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Sep 30, 2021
Amedisys Q3 2021 Earnings Report
Amedisys's financial performance was reported for Q3 2021, with revenue increasing slightly but net income decreasing due to various factors, including changes in income tax benefits.
Key Takeaways
Amedisys reported a slight increase in net service revenue to $553.5 million for the third quarter of 2021, compared to $544.1 million in 2020. However, net income attributable to Amedisys, Inc. decreased to $45.0 million from $72.0 million in the previous year, which included a $24.0 million income tax benefit related to executive stock option exercise. The company updated its 2021 guidance, anticipating adjusted net service revenue in the range of $2.200 billion to $2.205 billion and adjusted diluted earnings per share between $5.88 and $5.93.
Net service revenue increased to $553.5 million, up from $544.1 million in the same quarter last year.
Net income attributable to Amedisys, Inc. declined to $45.0 million, compared to $72.0 million in the previous year.
Adjusted net income per diluted share was $1.53, down from $2.24 in the prior year.
The company updated its 2021 guidance, projecting adjusted net service revenue between $2.200 billion and $2.205 billion.
Amedisys
Amedisys
Forward Guidance
Amedisys updated its 2021 guidance due to the continued impact of COVID-19 on operating metrics. Adjusted net service revenue is expected to be in the range of $2.200 billion to $2.205 billion, adjusted EBITDA is anticipated to be between $296 million and $298 million, and adjusted diluted earnings per share are projected to be between $5.88 and $5.93.
Positive Outlook
- Adjusted net service revenue is anticipated to be in the range of $2.200 billion to $2.205 billion.
- Adjusted EBITDA is anticipated to be in the range of $296 million to $298 million.
- Adjusted diluted earnings per share is anticipated to be in the range of $5.88 to $5.93 based on an estimated 33.0 million shares outstanding.
- Company has been able to grow Home Health and Hospice admissions.
- Significant progress on recovering Hospice Business Development staff.
Challenges Ahead
- COVID-19 continues to impact the operating metrics.
- Future regulations or government interventions could impact the ability to achieve guidance.
- Spike in clinicians and business development staff on quarantine may affect guidance.
- Staffing shortages due to current and proposed federal, state and local vaccine mandates could impact guidance.
- Reduction in elective procedures, change in patient behavior and further decline in senior living occupancy could impact guidance.