Companies /Healthcare
AdaptHealth Corp
NASDAQ: AHCO Medical Devices
$5.88
▲ $0.11 (+1.91%) today
Markets closed · 6:00pm ET

AdaptHealth (AHCO) Q1 2025 Earnings

Reported May 6, 2025, 7:07am ET · SEC source
$-0.05
Miss −225.00%
EPS · est. $0.04
$777.9M
Beat +1.71%
Revenue · est. $764.8M
−6.7%
Trailing market
AHCO vs S&P since report
6 quarters
Consecutive EPS misses

How Did AHCO Stock React to Q1 2025 Earnings?

% change · around the report
0+6%+12%+18%May 6May 7report 7:07am ETearnings+0.2%−2.9%
0+6%+12%+18%May 6May 7earnings+0.2%−2.9%
AHCO −2.9%S&P 500 +0.2%
0+6%+12%+18%May 6May 7report 7:07am ETearnings+0.1%−2.9%
0+6%+12%+18%May 6May 7earnings+0.1%−2.9%
AHCO −2.9%NASDAQ +0.1%
−14%−7%0+7%May 5May 14report 7:07am ETearnings+5.1%−9.1%
−14%−7%0+7%May 5May 14earnings+5.1%−9.1%
AHCO −9.1%S&P 500 +5.1%
−16%−8%0+8%May 5May 14report 7:07am ETearnings+7.3%−9.1%
−16%−8%0+8%May 5May 14earnings+7.3%−9.1%
AHCO −9.1%NASDAQ +7.3%
+1.72%
Day of report
−6.95%
Next session
+1.98%
One week
+0.56%
30 days

S&P 500 over the same 30 days: +7.22%.

Did AHCO Beat Earnings? Q1 2025 Results

No. AdaptHealth reported Q1 2025 earnings of $-0.05 a share on May 6, 2025, missing the $0.04 consensus estimate by 225.0%. Revenue was $777.9M against a $764.8M estimate.

AdaptHealth delivered a split verdict in Q1 2025, posting revenue of $777.88 million that edged past the $764.77 million consensus by 1.71% and surged 30.9% year-over-year, yet stumbled badly on the bottom line, reporting an EPS of -$0.05 against an expected $0.04, a miss of 225.00%. The earnings shortfall was rooted in meaningful profitability compression, with Adjusted EBITDA falling 19.3% to $127.94 million and margins contracting to 16.4% from 20.0% a year earlier, as higher costs of net revenue weighed heavily on operating income. A bright spot was cash flow from operations, which nearly doubled to $95.53 million, reflecting tighter working capital management. Strategically, AdaptHealth continued reshaping its portfolio through asset divestitures in its Wellness at Home segment, which prompted a modest trim to full-year guidance, with net revenue now expected between $3.18 billion and $3.32 billion and Adjusted EBITDA between $665 million and $705 million, while free cash flow guidance of $180 million to $220 million held firm. Reports of a new DME acquisition suggest the company is quietly balancing dispositions with selective growth moves.

Key Takeaways
  • Diabetes Health segment showed signs of improvement for second consecutive quarter
  • Operating cash flow nearly doubled year-over-year to $95.5 million
  • Cost of net revenue increased to $657.4 million from $635.0 million, pressuring margins
  • Adjusted EBITDA margin contracted to 16.4% from 20.0%

“Amid elevated uncertainty in the external environment, we at AdaptHealth have stayed the course, with a relentless focus on improving our business and providing exceptional service to the 4.2 million patients that depend on us.”

AdaptHealth CEO, on the earnings call

What Was AdaptHealth's Outlook in Q1 2025?

AdaptHealth updated FY2025 guidance to reflect disposition of certain incontinence assets: Net revenue of $3.18 billion to $3.32 billion (from $3.22 billion to $3.36 billion); Adjusted EBITDA of $665 million to $705 million (from $670 million to $710 million); Free cash flow of $180 million to $220 million (unchanged).

AHCO YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$300.0M$600.0M$594.1M$777.9MRevenue$50.5M$23.2MOperating Income
$0$300.0M$600.0MRevenueOperating Income
AHCO income statement, Q1 2025 versus Q1 2024
Metric Q1 2025 Q1 2024 Year over year
Revenue $777.9M $594.1M +30.9%
Operating Income $23.2M $50.5M −54.2%

Figures from SEC filings and company reports. Not investment advice.