Encompass Health: Q3 Earnings Snapshot
Monday, Oct 28, 2024 4:47 pm ET
1min read Encompass Health Corporation (NYSE: EHC), the nation's largest owner and operator of inpatient rehabilitation hospitals, reported its third-quarter 2024 earnings on October 28, 2024, showcasing robust performance driven by strong discharge growth and increased net patient revenue per discharge.
The company's revenue growth of 11.9% was primarily fueled by a 8.8% increase in discharges, including a 6.8% same-store discharge growth. This growth was complemented by a 2.5% increase in net revenue per discharge. Encompass Health's cash flows provided by operating activities surged by 24.4% to $267.8 million, while adjusted EBITDA grew by 13.4% to $269.3 million.
Encompass Health's President and Chief Executive Officer, Mark Tarr, attributed the company's strong performance to the resilience and dedication of its employees, who managed through challenging conditions posed by Hurricanes Helene and Milton. The company prioritized patient safety and continuity of operations, ensuring minimal disruption to its services.
The company's strategic initiatives and operational improvements, such as enhanced care delivery models and investments in technology, have driven its Q3 growth and increased full-year guidance. Encompass Health raised its full-year guidance for net operating revenue, adjusted EBITDA, and adjusted earnings per share from continuing operations attributable to Encompass Health.
In conclusion, Encompass Health's Q3 earnings snapshot reflects the company's robust performance, driven by strong discharge growth, increased net patient revenue per discharge, and effective management of challenging conditions. The company's strategic initiatives and operational improvements have positioned it for continued growth and success in the inpatient rehabilitation hospital sector.
The company's revenue growth of 11.9% was primarily fueled by a 8.8% increase in discharges, including a 6.8% same-store discharge growth. This growth was complemented by a 2.5% increase in net revenue per discharge. Encompass Health's cash flows provided by operating activities surged by 24.4% to $267.8 million, while adjusted EBITDA grew by 13.4% to $269.3 million.
Encompass Health's President and Chief Executive Officer, Mark Tarr, attributed the company's strong performance to the resilience and dedication of its employees, who managed through challenging conditions posed by Hurricanes Helene and Milton. The company prioritized patient safety and continuity of operations, ensuring minimal disruption to its services.
The company's strategic initiatives and operational improvements, such as enhanced care delivery models and investments in technology, have driven its Q3 growth and increased full-year guidance. Encompass Health raised its full-year guidance for net operating revenue, adjusted EBITDA, and adjusted earnings per share from continuing operations attributable to Encompass Health.
In conclusion, Encompass Health's Q3 earnings snapshot reflects the company's robust performance, driven by strong discharge growth, increased net patient revenue per discharge, and effective management of challenging conditions. The company's strategic initiatives and operational improvements have positioned it for continued growth and success in the inpatient rehabilitation hospital sector.
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