Healthcare services company Agilon Health (NYSE:AGL) will be reporting earnings this Wednesday after market close. Here’s what investors should know.
agilon health beat analysts’ revenue expectations last quarter, reporting revenues of $1.49 billion, up 7.2% year on year. It was a stunning quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates. It added 123,000 customers to reach a total of 549,000.
Is agilon health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting agilon health’s revenue to grow 1.6% year on year, a reversal from the 1.1% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. agilon health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at agilon health’s peers in the healthcare providers & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Encompass Health delivered year-on-year revenue growth of 8.9%, beating analysts’ expectations by 0.5%, and DaVita reported revenues up 4.6%, topping estimates by 1.7%. Encompass Health traded up 7.7% following the results while DaVita was down 3%.
Read our full analysis of Encompass Health’s results here and DaVita’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 2.4% on average over the last month. agilon health is up 3% during the same time and is heading into earnings with an average analyst price target of $115.83 (compared to the current share price of $86.79).
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