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Sep 30, 2022
Encompass Health Q3 2022 Earnings Report
Encompass Health's Q3 2022 performance reflected strong demand for inpatient rehabilitation services, discharge growth, and progress in reducing contract labor, but was impacted by elevated staffing costs, leading to revised 2022 guidance.
Key Takeaways
Encompass Health Corporation reported its Q3 2022 results, demonstrating strong demand for inpatient rehabilitation services with a 7.5% increase in total discharges. However, elevated staffing costs impacted profitability, leading to a revision of the company's 2022 guidance.
Third quarter discharge growth was 7.5%, inclusive of 4.1% same-store growth.
The company made continued progress on reducing contract labor through hiring and retention initiatives.
Elevated staffing costs again impacted profitability.
The company has revised its 2022 guidance.
Encompass Health
Encompass Health
Forward Guidance
The Company is revising its guidance for full-year 2022. Net operating revenue is expected to be $4,320 to $4,350 million. Adjusted EBITDA is expected to be $800 to $820 million. Adjusted earnings per share from continuing operations attributable to Encompass Health is expected to be $2.71 to $2.86.