AdaptHealth Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 07:03 am EST
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AdaptHealth Corp. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 804.03 million compared to USD 756.5 million a year ago. Net loss was USD 454.08 million compared to net income of USD 16.12 million a year ago. Basic loss per share from continuing operations was USD 3.37 compared to basic earnings per share from continuing operations of USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 3.43 compared to diluted earnings per share from continuing operations of USD 0.11 a year ago.
For the nine months, sales was USD 2,341.94 million compared to USD 2,190.31 million a year ago. Net loss was USD 424.39 million compared to net income of USD 71.9 million a year ago. Basic loss per share from continuing operations was USD 3.15 compared to basic earnings per share from continuing operations of USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 3.37 compared to diluted earnings per share from continuing operations of USD 0.35 a year ago.
Adapthealth Corp. provides patient-centered, healthcare-at-home solutions, including home medical equipment (HME), medical supplies and related services. The Company is primarily focused on providing sleep therapy equipment, supplies and related services, including CPAP and bi PAP services to individuals suffering from obstructive sleep apnea (OSA); medical devices and supplies to patients for the treatment of diabetes, including continuous glucose monitors (CGM) and insulin pumps; home medical equipment 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. The Company services beneficiaries of Medicare, Medicaid, and commercial insurance payors. It serves patients annually in all 50 states through its network of approximately 680 locations in 47 states.