Here's Why AdaptHealth Shares Are Soaring Today

  • AdaptHealth Corp AHCO says it delivered solid Q1 net revenue and Adjusted EBITDA as it began to overcome ongoing challenges resulting from shortages of CPAP equipment.
  • Net revenue increased 46.5% to $706.2 million, beating the consensus of $651.46 million.
  • Organic growth for the first quarter was 3.7%, and non-acquired growth was 3.7%.
  • EPS of $0.08, a turnaround from EPS loss of $(0.08), came in below the consensus of $0.18.
  • Adjusted EBITDA increased 32.1% to $137.6 million.
  • During the quarter, the company began integrating the previously-announced acquisition of Community Surgical Supply. For the year to date, AHCO completed six HME and Sleep providers acquisitions.
  • Cash flow from operations was $66.5 million compared to $18.4 million a year ago.
  • Share Buyback: The company announced a share repurchase program for up to $200 million through December 31, 2022.
  • Guidance: AdaptHealth expects FY22 sales of $2.84 billion to $3.04 billion (previously $2.825 billion to $3.025 billion), versus the consensus of $2.92 billion.
  • Adjusted EBITDA of $615 million to $675 million (previously $610 million to $670 million).
  • Price Action: AHCO shares traded 21.4% higher at $13.88 on the last check Tuesday.
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