Healthcare services provider AdaptHealth Corp. (NASDAQ: AHCO) will be reporting earnings tomorrow before the bell. Here’s what to expect.
AdaptHealth beat analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $856.6 million, flat year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and full-year EBITDA guidance slightly topping analysts’ expectations.
Is AdaptHealth a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AdaptHealth’s revenue to decline 3.5% year on year to $764.8 million, a reversal from the 6.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.04 per share.
Analysts covering the company have generally 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 three 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. Option Care Health delivered year-on-year revenue growth of 16.3%, beating analysts’ expectations by 6.1%, and Chemed reported revenues up 9.8%, topping estimates by 0.8%. Option Care Health traded down 2% following the results while Chemed was also down 6.9%.
Read our full analysis of Option Care Health’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 4.9% on average over the last month. AdaptHealth is down 12.7% during the same time and is heading into earnings with an average analyst price target of $13 (compared to the current share price of $8.35).
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