Why AdaptHealth Stock Got Thrashed on Tuesday

Core Viewpoint - AdaptHealth reported disappointing third-quarter results, missing analyst expectations for revenue, profitability, and guidance, leading to a nearly 10% drop in stock price [1][2][3] Financial Performance - Revenue for the third quarter was just under $806 million, showing marginal year-over-year growth [2] - Net income was approximately $23 million ($0.15 per share), a significant recovery from a loss of over $454 million in the same quarter last year [2] - The earnings per share fell short of the consensus estimate of $0.19 [3] Guidance Adjustments - The company revised its full-year revenue guidance down to $3.22 billion to $3.26 billion, from a previous range of nearly $3.26 billion to almost $3.32 billion [4] - Adjusted EBITDA guidance was also lowered to $655 million to $675 million, down from $660 million to $700 million [5] - Conversely, free cash flow guidance for 2024 was increased to $175 million to $195 million, up from the previous range of $160 million to $180 million [5]