AdaptHealth Reports Fourth Quarter and Full-Year 2024 Results, Provides 2025 Outlook

AdaptHealth Corp. (NASDAQ: AHCO) announced strong financial results for both the fourth quarter and full fiscal year 2024, marking a significant turnaround from the prior year. The company, a national leader in patient-centered healthcare-at-home solutions, reported a net revenue increase to $3,261.0 million for fiscal 2024, compared to $3,200.2 million in 2023, representing a 1.9% improvement.

For the full year, net income attributable to AdaptHealth jumped to $90.4 million, reversing a net loss of $678.9 million recorded in 2023. The company’s Adjusted EBITDA experienced modest growth of 2.7%, rising to $688.7 million, while cash flow from operations increased to $541.8 million from $480.7 million. Free cash flow also saw notable improvement, reaching $235.8 million compared to $143.2 million in the previous year.

In the fourth quarter, AdaptHealth delivered net revenue of $856.6 million, essentially flat with a slight 0.2% decrease versus the same quarter last year. Importantly, the quarter ended with a net income of $50.3 million compared to a net loss of $254.5 million, reflecting improved operational performance. Adjusted EBITDA for the quarter decreased modestly by 2.0% to $200.6 million, while free cash flow increased to $73.1 million from $66.6 million.

The Company also announced that during the fourth quarter it reached a definitive agreement to sell certain incontinence assets within its Wellness at Home segment as part of its ongoing strategic initiatives.

“Our progress in the second half of 2024 has been significant, driven by our focus on the One Adapt initiative, the accelerated adoption of AI and automation, enhanced clinical relevance, and our commitment to organic growth while strengthening our balance sheet,” said Suzanne Foster, Chief Executive Officer of AdaptHealth. “These achievements underpin our solid quarterly performance and lay a robust foundation for long-term success and growth.”

Looking ahead to fiscal 2025, AdaptHealth provided updated guidance, expecting net revenue to range between $3.22 billion and $3.36 billion, Adjusted EBITDA to be between $670 million and $710 million, and free cash flow to fall between $180 million and $220 million.

AdaptHealth’s results for 2024 and its forward-looking guidance reflect the company’s strategic focus on enhancing its operational efficiency and reinforcing financial discipline. The company’s management emphasized that its ongoing initiatives are designed to create a stronger balance sheet and spur future growth through targeted efforts across its service and product lines.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AdaptHealth’s 8K filing here.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.