PLYMOUTH MEETING, PA — AdaptHealth Corp. (NASDAQ: AHCO) has released its financial results for the third quarter ending September 30, 2024, showing a slight increase in net revenue and a significant turnaround in net income. The company reported net revenue of $805.9 million, marking a marginal rise from $804.0 million in the same quarter last year. More notably, AdaptHealth achieved a net income of $22.9 million, a substantial improvement from a net loss of $454.1 million in the previous year.
The company’s adjusted EBITDA rose by 1.9% to $164.3 million, from $161.2 million last year. Year-to-date cash flow from operations reached $391.4 million, up from $325.4 million in the previous year, with free cash flow growing to $162.7 million from $76.6 million.
CEO Suzanne Foster expressed optimism about the company’s direction, stating, “I continue to be optimistic about the road ahead. We have identified growth opportunities, we are assembling a high performing team and investing in areas that allow us to serve even more patients in their homes.”
In addition to its quarterly results, AdaptHealth has updated its financial guidance for the fiscal year 2024. The company now expects net revenue to range from $3.220 billion to $3.260 billion, adjusted EBITDA between $655 million and $675 million, and free cash flow from $175 million to $195 million. These adjustments reflect a slight tightening of previous projections, indicating a focused approach to managing financial expectations.
AdaptHealth’s recent financial performance and strategic updates demonstrate its ongoing commitment to enhancing patient care and operational efficiency, as the company navigates the evolving healthcare landscape.
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