Tag: Financial Results
Inogen remains focused on growth, innovation, profitability
November 7, 2024HME News Staff
GOLETA, Calif. - Inogen reported total revenue of $88.8 million for the third quarter of 2024, a 5.8% increase year over year, driven by higher demand and new customer gains across the domestic and international business-to-business channels.
Those gains were partially offset by lower direct-to-consumer sales and rental revenue.
“We continued to make significant progress on our strategic priorities in the third quarter,” said Kevin Smith, president and CEO. Our...
In brief: AdaptHealth’s static revenue, bid program’s impact, AOM’s Western expansion
November 6, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported third quarter net revenue of $805.9 million compared to $804 million, an increase of 0.2% year over year.
Net income attributable to AdaptHealth was $22.9 million vs. a net loss of $454.1 million. Adjusted EBITDA was $164.3 million vs. $161.2 million, an increase of 1.9%
“I continue to be optimistic about the road ahead,” said Suzanne Foster, CEO. “We have identified growth opportunities, we are assembling a high...
AdaptHealth’s revenues are static in Q3
November 5, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth reported third quarter net revenue of $805.9 million compared to $804 million, an increase of 0.2% year over year.
Net income attributable to AdaptHealth was $22.9 million vs. a net loss of $454.1 million. Adjusted EBITDA was $164.3 million vs. $161.2 million, an increase of 1.9%
“I continue to be optimistic about the road ahead,” said Suzanne Foster, CEO. “We have identified growth opportunities, we are assembling a high...
Owens & Minor sees ‘solid top-line results’
November 4, 2024HME News Staff
RICHMOND, Va.– Owens & Minor reported consolidated revenue of $2.7 billion in the third quarter of 2024, an increase of 5% year over year.
Of that, the company’s Patient Direct business had revenue of $687 million, up 6%, driven by strength in several categories, led by diabetes and sleep supplies. Adjusted EBITDA was $142 million, up 5%; and total debt reduction was $198 million.
“Our third quarter results demonstrated our ability to deliver on our commitments...
Philips reports improvement in profitability
October 28, 2024HME News Staff
AMSTERDAM – Philips reported group sales of EUR 4.4 billion, with flat comparable growth, and adjusted EBITDA margin of 11.8%, up 160 basis points, for the third quarter of 2024.
In the Connected Care business, the company reported comparable sales were flat, with growth in Enterprise Informatics and Sleep & Respiratory Care offset by a low-, single-digit decline in Monitoring, on the back of high-teens growth in the same period last year.
“Strong improvement in profitability...
ResMed highlights ‘ongoing momentum’
October 25, 2024HME News Staff
SAN DIEGO – ResMed’s revenue increased by 11% to $1.2 billion for the first quarter of 2025.
It reported net income of $311.4 million, a 42% increase.
Other results:
Gross margin improved 420 bps to 58.6%; non-GAAP gross margin improved 320 bps to 59.2%
Income from operations increased 34%; non-GAAP income from operations up 27%
Operating cash flow of $326 million
Diluted earnings per share of $2.11; non-GAAP diluted earnings per share...
Quipt eyes acquisitions
August 15, 2024HME News Staff
CINCINNATI – Quipt Home Medical, which reported revenue of $64 million for the third quarter of 2024, a 6.1% increase year over year, says it is “focused on identifying synergistic acquisition candidates” in the wake of Owens & Minor buying Rotech Healthcare.
“The recent acquisition of a larger peer in our industry underscores the significant valuation gap we have in the marketplace compared to our fundamentals,” said CEO and Chairman Greg Crawford. “Furthermore,...
Inogen makes ‘meaningful progress’
August 6, 2024HME News Staff
GOLETA, Calif. – Inogen reported total revenue increased 6.1% to $88.8 million for the second quarter, primarily driven by higher demand and new customers in international and domestic business-to-business sales.
It reported a net loss of $5.59 million vs. a net loss of $9.83 million year over year.
“I am proud of the performance of our team in the first half of 2024,” said Kevin Smith, president and CEO. “We have made meaningful progress on our strategic...
Owens & Minor: ‘We’re only getting started’
August 6, 2024Theresa Flaherty, Managing Editor
RICHMOND, Va. – Owens & Minor’s Patient Direct segment is experiencing “considerable tailwinds” driven by the large numbers of U.S. adults suffering from chronic health conditions, company execs say.
In particular, the company continues to see growth in diabetes and sleep therapy, despite the “groundswell of support” for GLP-1 weight loss drugs, CEO Edward Pesicka told investors on a recent call to discuss the company’s second quarter 2024 earnings.
“We’re...
AdaptHealth reports ‘consistent’ quarter
August 6, 2024HME News Staff
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...