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Senior care provider InnovAge's Q1 revenue beats as participants increase

By Reuters News


Overview

  • US senior care provider's fiscal Q1 revenue rose 12% yr/yr, beating analyst expectations

  • Net income for fiscal Q1 more than doubled from prior year

  • Adjusted EBITDA margin for fiscal Q1 rose to 11.8% from 7.5%


Outlook

  • InnovAge sees fiscal 2027 revenue between $1.05 bln and $1.09 bln

  • Company expects fiscal 2027 adjusted EBITDA of $105 mln to $115 mln

  • InnovAge projects fiscal 2027 census of 8,625 to 8,850 participants


Result Drivers

  • CENSUS GROWTH - Co said an increase in the number of participants contributed to higher revenue and profitability, per CEO Patrick Blair

  • OPERATIONAL EXECUTION - Co attributed improved results to disciplined clinical and operational execution

  • CENTER-LEVEL MARGIN - Higher center-level contribution margin supported overall profit growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

Beat

$264.8 mln

$257.09 mln (3 Analysts)

Q1 EPS

$0.14

Q1 Net Income

$20.9 mln

Q1 Adjusted EBITDA Margin

11.8%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

  • Wall Street's median 12-month price target for InnovAge Holding Corp is $10.50, about 17.7% above its November 2 closing price of $8.92

  • The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 27 three months ago


Reuters Recommended Reads

  • Nov 2 - Diversified Healthcare Trust Q3 net loss narrows amid occupancy growth

  • Nov 2 - Senior housing REIT Janus Living's Q3 revenue jumps 78%, FFO up 46%

  • Nov 2 - Sabra Health Care REIT Q3 revenue rises year-over-year


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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