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AdaptHealth posts Q3 loss due to goodwill impairment charge

By Reuters News


Overview

  • US home medical equipment provider's Q3 revenue rose 10.9% yr/yr, slightly missing analyst expectations

  • Company posted a large net loss due to $184.8 mln goodwill impairment

  • Adjusted EBITDA for Q3 fell 2.9% yr/yr


Outlook

  • AdaptHealth raises 2026 net revenue guidance to $2.88 bln-$2.90 bln from $2.85 bln-$2.89 bln

  • Company lifts 2026 adj EBITDA outlook to $510 mln-$525 mln from $490 mln-$520 mln

  • AdaptHealth lowers 2026 free cash flow forecast to $50 mln-$75 mln from $80 mln-$120 mln


Result Drivers

  • CAPITATED AGREEMENT - Co said exclusive capitated agreement with national integrated delivery network improved contract profitability through lower labor costs

  • SEGMENT GROWTH - Co reported organic revenue growth across Sleep Health, Respiratory Health and Wellness at Home segments

  • PORTFOLIO FOCUS - Co said pending sale of Diabetes Health business will allow greater focus on core segments


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Miss*

$745.65 mln

$746.45 mln (8 Analysts)

Q3 Loss Per Share

$1.13

Q3 Net Loss

$152.77 mln

Q3 Operating Income

Miss

-$155.92 mln

$38.47 mln (3 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

  • Wall Street's median 12-month price target for AdaptHealth Corp. is $9.00, about 52.3% above its November 2 closing price of $5.91

  • The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Nov 3 - Fresenius Medical cuts 2026 profit outlook as US treatment decline deepens

  • Nov 3 - Henry Schein Q3 sales slightly miss, raises 2026 profit outlook

  • Nov 2 - Hinge Health Q3 revenue jumps 52%, beats estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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