Adapthealth Corp Stock Price, News & Analysis

AdaptHealth Corp. (NASDAQ: AHCO) reported record financial results for Q2 2021, achieving net revenue of $617.0 million, a 166% increase from Q2 2020. The company also saw a net income of $79.1 million ($0.12 per diluted share), up from $4.5 million. Adjusted EBITDA rose by 246% to $147.4 million. AdaptHealth completed four acquisitions during the quarter, contributing to significant organic growth of 10.1%. The company has increased its 2021 guidance, now expecting net revenue between $2.38 and $2.48 billion.

AdaptHealth Corp. (NASDAQ: AHCO) will release its Q2 2021 financial results on August 5, 2021, prior to market opening. A conference call will follow at 8:30 AM ET to discuss the results and business updates. AdaptHealth is a leading provider of at-home healthcare solutions, serving nearly 3 million patients annually across over 500 locations in 47 states. The company offers a range of products including sleep therapy, diabetes care devices, and home medical equipment, focusing on chronic condition management.

AdaptHealth Corp. (NASDAQ: AHCO) has appointed Stephen Griggs as Chief Executive Officer, effective immediately, following Luke McGee's resignation from the same position. Griggs, who joined AdaptHealth in February 2021 as Co-CEO, has a strong track record in the healthcare sector, having founded AeroCare and achieved two decades of consecutive revenue growth. The board expresses confidence in Griggs’ leadership as the company aims to enhance organic growth, improve chronic disease management, and pursue strategic acquisitions.

AdaptHealth Corp. (NASDAQ: AHCO) announced a series of virtual investor presentations featuring top executives. The schedule includes the Bank of America 2021 Healthcare Conference on May 12 at 9:30 am ET, the RBC Capital Markets Global Healthcare Conference on May 18 at 3:40 pm ET, the UBS Global Healthcare Virtual Conference on May 25 at 8:00 am ET, and the Jefferies Virtual Healthcare Conference on June 2 at 10:00 am ET. A live webcast and subsequent replays will be available through the AdaptHealth website.

AdaptHealth (NASDAQ: AHCO) announced Q1 2021 financial results, showing net revenue of $482.1 million, up 152% year-over-year. The company reported a net loss of $4.0 million or $0.08 per diluted share, an improvement from a $34.6 million loss in Q1 2020. Adjusted EBITDA soared 242% to $104.2 million. Following the acquisition of AeroCare and other strategic purchases, the company increased its 2021 guidance, now projecting revenues of $2.22 billion to $2.39 billion and adjusted EBITDA of $525 million to $565 million.

AdaptHealth Corp. (NASDAQ: AHCO) has successfully amended its senior secured credit facilities, increasing its term loan by $100 million and expanding its revolving credit capacity from $250 million to $450 million. The additional funds will primarily be used to repay existing revolving credit borrowings and facilitate acquisitions. The company's Co-CEO emphasized their growth strategy following the combination with AeroCare and highlighted the completion of 245 acquisitions since 2012. These changes are expected to enhance operational efficiencies and support future growth.

AdaptHealth Corp. (NASDAQ: AHCO) announced it will release its financial results for Q1 2021 on May 6, 2021, prior to market opening. A conference call is scheduled for the same day at 8:30 am ET to discuss the results. The company specializes in providing patient-centric, technology-enabled chronic disease management, serving nearly 3 million patients annually across 500+ locations in 46 states. The offerings include sleep therapy equipment, diabetes management products, home medical equipment, and chronic therapy services.

AdaptHealth Corp. (NASDAQ: AHCO) has announced that Co-CEO Luke McGee has been charged with tax fraud related to personal conduct from March 2014 to August 2015, unrelated to the company's operations. McGee is on unpaid leave pending the outcome. The Board expresses full confidence in the management team led by Co-CEO Steve Griggs and President Josh Parnes to uphold business strength and growth. AdaptHealth provides home healthcare solutions nationwide, serving approximately 1.8 million patients annually across its 269 locations.

AdaptHealth Corp. (NASDAQ: AHCO) reported strong financial results for Q4 and FY 2020. Q4 net revenue reached $348.4 million, a 133% increase year-over-year, while FY revenue hit $1.06 billion, up 99%. However, the company experienced a net loss of $31.0 million in Q4 and $64.5 million for the full year, primarily due to non-cash charges. AdaptHealth has closed the acquisition of AeroCare and anticipates $50 million in annual cost synergies. The company raised its 2021 guidance, projecting net revenue of $2.18 to $2.35 billion.