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- AdaptHealth Corp AHCO delivered its highest quarterly net revenue and adjusted EBITDA as a public company.
- It posted Q2 EPS of $0.12, missing the consensus of $0.22, higher than $0.08 posted a year ago.
- To date, AdaptHealth has acquired over $300 million of annualized revenue in 2021, incremental to the AeroCare acquisition that was completed in February.
- Adjusted EBITDA increased 246% Y/Y to $147.4 million.
- Steve Griggs, Chief Executive Officer, commented, "our results were largely driven by a full quarter of AeroCare and realization of integration synergies."
- The operating margin expanded from 6.7% to 10.6%, and the net income increased from $7.9 million to $80.1 million.
- FY21 Guidance: AdaptHealth has increased sales guidance to $2.38 billion - $2.48 billion ($2.3 billion consensus), from prior guidance of $2.22 billion - $2.39 billion;
- It forecasts adjusted EBITDA of $555 million - $580 million, up from prior guidance of $525 million to $565 million.
- Price Action: AHCO shares are up 15.1% at $24.99 during the market session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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