+10.9%
Q4 2015+9.2%
Q3 2015-0.3%
Q2 2015-2.9%
Q1 2015-9.0%
Q4 2014-4.7%
Q3 2014-3.0%
Q2 2014+7.4%
Q1 2014-0.4%
Q4 2013-2.8%
Q3 2013+0.6%
Q2 2013+4.7%
Q1 2013+3.1%
Q4 2012+7.2%
Q3 2012+2.5%
Q2 2012-3.7%
Q1 2012+9.2%
Q4 2010+3.9%
Q4 2011+3.9%
Q3 2011-1.0%
Q2 2011-9.0%
Q1 2010+0.4%
Q1 2011+2.5%
Q4 2008+7.8%
Q3 2010+2.2%
Q2 2010-1.0%
Q4 2009-1.0%

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