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Jun 30, 2021
Amedisys Q2 2021 Earnings Report
Amedisys reported strong financial results for Q2 2021, with revenue and net income significantly increasing compared to the previous year. The company closed the Contessa acquisition, expanded its credit facility, and authorized a new share repurchase program.
Key Takeaways
Amedisys reported a strong second quarter of 2021, with net service revenue increasing to $564.2 million and net income attributable to Amedisys, Inc. reaching $80.1 million. The company closed the acquisition of Contessa Health and expanded its credit facility to $1 billion. A new $100 million share repurchase program was also authorized.
Net service revenue increased to $564.2 million compared to $485.0 million in 2020.
Net income attributable to Amedisys, Inc. was $80.1 million compared to $34.7 million in 2020.
The acquisition of Contessa Health was completed on August 1, 2021.
A new $100 million share repurchase program was authorized.
Amedisys
Amedisys
Forward Guidance
Amedisys updated its 2021 guidance, including and excluding acquisition activity closed as of August 4, 2021. Adjusted net service revenue is anticipated to be in the range of $2.241 billion to $2.259 billion. Adjusted EBITDA is anticipated to be in the range of $301 million to $308 million. Adjusted diluted earnings per share is anticipated to be in the range of $6.03 to $6.18 based on an estimated 33.1 million shares outstanding.
Positive Outlook
- Adjusted net service revenue is anticipated to be in the range of $2.230 billion to $2.245 billion for core business.
- Adjusted EBITDA is anticipated to be in the range of $315 million to $320 million for core business.
- Adjusted diluted earnings per share is anticipated to be in the range of $6.37 to $6.49 for core business.
- Adjusted net service revenue is anticipated to be in the range of $2.241 billion to $2.259 billion including all acquisition activity.
- Adjusted EBITDA is anticipated to be in the range of $301 million to $308 million including all acquisition activity.
Challenges Ahead
- COVID-19 has impacted the operating metrics typically used to forecast both growth and cost assumptions.
- Future regulations or government interventions could impact the ability to achieve guidance.
- A spike in clinicians and business development staff on quarantine could impact the ability to achieve guidance.
- A reduction in elective procedures could impact the ability to achieve guidance.
- A further decline in senior living occupancy could impact the ability to achieve guidance.