What factors drove the changes in Aveanna Healthcare's revenue and profit?

What is Aveanna Healthcare's latest dividend and current dividend yield?

What does Aveanna Healthcare do and what are its main business segments?

What is Aveanna Healthcare's gross profit margin?

What is the revenue and EPS growth rate for Aveanna Healthcare year over year?

What is the market's earnings forecast for Aveanna Healthcare next quarter?

What guidance did Aveanna Healthcare's management provide for the next earnings period?

What were the key takeaways from Aveanna Healthcare’s earnings call?

- **Record Growth**: Q4 2025 revenue up 27.4% YoY to $662M, EBITDA up 54% to $85M. Full-year 2025 revenue $2.433B (20.2% YoY), EBITDA $320.8M (74.8% YoY). 
- **Strategic Expansion**: Acquired Family First Home Care for $175.5M, targeting 38 preferred payers in PDS by 2026. 
- **2026 Outlook**: Revenue $2.54-2.56B, EBITDA $318-322M. Focus on rate enhancements (6-8 states), AI/automation, and M&A. 
- **Segment Strength**: Home health admissions +22.4%, Med Solutions unique patients +3.4%, PDS volumes +17.9%. 
- **Leverage Management**: Target 4x leverage, deleveraging in 2026 with $131M free cash flow. 
- **Key Risks**: California PDN rate stalemate (80% PDS revenue outside CA), weather-related Q1 disruption. 


**【CEO Summary Section】**
- **Q4 2025 Results**: Revenue of $662 million (27.4% YoY growth), Adjusted EBITDA of $85 million (54% YoY growth). Full-year 2025 revenue: $2.433 billion (20.2% YoY), Adjusted EBITDA: $320.8 million (74.8% YoY growth). 
- **Strategic Initiatives**: Expanded preferred payer agreements to 30 in PDS, 45 in home health, and 18 in Med Solutions. Acquired Family First Home Care for $175.5M (7.5x post-synergy EBITDA). 
- **2026 Outlook**: Revenue $2.54-2.56 billion, EBITDA $318-322 million. Focus on rate enhancements (6-8 states), AI/automation, and M&A. 
- **Acquisition Impact**: Family First adds $120M revenue, 80% in Florida. Expected to close Q2 2026. 
- **Segment Growth**: PDS volumes +3.4%, Med Solutions +92,000 unique patients, home health admissions +22.4%. 
- **Challenges**: California PDN rate stalemate, but state share declining. 

**【CFO Financial Commentary】**
- **Q4 2025 Financials**: GAAP net income $420M, Non-GAAP EPS $1.08. Free cash flow $131M, liquidity $529M. 
- **Segment Margins**: PDS gross margin 27.7%, home health 53.7%, Med Solutions 50% (one-time reserve release). 
- **Debt Management**: $1.49B variable-rate debt hedged with swaps and caps. 2026 guidance excludes Family First impact. 
- **2026 Guidance**: Organic revenue growth 5-7%, EBITDA growth 7-17%. 
- **Leverage**: Target 4x leverage, deleveraging in 2026. 

**【Q&A Highlights】**
- **Family First Synergy**: 2/3 revenue in Florida, aligned with Aveanna's preferred payer strategy. Expected smooth integration. 
- **Preferred Payer Strategy**: PDS preferred payer volume 57% (target 60%), home health episodic mix 78% (target 75+%). 
- **California PDN Rates**: No 2026 budget allocation, but 80% of PDS revenue outside CA. 
- **AI/automation**: Back office automation (RCM, collections) and front office caregiver engagement. 
- **Segment Growth**: Home health double-digit organic growth, Med Solutions mid-single digits in H1, PDS 5-7% YoY. 
- **Liquidity**: $193M cash, $226M revolver undrawn. 
- **Risks**: Weather-related disruptions (Q1 payroll tax impact), but no material effect on guidance. 


Aveanna Healthcare Holdings Inc.(AVAH)-20260319-2025 Q4 Earnings call transcript

- **Revenue & EBITDA beat expectations**: Q3 revenue up 22.2% to $622M, EBITDA up 67.5% to $80.1M, with 2025 outlook raised to >$2.375B and >$300M. 
- **Preferred payer strategy driving growth**: 56% of PDS MCO volumes under preferred payers, +5 agreements added in Q3, targeting 30+ by year-end. 
- **Thrive acquisition success**: $100M+ annual contribution, fully integrated by end-2025, expanding into 2 new states. 
- **Balance sheet strength**: $479M liquidity, 75% of debt hedged, $86.2M free cash flow YTD. 
- **Regulatory risks**: Medicaid headwinds from OBBBA, but diversified state footprint and advocacy efforts mitigate impact.

**【CEO Summary Section】**
- Q3 2025 revenue: $622 million (22.2% YoY growth), Adjusted EBITDA: $80.1 million (67.5% YoY increase). 
- Preferred payer strategy success: 56% of PDS MCO volumes now under preferred payer agreements, up from 46% in Q2. 
- Thrive Skilled Pediatrics acquisition: Adds 2 new states (Kansas, New Mexico) and $100M+ annual revenue, fully integrated by end of 2025. 
- Regulatory focus: 10 state rate enhancements in PDS, advocacy for Medicaid rate integrity, and opposition to proposed Medicare home health cuts. 
- 2025 outlook raised to >$2.375B revenue and >$300M EBITDA, driven by rate wins and cost efficiencies. 

**【CFO Financial Commentary】**
- Segment performance: 
  - PDS: $514M revenue (25.6% YoY), 29% gross margin, $12.62/hour spread. 
  - Home Health: $62.4M revenue (15.3% YoY), 53.3% gross margin, 77% episodic mix. 
  - Med Solutions: $45.1M revenue (flat YoY), 45% gross margin, targeting 42-44% margin. 
- Liquidity: $479M (including $146M cash, $227M undrawn revolver). 
- Debt refinancing: Extended $1.325B term loan to 2032, hedged 75% of variable rate debt. 
- Cash flow: $76.1M operating cash flow, $86.2M free cash flow YTD. 

**【Q&A Highlights】**
- Q4 guidance: Similar to Q3, with 53rd week adding ~$20M revenue. 
- Preferred payer momentum: 30 PDS agreements (goal 30+ in 2026), 45 in home health, 18 in Med Solutions. 
- Regulatory risks: Medicaid headwinds from OBBBA, but diversified state footprint mitigates impact. 
- M&A strategy: Focus on tuck-in acquisitions (e.g., Thrive) at 7-10x EBITDA, with $227M undrawn revolver. 
- Spread normalization: PDS spread expected to stabilize at 26-28% as wage pass-through subsides. 
- Medicare rule uncertainty: Final 2026 home health rule expected to have minimal impact on Aveanna, but industry-wide cuts opposed.

Aveanna Healthcare Holdings Inc. (AVAH) Q3 2025 Earnings Call Transcript

- **Revenue & EBITDA Surge**: Q2 revenue +16.8% to $590M, EBITDA +93.6% to $88.3M, driven by rate wins and cost savings.
- **Preferred Payer Momentum**: 25 PDS agreements (55% volumes), 47 home health agreements (74.5% episodic), and 18 Medical Solutions payers.
- **Enhanced Outlook**: 2025 guidance raised to >$2.3B revenue and >$270M EBITDA, including Thrive contributions.
- **Liquidity Strength**: $354M total liquidity, $36.9M free cash flow YTD, and fully hedged debt.
- **Regulatory Risk**: Home health rule proposes 6.4% cut, but Aveanna's Medicaid/MCO mix mitigates impact.


**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue reached $590 million, up 16.8% YoY, driven by rate improvements and cost savings. Adjusted EBITDA rose 93.6% to $88.3 million.
- **Strategic Wins**: 10 PDS rate enhancements year-to-date, 25 preferred payer agreements (55% of PDS volumes), and 47 home health preferred payer agreements (74.5% episodic mix).
- **Acquisition Integration**: Thrive Skilled Pediatric's integration on track, adding 2 new states (Kansas, New Mexico) and contributing to 2025 guidance.
- **Regulatory Focus**: Advocating against 6.4% home health rate cut, with 38-state advocacy efforts. Medicaid rate integrity and legislative agenda in 10 states.
- **Outlook Update**: 2025 revenue >$2.3 billion, EBITDA >$270 million, including Thrive contributions.

**【CFO Financial Commentary】**
- **Segment Performance**: 
  - PDS: $486M (+19.2%), $157.9M gross margin (32.5%), $43.97 revenue/hour (+12.3%).
  - Home Health: $60.1M (+10%), 55% gross margin, 9,800 admissions (+4.3%).
  - Medical Solutions: $43.4M (+2.2%), 44.6% gross margin, 91,000 unique patients.
- **Liquidity**: $354M total liquidity, including $101M cash, $106M securitization, and $147M revolver. Extended securitization to 2028 with $50M increase.
- **Cash Flow**: Year-to-date free cash flow $36.9M, positive operating cash flow $42.9M.
- **Debt Management**: $1.47B variable-rate debt hedged via swaps and caps, no material maturities until 2028.

**【Q&A Highlights】**
- **Guidance Drivers**: Rate wins, preferred payer volume growth, and one-time items ($9M timing benefits). 2025 outlook excludes home health rule impact.
- **Labor Market**: Wage pass-through completed by year-end, 11.1M PDS hours (+6.9%), caregiver hiring aligned with preferred payers.
- **Medicaid Policy**: States prioritizing PDN despite budget cuts. California remains sole state without rate alignment.
- **M&A Strategy**: Focus on home health and PDS tuck-ins post-Thrive integration, with liquidity for future deals.
- **Home Health Rule**: Opposed 6.4% cut, but Aveanna's 70% Medicaid/MCO mix insulates business.


Aveanna Healthcare (AVAH)-7 Aug 25-2025 Q2 Earnings call transcript

- **Revenue Surge**: Q1 2025 revenue up 14% to $559M, driven by 16.5% growth in Private Duty Services and 93.1% jump in EBITDA to $67.4M.
- **Preferred Payer Momentum**: 54% of PDS volumes under preferred payer agreements, up from 50% Q4 2024, with 24 agreements signed.
- **Acquisition Impact**: Thrive Skilled Pediatrics acquisition to expand PDS density in 7 states, closing soon.
- **Cash Flow Improvement**: Q1 operating cash outflow of $8.6M (seasonal low), with free cash flow negative $12.9M, but strong liquidity of $266M.
- **Rate Wins**: $11M EBITDA boost from retro rate increases and AR collections, with wage pass-through to caregivers expected to normalize by Q3.


**【CEO Key Highlights】**
- **Revenue Growth**: Q1 2025 revenue reached $559 million, up 14% YoY, driven by Private Duty Services (16.5% growth) and improved payer rates.
- **EBITDA Performance**: Adjusted EBITDA of $67.4 million, a 93.1% YoY increase, reflecting rate enhancements and cost savings.
- **Preferred Payer Strategy**: 54% of PDS MCO volumes now under preferred payer agreements (up from 50% Q4 2024), with 24 agreements signed.
- **Acquisition Update**: Thrive Skilled Pediatrics acquisition on track to close, adding 23 locations in 7 states and enhancing preferred payer density.
- **2025 Outlook**: Revised guidance for >$2.15 billion revenue and >$207 million EBITDA, excluding Thrive impact.

**【CFO Financial Breakdown】**
- **Segment Performance**: 
  - *Private Duty Services*: $460 million revenue (16.5% YoY), 29.3% gross margin, $12.37/hour spread (temporarily elevated due to wage pass-through).
  - *Home Health & Hospice*: $56.7 million revenue (3.9% YoY), 54.2% gross margin, 77% episodic mix.
  - *Medical Solutions*: $42.5 million revenue (3.6% YoY), 42.7% gross margin.
- **Liquidity**: $266 million total liquidity, including $72 million cash and undrawn revolver.
- **Debt Management**: $1.47 billion variable-rate debt hedged via swaps and caps, limiting SOFR exposure above 3%.
- **Cash Flow**: Q1 operating cash outflow of $8.6 million (seasonal low), with free cash flow negative $12.9 million.

**【Q&A Key Takeaways】**
- **Rate Enhancements**: Q1 benefited from $11 million EBITDA boost from retro rate increases and AR collections. Wage pass-through to caregivers expected to normalize spread per hour by Q3.
- **Thrive Synergies**: Acquisition to enhance PDS density in key states (Texas, NC, VA, etc.) and add new entry points in NM and KS.
- **Medicaid Policy**: Bipartisan support for program integrity, with Aveanna positioned as a cost-saver ($5,000-$6,000/day in hospital cost avoidance).
- **Home Health Growth**: 45 preferred payer agreements enable episodic-focused growth, with 77% episodic mix and 54.2% gross margin.


Aveanna Healthcare (AVAH)-8 May 25-2025 Q1 Earnings call transcript

- **Revenue Growth**: Q4 2024 revenue up 8.6% YoY to $520M, Full-year 2024 up 6.8% to $2.024B
- **Profit Expansion**: Q4 EBITDA +42.6% YoY to $55.2M, Full-year EBITDA +31.8% to $183.5M
- **Strategic Wins**: 12 state rate increases, 22 PDS preferred payors (50% MCO volume), 38 HHH episodic agreements
- **2025 Outlook**: Revenue $2.1-2.12B, EBITDA $190-194M (prudent guidance)
- **Key Drivers**: Preferred payer alignment, caregiver recruitment, cost efficiency, M&A focus on PDS/HHH
- **Risks**: Labor market dynamics, reimbursement rate execution

**【CEO Summary Section】**
- Q4 2024 revenue: $520 million (+8.6% YoY), Full-year 2024 revenue: $2.024 billion (+6.8% YoY)
- Q4 adjusted EBITDA: $55.2 million (+42.6% YoY), Full-year 2024 EBITDA: $183.5 million (+31.8% YoY)
- Strategic progress: 12 state rate increases in PDS, 22 preferred payor agreements (50% MCO volume), 38 episodic HHH agreements
- 2025 Outlook: Revenue $2.1-2.12B, EBITDA $190-194M
- Key initiatives: Preferred payer alignment, caregiver recruitment, cost efficiency, M&A focus on PDS/HHH

**【CFO Financial Commentary】**
- Q4 gross margin: 33.0% (PDS: 29.3%, HHH: 53.2%, MS: 44.3%)
- PDS revenue per hour: $40.25 (+6.1% YoY), Spread per hour: $11.79 (normalizing to $10-10.50)
- HHH episodic mix: 76%, Medicare rate: $3,128 (+2.1% YoY)
- Medical Solutions: 4.8% revenue growth, 10.5% margin expansion
- Liquidity: $260M (cash $84M, revolver undrawn)
- 2025 cash flow: Free cash flow expected, 53rd week impact in Q4

**【Q&A Key Takeaways】**
- 2025 guidance: Prudent vs conservative, Q1 seasonality (payroll taxes), EBITDA build in Q2+
- M&A strategy: Tuck-in acquisitions in PDS/HHH, no leverage expansion
- Medicaid policy: Cost-saving positioning, 17 preferred payors in MS
- PDS spread: $10-10.50 target, 30 preferred payor goal for 2025
- HHH growth: 1-3% organic, MS volume muted in 2025
- Risk: Labor market dynamics, reimbursement rate execution

Actual	0.08	0.1	0.11	0.1	0.04	0.03	-0.03	-0.03	-0.05	-0.02	-0.03	-0.02	-0.03	0.01	0.02	0.05	0.1	0.18	0.15	0.17
Forecast	0.0739	0.1015	0.118	0.1115	0.0601	0.0585	0.0368	-0.0213	-0.0602	-0.0365	-0.0218	-0.0249	-0.0499	-0.0205	-0.0125	0.0005	-0.0031	0.0358	0.1017	0.1505
Surprise	+8.25%	-1.48%	-6.78%	-10.31%	-33.44%	-48.72%	-181.52%	-40.85%	+16.94%	+45.21%	-37.61%	+19.68%	+39.88%	+148.78%	+260.00%	+9900.00%	+3325.81%	+402.79%	+47.49%	+12.96%

AVAH

AVAH fundamentals

AVAH Q4 2025 Earnings

Earnings Call

You can ask Aime

AVAH

AVAH fundamentals

AVAH Q4 2025 Earnings

Earnings Call

AVAH Earnings Call Summary for Q4/202510:00 AM on Mar 19, 2026

AVAH Earnings Call Summary for Q3/202510:00 AM on Nov 6, 2025

AVAH Earnings Call Summary for Q2/202510:00 AM on Aug 7, 2025

AVAH Earnings Call Summary for Q1/202510:00 AM on May 8, 2025

AVAH Earnings Call Summary for Q4/202410:00 AM on Mar 13, 2025

You can ask Aime