AMED - Amedisys stock slumps 15% as Q3 earnings fall; FY22 outlook cut
Amedisys ( NASDAQ: AMED ) stock fell ~15% premarket on Thursday after Q3 results missed estimates and the company lowered its FY22 adjusted EPS outlook.
Q3 adjusted EPS declined -24.8% Y/Y to $1.15, while net service revenue was largely flat (+0.8%) Y/Y to $558M.
Adjusted EBITDA fell to $61.5M, compared to $72.4M in Q3 2021.
"Although we continue to be impacted by a few headwinds, most of which we believe to be short-term in nature, our enthusiasm for the future outlook of Amedisys has never been stronger," said President and CEO Chris Gerard.
Home Health segment, revenue was also flat at $337.2M, compared to $338.6M in Q3 2021.
Hospice segment revenue was $198.7M, compared to $197.5M in Q3 2021.
Outlook :
Amedisys lowered its adjusted net service revenue outlook and now expects it to be between $2.224B and $2.23B ( prior outlook provided during Q2 results $2.29B to $2.31B) consensus $2.29B.
Adjusted EPS range was cut to $4.82 to $4.93 (prior outlook $5.23 to $5.45) consensus $5.23.
Adjusted EBITDA outlook now to be in the range of $253M to $258M ( previous range $275M to $285M).
AMED -14.56% to $90 premarket Oct. 27.
For further details see:
Amedisys stock slumps 15% as Q3 earnings fall; FY22 outlook cut