Aveanna Healthcare Holdings Announces Fourth Quarter and Full Year 2024 Financial Results and 2025 Outlook

Core Insights - Aveanna Healthcare Holdings Inc. reported strong financial results for the fourth quarter and fiscal year ended December 28, 2024, with significant growth in revenue and adjusted EBITDA, indicating a successful transformation year for the company [2][9]. Financial Performance - For the fourth quarter of 2024, revenue reached $519.9 million, an increase of 8.6% from$ 478.8 million in the same period of 2023, driven primarily by growth in the Private Duty Services segment [3][9]. - Adjusted EBITDA for the fourth quarter was $55.2 million, representing a 42.8% increase compared to$ 38.7 million in the fourth quarter of 2023 [6][9]. - The fiscal year 2024 revenue totaled $2,024.5 million, up 6.8% from$ 1,895.2 million in fiscal year 2023, with adjusted EBITDA increasing by 31.9% to $183.6 million [7][11]. Profitability Metrics - Gross margin for the fourth quarter was$ 171.7 million, or 33.0% of revenue, compared to $148.4 million, or 31.0% of revenue, in the prior year, reflecting a 15.7% increase [4][9]. - The company achieved net income of$ 29.2 million in the fourth quarter of 2024, a turnaround from a net loss of $25.7 million in the same quarter of 2023 [5][9]. - For the fiscal year 2024, the net loss was reduced to$ 10.9 million from a loss of $134.5 million in fiscal year 2023, with adjusted net income per diluted share improving to$ 0.06 from a loss of $(0.11) [10][11]. Segment Performance - The Private Duty Services segment saw revenue increase by$ 38.7 million in the fourth quarter, while the Medical Solutions segment contributed an additional $2.0 million [3][7]. - The Home Health & Hospice segment experienced a slight revenue increase of$ 0.3 million, indicating stable performance [3]. Guidance and Future Outlook - The company provided guidance for fiscal year 2025, projecting revenue between $2.10 billion and$ 2.12 billion, and adjusted EBITDA between $190 million and$ 194 million [9][14]. - Management emphasized the focus on enhancing government and payor partnerships and leveraging their care platform to deliver high-quality, cost-effective care [2][13].