AdaptHealth Posts Mixed Q3 Earnings, Revises Annual Guidance

• AdaptHealth Corp (NASDAQ: AHCO) delivered Q3 revenue of $756.5 million, +15.8% Y/Y, beating the consensus of $737.94 million.

• Adjusted EBITDA reached $160.2 million, +2.5% Y/Y.

• Steve Griggs, Chief Executive Officer, commented, "We delivered another solid quarter as we continued to capitalize on strong demand in our HME and Sleep product lines with CPAP patient set-ups at or near record levels each month of the quarter, and our diabetes product line once again posting double-digit growth."

• The company reported EPS of $0.11, down from $0.20 a year ago and the consensus of $0.31.

• Cash flow from operations was $107 million.

• Guidance: AdaptHealth revised FY22 sales to $2.95-$3.01 billion compared to $2.84 - $3.04 billion expected earlier versus the consensus of $2.95 billion.

• It has tightened the adjusted EBITDA forecast to $620-$650 million from $615-$675 million.

• Price Action: AHCO shares are down 1.99% at $20.64 on the last check Monday.

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