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Jun 30, 2020
AdaptHealth Q2 2020 Earnings Report
AdaptHealth announced financial results for the three- and six-month periods ended June 30, 2020.
Key Takeaways
AdaptHealth's Q2 2020 performance reflected the team's hard work and the successful deployment of a scalable growth model. The COVID-19 pandemic presented challenges, offset by new business opportunities and growth in other product categories.
PAP new starts, orthotics and other business lines closely linked to discretionary hospital and long-term care facility discharges were significantly down and costs were higher in the second quarter of 2020.
New respiratory starts increased, and teams successfully focused on resupply businesses.
Approximately $28 million of business-to-business (B2B) revenues were generated in the quarter, opening new channels and customers.
Improvements in resupply business and the B2B revenue growth more than offset the weakness in traditional businesses.
Forward Guidance
The Company is offering financial guidance for fiscal year 2020 of net revenue between $935 million to $983 million, Adjusted EBITDA of $169 million to $178 million, and Adjusted EBITDA less Patient Equipment Capex of $120 million to $127 million. This outlook includes anticipated Adjusted EBITDA losses for PCS.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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