AdaptHealth (AHCO) Q3 2026 Earnings
Includes a $184.8 million pre-tax non-cash goodwill impairment (Respiratory Health and Wellness at Home reporting units), partially offset by a $12.0 million pre-tax gain on deconsolidation of the former eCommerce subsidiary; also includes $14.3 million net income from discontinued operations (Diabetes Health). Diluted loss per share from continuing operations was $(1.23).
How Did AHCO Stock React to Q3 2026 Earnings?
Did AHCO Beat Earnings? Q3 2026 Results
No. AdaptHealth reported Q3 2026 earnings of $-1.13 a share on Nov 3, 2026, missing the $-0.06 consensus estimate by 1,665.6%. Revenue was $745.6M against a $725.9M estimate.
AdaptHealth Corp. delivered a sharply mixed third quarter of 2026, beating revenue expectations while posting a GAAP loss that dwarfed what Wall Street had anticipated. Revenue came in at $745.65 million, topping the $725.87 million consensus by 2.73%, though the figure still represented a 9.1% decline from a year earlier as the company's Diabetes Health segment is now classified as discontinued operations. The real story was on the bottom line: GAAP earnings per share of negative $1.13 missed the negative $0.06 consensus by 1,665.62%, a gap driven primarily by a $184.75 million pre-tax non-cash goodwill impairment tied to the Respiratory Health and Wellness at Home reporting units, partially offset by a $12.00 million gain on deconsolidation of the former eCommerce subsidiary. Analysts had already trimmed their price targets ahead of the print, reflecting broader uncertainty around the stock. Looking ahead, management raised its full-year revenue guidance to $2.88 billion to $2.90 billion and lifted its Adjusted EBITDA target to $510 million to $525 million, though free cash flow guidance was cut to $50 million to $75 million from a prior range of $80 million to $120 million.
- Organic revenue growth of 12.8% with growth across all reportable segments
- Capitated agreement with a large national integrated delivery network improved sequentially as utilization fell below peak levels and labor costs declined
- Capitated partnership made a positive contribution to enterprise Adjusted EBITDA through a tighter labor model and lower costs to serve
- $184.8 million pre-tax goodwill impairment in Respiratory Health and Wellness at Home drove the GAAP net loss
- $12.0 million gain on deconsolidation of the former eCommerce subsidiary
- Higher purchases of equipment and other fixed assets reduced free cash flow
“In the third quarter, we delivered strong organic revenue growth and exceeded our guidance for revenue, Adjusted EBITDA and free cash flow.”
AdaptHealth CEO, on the earnings call
What Is AdaptHealth's Outlook?
AdaptHealth revised its fiscal 2026 guidance. The guidance is on a continuing operations basis, excluding Diabetes Health, except free cash flow, which includes discontinued operations: - Net revenue raised to $2.88 billion–$2.90 billion, from $2.85 billion–$2.89 billion. - Adjusted EBITDA raised to $510 million–$525 million, from $490 million–$520 million. - Free cash flow lowered to $50 million–$75 million, from $80 million–$120 million. The Diabetes Health sale is on track to close in early 2027, and management expects to carry its stabilization momentum into 2027.
AHCO YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $745.6M | $820.3M | −9.1% |
Figures from SEC filings and company reports. Not investment advice.