Q2 25 EPS
$0.10
MISS 36.79%
Est. $0.16
Q2 25 Revenue
$800.4M
MISS 0.43%
Est. $803.8M
vs S&P Since Q2 25
-18.4%
TRAILING MARKET
AHCO -1.6% vs S&P +16.8%
Market Reaction
Did AHCO Beat Earnings? Q2 2025 Results
AdaptHealth fell short of Wall Street expectations in Q2 2025, delivering earnings of $0.10 per share against a consensus estimate of $0.16, a miss of 36.79%, while revenue of $800.37 million edged just 0.43% below the $803.80 million forecast despit… Read more AdaptHealth fell short of Wall Street expectations in Q2 2025, delivering earnings of $0.10 per share against a consensus estimate of $0.16, a miss of 36.79%, while revenue of $800.37 million edged just 0.43% below the $803.80 million forecast despite growing 34.5% year over year. The headline disappointment was driven largely by margin compression, as cost of net revenue climbed to $645.71 million even as top-line results softened, pushing Adjusted EBITDA down 5.9% to $155.54 million and squeezing the Adjusted EBITDA margin to 19.4% from 20.5% a year ago. A surge in income tax expense to $35.89 million, tied partly to gains on divested incontinence and infusion assets, further weighed on net income, which fell to $14.67 million from $19.43 million. On the forward-looking side, AdaptHealth narrowed its full-year revenue guidance to $3.18 billion to $3.26 billion while trimming its Adjusted EBITDA outlook to $642 million to $682 million, signaling continued near-term pressure even as management pointed to a new capitated partnership with a major national healthcare system as a long-term growth catalyst.
Key Takeaways
- • New capitated partnership with a major national healthcare system
- • Multiple initiatives to boost operating efficiency and expand profit margins
- • Rapid progress in debt reduction and financial position strengthening
- • Gain on sale of incontinence and infusion assets in Wellness at Home segment
AHCO YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“AdaptHealth's momentum continues to build. We delivered another quarter of solid results in the second quarter. We are driving revenue growth, underscored by today's milestone announcement of a new capitated partnership with a major national healthcare system. We are advancing multiple initiatives to boost operating efficiency, elevate the patient experience, and expand our profit margins. And we are making rapid progress reducing debt and fortifying our financial position. Step by step, we are executing on a focused plan to unlock the full value of our enterprise, guided by our dedication to providing exceptional service to the 4.2 million patients that depend on us.”
— Suzanne Foster, Q2 2025 Earnings Press Release
AHCO Earnings Trends
AHCO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AHCO EPS Trend
Earnings per share: estimate vs actual
AHCO Revenue Trend
Quarterly revenue: estimate vs actual
AHCO Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 MISS | $0.01 | $-0.12 | -1,125.64% | $819.8M | +2.91% |
| Q4 25 MISS FY | $0.34 | $-0.76 | -323.86% | $846.3M | +1.77% |
| FY Full Year | $0.71 | $-0.52 | -172.93% | $3.24B | +0.45% |
| Q3 25 MISS | $0.24 | $0.16 | -33.14% | $820.3M | +2.63% |
| Q2 25 MISS | $0.16 | $0.10 | -36.79% | $800.4M | -0.43% |
| Q1 25 MISS | $0.04 | $-0.05 | -225.00% | $777.9M | +1.71% |