PLYMOUTH MEETING, PA — AdaptHealth Corp. (NASDAQ: AHCO), a provider of home medical equipment and services, has reported its financial results for the fiscal year and fourth quarter ending December 31, 2024. The company demonstrated improvements in several key metrics and outlined its strategic focus for continued growth in 2025.
Full-Year 2024 Highlights
AdaptHealth achieved net revenue of $3.26 billion, a 1.9% increase over 2023’s $3.2 billion. Net income attributable to AdaptHealth Corp. was $90.4 million, a marked improvement from the $678.9 million net loss reported in the prior year. Adjusted EBITDA rose by 2.7% to $688.7 million, while cash flow from operations increased to $541.8 million, up from $480.7 million in 2023.
Free cash flow saw a significant uptick, climbing to $235.8 million from $143.2 million.
Fourth-Quarter 2024 Performance
Fourth-quarter revenue was $856.6 million, a slight decline of 0.2% compared to the same period in 2023. Despite this, net income for the quarter reached $50.3 million, rebounding from a $254.5 million net loss in the fourth quarter of the prior year. Adjusted EBITDA for the quarter came in at $200.6 million, down 2.0%, while free cash flow grew to $73.1 million from $66.6 million.
During the quarter, the company finalized an agreement to sell assets from its incontinence business within the Wellness at Home segment to a third party, reinforcing its focus on core operations.
Strategic Focus
AdaptHealth’s leadership emphasized the progress made on its five areas of focus, which the company believes will cement its long-term success. “Over the course of the second half of 2024, we continued to make progress on our five areas of focus, which include our One Adapt initiative, accelerating the application of AI and automation, increasing our clinical relevance, delivering organic growth, and strengthening our balance sheet,” said Suzanne Foster, CEO of AdaptHealth. “The progress we have made helped drive our solid fourth quarter results and, more importantly, is strengthening our foundation for long-term success and growth.”
2025 Guidance
Looking ahead, AdaptHealth has provided its financial guidance for fiscal year 2025, forecasting net revenue between $3.22 billion and $3.36 billion. Adjusted EBITDA is expected to range between $670 million and $710 million, while free cash flow is projected at $180 million to $220 million. The company’s outlook reflects confidence in its ability to continue expanding its operations and investing in innovation.
AdaptHealth remains well-positioned to capitalize on market opportunities while advancing its organizational transformation initiatives to enhance operational efficiency and customer care.
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