Encompass Health Q1 2024 Earnings Report
Key Takeaways
Encompass Health reported a strong first quarter with a 13.4% increase in revenue, driven by a 10.0% increase in discharges. Adjusted EBITDA grew by 19.2%, and the company increased its full-year guidance.
Revenue growth of 13.4% resulted primarily from discharge growth of 10.0%, including same-store growth of 6.7%. Net revenue per discharge grew 2.8%.
Cash flows provided by operating activities increased 4.8% to $238.8 million, primarily due to an increase in net income partly offset by changes in working capital.
Adjusted EBITDA increased 19.2%, primarily from increased revenue and overall expense management.
The Company increased its full-year guidance.
Encompass Health
Encompass Health
Forward Guidance
The Company increased its full-year guidance as follows: Net operating revenue $5,250 to $5,325 million, Adjusted EBITDA $1,030 to $1,065 million, Adjusted earnings per share from continuing operations attributable to Encompass Health $3.86 to $4.11