AdaptHealth reports ‘consistent’ quarter 

PLYMOUTH MEETING, Pa. – AdaptHealth reported revenues of $806 million for its second quarter 2024, an increase of 1.6% over $793.3 million during the same quarter in 2023. 

Net income attributable to AdaptHealth Corp. was $19.4 million compared to net income of $14 million, an increase of 39%. Adjusted EBITDA was $165.3 million compared to $171 million, a decrease of 3.3%. 

“I want to recognize the team for delivering another consistent quarter with results in line with our expectations for net revenue, adjusted EBITDA and free cash flow,” said Suzanne Foster, CEO. “I joined this team because I believe in our purpose and the vital role we play in improving health care. I am optimistic about the road ahead and look forward to working as One Adapt, a unified team, to support our patients in their homes.” 

Subsequent to June 30, 2024, AdaptHealth signed a definitive agreement for the disposition of certain non-core assets, and the transaction is expected to close in the third quarter of 2024. 

AdaptHealth has updated previous financial guidance for fiscal year 2024 by adjusting the midpoint for net revenue to account for the disposition of certain non-core assets; however, the company is maintaining the midpoint for adjusted EBITDA and increasing the midpoint for free cash flow. It expects: 

• Net revenue of $3.255 billion to $3.315 billion from $3.25 billion to $3.35 billion; 
• Adjusted EBITDA of $660 million to $700 million from $650 million to $710 million; 
• Free cash flow of $160 million to $180 million from $150 million to $180 million.