Healthcare services provider AdaptHealth Corp. (NASDAQ:AHCO) will be announcing earnings results this Tuesday morning. Here’s what you need to know.
AdaptHealth beat analysts’ revenue expectations last quarter, reporting revenues of $846.3 million, down 1.2% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates.
Is AdaptHealth 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 AdaptHealth’s revenue to grow 2.5% year on year, a reversal from the 1.8% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AdaptHealth has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at AdaptHealth’s peers in the senior health, home health & hospice segment, some have already reported their Q1 results, giving us a hint as to what we can expect. BrightSpring Health Services delivered year-on-year revenue growth of 25.6%, beating analysts’ expectations by 6.3%, and Chemed reported revenues up 1.6%, topping estimates by 1.2%. Chemed traded up 10% following the results.
Read our full analysis of BrightSpring Health Services’s results here and Chemed’s results here.
There has been positive sentiment among investors in the senior health, home health & hospice segment, with share prices up 6% on average over the last month. AdaptHealth is up 9.1% during the same time and is heading into earnings with an average analyst price target of $13.19 (compared to the current share price of $13.17).
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