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Mar 31, 2024
AdaptHealth Q1 2024 Earnings Report
AdaptHealth's financial performance for Q1 2024 was announced, demonstrating revenue growth and adjusted EBITDA increase despite a net loss.
Key Takeaways
AdaptHealth Corp. reported a 6.4% increase in net revenue to $792.5 million and an 18.3% increase in Adjusted EBITDA to $158.5 million. However, the company experienced a net loss of $2.1 million, contrasting with a net income of $15.7 million in the same quarter of the previous year. Free cash flow was $(38.9) million, a decrease from $51.1 million.
Net revenue increased by 6.4% to $792.5 million.
Net loss attributable to AdaptHealth Corp. was $2.1 million, compared to a net income of $15.7 million.
Adjusted EBITDA increased by 18.3% to $158.5 million.
Free Cash Flow was $(38.9) million, impacted by delayed payments due to the Change Healthcare data breach.
Forward Guidance
Despite a temporary dislocation caused by the Change Healthcare data breach, the expectations for Free Cash Flow for the first half and for the full year remain unchanged. The company has continued to reduce their debt in excess of required payments and expect that they will be below 3x leverage in 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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