Investors interested in Medical - Products stocks are likely familiar with AdaptHealth Corp. (AHCO) and Haleon PLC Sponsored ADR (HLN) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and ...

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AdaptHealth Corp. (AHCO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.AdaptHealth Corp. is a member of our Medical group, which includes 1067 d ...

Financial Data and Key Metrics Changes - For the full year 2023, net revenue grew by 7.7% and adjusted EBITDA increased by 13% compared to the prior year, marking the fourth consecutive year of growth in both top and bottom lines [5][15] - Cash flow from operations reached $480.7 million, a 28.6% increase year-over-year, while free cash flow improved significantly to $143 million [15][19] - The net leverage ratio decreased from 3.69x to 3.16x, with expectations to fall below 3x by the end of 2024 [6][20] Business Line Data and Key Metrics Changes - The sleep product line was a primary driver, with revenue growth of 16% for the year and 15.2% in Q4, supported by a 12% increase in resupply census [7][16] - Respiratory revenue increased by nearly 8% for the year and 10% in Q4, with the oxygen census reaching over 315,000 patients [8][16] - Diabetes revenue declined by 3.8% in Q4 due to market shifts towards tubeless pumps, although CGM revenue grew by 1% despite reimbursement pressures [9][17] Market Data and Key Metrics Changes - The company has increased its market share in the CPAP and related supplies category, now being the number one provider in the U.S. [7] - Government-sponsored payers accounted for 79% of CGM census in Q4, reflecting a 30 basis point increase from the previous quarter [9] Company Strategy and Development Direction - The company aims for mid- to upper-single digit growth in 2025 and beyond, focusing on regaining market rates of growth in diabetes and maintaining dominance in sleep and respiratory categories [27][24] - AdaptHealth is enhancing its role in the healthcare ecosystem by providing care in home and community settings, leveraging data to improve patient outcomes [13][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming potential long-term pressures from GLP-1 drugs on CGM growth, believing that increased awareness of related comorbidities will benefit the business [10][12] - The company anticipates revenue for 2024 to be in the range of $3.25 billion to $3.35 billion, with adjusted EBITDA between $650 million and $710 million [21] Other Important Information - A $318.9 million pretax write-down to goodwill was recorded due to a reduction in stock price, along with a $25 million charge related to a pending securities action [20] - The company is actively searching for a new CEO, with promising candidates in the recruitment process [14] Q&A Session Summary Question: What is the normalized growth rate expected post-2024? - Management targets mid- to upper-single digit growth in 2025 and beyond, focusing on diabetes and maintaining dominance in sleep and respiratory [27] Question: Any seasonality factors affecting cash flow in 2024? - Cash flow is expected to follow a similar pattern as 2023, with Q1 being pressured and Q4 typically being the strongest quarter [28] Question: What was the final tally on pump revenue for 2023? - Pump revenue for 2023 was approximately $120 million, with expectations of a headwind of about $20 million in 2024 [31][32] Question: How does resupply growth compare to rental performance in 2024? - Resupply operations are expected to grow at higher-single digits, while rental revenue is anticipated to be flat due to tough comparables [34] Question: What is the outlook for the diabetes franchise? - Management expects to see growth in the diabetes segment in 2024, particularly from government programs and new product launches [39][41] Question: How will the expiration of the 75/25 rule impact product categories? - The sleep category, making up about 40% of revenue, is expected to be impacted the most, along with respiratory products [70]

Shares of AdaptHealth (AHCO 27.00%) were skyrocketing Tuesday morning, up 29.7% as of 10:56 a.m. ET. That huge gain came after the home medical equipment and supplies provider announced its 2023 fourth-quarter and full-year results before the opening bell.AdaptHealth reported net revenue in the fourth quarter of $858.2 million, up 10% year over year. The average analysts' estimate was for revenue of $825.4 million. The company posted a net loss in Q4 of $254.5 million, or $1.91 per share. This result was we ...

Exhibit 99.1 FOR IMMEDIATE RELEASE ADAPTHEALTH CORP. ANNOUNCES FOURTH QUARTER AND FULL-YEAR 2023 RESULTS AND PROVIDES INITIAL 2024 OUTLOOK PLYMOUTH MEETING, Pa. – February 27, 2024 - AdaptHealth Corp. (NASDAQ: AHCO) ("AdaptHealth" or the "Company"), a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and related services, announced today financial results for the fourth quarter and fiscal year ended December 31, 2023. Full Year 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 220 West Germantown Pike Suite 250, Plymouth Meeting, PA 19462 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-38399 AdaptHealth Corp. (Exact name of registrant as specified in its charter) Delaware 82-3677704 (State of Other ...

DALLAS--(BUSINESS WIRE)--Peloton Equity, LLC (“Peloton”), a Connecticut-based private equity firm that seeks to invest growth capital in innovative healthcare companies, announced today that it has closed an investment in OnPoint Healthcare Partners, Inc. (“OnPoint” or the “Company”), a fast-growing AI-enabled technology services provider that offers a suite of solutions to hospitals and medical groups designed to reduce physician burnout and improve administrative efficiencies. The investment is led by Pel ...

AdaptHealth Corp. (NASDAQ:AHCO) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET Company Participants Richard Barasch - Interim Chief Executive Officer Jason Clemens - Chief Financial Officer Conference Call Participants Matthew Blackman - Stifel Pito Chickering - Deutsche Bank Richard Close - Canaccord Genuity Joanna Gajuk - Bank of America Eric Coldwell - Baird Operator Good day, everyone, and welcome to today's AdaptHealth Third Quarter 2023 Earnings Release Call. At this time, all participan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-38399 AdaptHealth Corp. (Exact name of registrant as specified in its charter) (Address of principal executive offices) (Zip code) Registrant's telephone number, includ ...

Financial Data and Key Metrics Changes - Revenue for Q2 2023 was $793.3 million, an increase of 9.0% year-over-year, with non-acquired revenue up 8.7% [18] - Adjusted EBITDA for the quarter was $171 million, reflecting a 14% increase year-over-year and an adjusted EBITDA margin of 21.6% [20] - Cash flow from operations was $86.3 million, with free cash flow for the first half of the year at $54.8 million [21] Business Line Data and Key Metrics Changes - Sleep revenue reached $303 million, a 16% increase year-over-year, driven by a 41% growth in PAP equipment patient census and an 11% increase in resupply orders [19] - Respiratory revenue was $154 million, up 13% year-over-year, marking the strongest patient acquisition quarter since Q4 2021 [19] - Diabetes revenue increased by 2% year-over-year, with a 13% rise in CGM patient census offsetting declines in pump orders [20] Market Data and Key Metrics Changes - Government-sponsored payers now account for 77% of the CGM census, an increase of 900 basis points year-over-year [12] - The company is seeing stabilization in the length of time patients are on oxygen and vents, which had decreased during the pandemic [9] Company Strategy and Development Direction - The company is focusing on enhancing its diabetes business, particularly in the government sector, where CGM and pump markets are expanding [11] - A new relationship with Humana aims to provide home medical equipment to Medicare Advantage members, which is expected to enhance patient care and operational metrics [14] - The company is committed to achieving $25 million in cost savings through operational improvements and technology investments [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate inflationary pressures through technology and process improvements [15] - The outlook for Q3 anticipates revenue growth of just over 5% year-over-year, with adjusted EBITDA margins expected to remain consistent with Q2 [22] - Management is optimistic about the operational improvements and the impact of the Humana agreement in the second half of the year [23] Other Important Information - The company is undergoing a transition in leadership with Crispin Teufel set to join as the new CEO [6] - The company has implemented a full warehouse management system to improve efficiency and reduce costs [39] Q&A Session Summary Question: What are the normalized growth rates for the diabetes business? - Management expects mid to upper single-digit growth for the diabetes product line by 2025, with modest low-single-digit growth anticipated for the remainder of 2023 [26] Question: How will Philips' return to the market affect margins and growth? - Management believes Philips' reentry will be beneficial for the market, but does not expect significant changes to their current supply chain or pricing dynamics [29] Question: What is the expected benefit of the Humana contract? - The Humana contract is expected to contribute to sequential growth in sleep, respiratory, and HME categories, although specific revenue expectations are not yet available [32] Question: What is the outlook for equipment buy-ins related to the Humana contract? - Management is confident that the revenue from the Humana contract will align with existing CapEx projections and will not require significant additional investment [35] Question: What is the status of the warehouse system upgrades? - The company has successfully integrated a new warehouse management system, which is expected to enhance efficiency and reduce costs moving forward [37] Question: What is the outlook for Medicare rates and competitive bidding? - Management believes competitive bidding will not disappear and expects future announcements regarding the program, but timing remains uncertain [60]