Aveanna Healthcare(US:AVAH)2025-03-13 10:30Revenue Performance - Revenue for Q4 2024 was $519.9 million, an increase of 8.6% compared to $478.8 million in Q4 2023[4] - Full year 2024 revenue reached $2,024.5 million, a 6.8% increase from $1,895.2 million in 2023[8] - Revenue for the three-month period ended December 28, 2024, was $519,872,000, an increase of 8.6% compared to $478,841,000 for the same period in 2023[35] - Total revenue for the fiscal year ended December 28, 2024, was $1,634,609, up 7.6% from $1,518,811 in 2023[38] Profitability Metrics - Adjusted EBITDA for Q4 2024 was $55.2 million, representing a 42.8% increase from $38.7 million in Q4 2023[7] - Adjusted EBITDA for the three-month period ended December 28, 2024, was $55,208, compared to $38,663 in the same period of 2023[40] - Net income for Q4 2024 was $29.2 million, compared to a net loss of $25.7 million in Q4 2023[6] - Net income for the fiscal year ended December 28, 2024, was $29,180,000, compared to a net loss of $134,524,000 for the fiscal year ended December 30, 2023[35] - Adjusted net income for the fiscal year ended December 28, 2024, was $12,522,000, an improvement from a loss of $20,630,000 in the previous fiscal year[44] Cash Flow and Debt - Cash provided by operating activities for 2024 was $32.6 million, with free cash flow of $25.7 million[15] - Cash and cash equivalents at the end of the period increased to $84,288,000 from $43,942,000 at the beginning of the period[34] - As of December 28, 2024, the company had bank debt of $1,474.3 million, with interest rate exposure hedged through $520.0 million in interest rate swaps and $880.0 million in interest rate caps[15] - Total indebtedness as of December 28, 2024, was $1,474,300,000, with a significant portion attributed to the 2021 Extended Term Loan at an interest rate of S + 3.75%[34] Segment Performance - PDS segment revenue for the three-month period ended December 30, 2024, was $422,191, a 10.1% increase from $383,446 in the same period of 2023[37] - Gross margin for the PDS segment increased to $123,631, representing a 19.4% growth compared to $103,576 in the prior year[37] - HHH segment revenue for the three-month period ended December 30, 2024, was $54,423, a slight increase of 0.6% from $54,103 in the same period of 2023[37] Operational Metrics - Gross margin for Q4 2024 was $171.7 million, or 33.0% of revenue, up from $148.4 million, or 31.0% of revenue in Q4 2023[5] - Gross margin for the fiscal year 2024 was $444,461, a 4.9% increase from $423,720 in 2023[38] - Gross margin percentage for the fiscal year ended December 28, 2024, remained stable at 31.4% compared to the previous year[36] - Field contribution for the three-month period ended December 28, 2024, was $82,978,000, reflecting a 35.1% increase from $61,437,000 in the same period of 2023[36] Corporate Expenses and Adjustments - Corporate expenses for the fiscal year ended December 28, 2024, were $125,402,000, an increase of 10.9% from $113,034,000 in 2023[36] - Corporate expenses for the fiscal year ended December 28, 2024, increased to $18,443,000 from $15,388,000 in 2023[47] - Acquisition-related costs for the three-month period ended December 28, 2024, were $1,340,000, compared to no costs in the same period of 2023[47] - Total adjustments for the three-month period ended December 28, 2024, amounted to $(14,314,000), while for the fiscal year, it was $27,625,000[44] Shareholder Metrics - Adjusted net income per diluted share for Q4 2024 was $0.05, compared to an adjusted net loss per diluted share of $(0.02) in Q4 2023[6] - The weighted average shares outstanding, diluted, for the fiscal year ended December 28, 2024, was 199,349,000, compared to 189,956,000 in 2023[41]