EHC - Why Encompass Health Stock Was a Winner on Wednesday
Rehabilitation-care specialist Encompass Health (NYSE: EHC) easily surmounted the hump of Hump Day. Following its latest earnings release, published after market hours on Tuesday, the stock traded up by nearly 3% on Wednesday. What helped greatly was the twin beats notched by the company.
For its fourth quarter of 2022, Encompass Health posted just under $1.14 billion in revenue, which was 9% higher on a year-over-year basis. Non- GAAP (adjusted) net income slipped, however, by 9% to nearly $89 million, or $0.88 per share.
Both headline figures beat analyst estimates, albeit not by much. Still, a beat is a beat, and this was sufficiently encouraging for investors. On average, prognosticators following the stock were anticipating revenue of $1.12 billion and adjusted, per-share net income of $0.84.
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Why Encompass Health Stock Was a Winner on Wednesday