Encompass Health Q2 2024 Earnings Report
Key Takeaways
Encompass Health reported a strong second quarter with a 9.6% increase in revenue and an 8.9% increase in Adjusted EBITDA, driven by discharge growth. The company added 194 beds to its capacity and resumed share repurchases. Full-year guidance was increased.
Revenue growth of 9.6% resulted primarily from discharge growth of 6.7%, including same-store growth of 4.8%. Net revenue per discharge grew 2.0%.
Cash flows provided by operating activities increased 5.2% to $217.4 million, primarily due to an increase in net income partly offset by higher cash tax payments.
Adjusted EBITDA increased 8.9%, primarily from increased revenue.
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 $5,275 to $5,350 million, Adjusted EBITDA $1,040 to $1,075 million, Adjusted earnings per share from continuing operations attributable to Encompass Health $3.97 to $4.22.