Encompass Health ( (EHC) ) has realeased its Q3 earnings. Here is a breakdown of the information Encompass Health presented to its investors.
Encompass Health Corporation is the largest owner and operator of inpatient rehabilitation hospitals in the United States, providing advanced rehabilitative care for patients recovering from major injuries or illnesses across a vast network of 165 hospitals in 38 states and Puerto Rico.
Encompass Health has released its financial results for the third quarter of 2024, reporting a significant increase in revenue and profitability. The company has also updated its full-year guidance to reflect higher expectations, showcasing robust growth despite challenging conditions.
The company reported a 11.9% increase in net operating revenue, reaching $1.351 billion, primarily driven by an 8.8% growth in discharges and a 2.5% increase in net patient revenue per discharge. Additionally, Encompass Health’s adjusted EBITDA rose by 13.4% to $269.3 million, and cash flows from operating activities increased by 24.4% to $267.8 million. The company attributes these improvements to strong discharge growth and effective management through adverse conditions such as hurricanes.
Moreover, Encompass Health has revised its full-year 2024 guidance, now projecting net operating revenue between $5.325 billion and $5.375 billion, and adjusted earnings per share from continuing operations in the range of $4.19 to $4.33, reflecting a positive outlook for the remainder of the year.
Looking ahead, Encompass Health remains committed to expanding its services and maintaining its position as a leader in the inpatient rehabilitation sector, focusing on delivering high-quality care and optimizing financial performance, even amidst ongoing industry challenges.
