Enhabit (EHAB) Misses Q3 Earnings and Revenue Estimates

Core Viewpoint - Enhabit reported quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.04 per share, representing a -25% earnings surprise [1] - The company posted revenues of $253.6 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.09% [2] Financial Performance - Enhabit has surpassed consensus EPS estimates three times over the last four quarters [2] - Year-over-year revenue comparison shows a decline from $258.3 million to $253.6 million [2] - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $272.56 million, and for the current fiscal year, it is $0.26 on revenues of $1.06 billion [7] Stock Performance - Enhabit shares have declined approximately 26.6% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Medical Services industry, to which Enhabit belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Enhabit's stock performance [5]