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Jun 30, 2022
Amedisys Q2 2022 Earnings Report
Amedisys' Q2 2022 financial results were reported, showing a decrease in net service revenue but strategic progress in home health and hospice segments amidst COVID-19 impacts.
Key Takeaways
Amedisys reported a decrease in net service revenue to $557.9 million compared to $564.2 million in 2021, and net income attributable to Amedisys, Inc. decreased to $29.6 million from $80.1 million in the previous year. The company is updating its previously issued revenue guidance: Adjusted net service revenue is anticipated to be in the range of $2.290 billion to $2.310 billion.
Net service revenue decreased to $557.9 million from $564.2 million year-over-year.
Net income attributable to Amedisys, Inc. declined to $29.6 million compared to $80.1 million in the prior year.
Home Health Quality of Patient Care Stars score increased, reaching 100% of care centers at 4 stars or above.
First quarter of ADC growth in Hospice since Q3 2020 and the trends in the Hospice business were very pleasing.
Amedisys
Amedisys
Forward Guidance
Amedisys is updating its previously issued revenue guidance: Adjusted net service revenue is anticipated to be in the range of $2.290 billion to $2.310 billion. We are reaffirming our previously issued EBITDA and earnings per share guidance: Adjusted EBITDA is anticipated to be in the range of $275 million to $285 million. Adjusted diluted earnings per share is anticipated to be in the range of $5.23 to $5.45 based on an estimated 32.8 million shares outstanding.
Positive Outlook
- Adjusted net service revenue is anticipated to be in the range of $2.290 billion to $2.310 billion.
- Adjusted EBITDA is anticipated to be in the range of $275 million to $285 million.
- Adjusted diluted earnings per share is anticipated to be in the range of $5.23 to $5.45 based on an estimated 32.8 million shares outstanding.
- Guidance excludes the effects of any future acquisitions and potential share repurchases, if any are made.
Challenges Ahead
- COVID-19 has continued to impact the operating metrics typically used to forecast both growth and cost assumptions for both core Amedisys and Contessa.
- COVID-19 continues to evolve in both the disease itself as well as disruptions to the healthcare systems and the economy.
- Any future regulations or government interventions, spike in clinicians and business development staff on quarantine, staffing shortages due to current and proposed federal, state and local vaccine mandates could impact our ability to achieve this guidance.
- Reduction in elective procedures, change in patient behavior and further decline in senior living occupancy could impact our ability to achieve this guidance.
- We urge caution in considering the current trends and 2022 guidance disclosed in this press release.