BATON ROUGE, La. - Amedisys, Inc. (NASDAQ: NASDAQ:AMED), a leading healthcare at home company, reported its fourth quarter financial results, revealing a mixed performance. The company posted adjusted earnings per share (EPS) of $0.94, falling short of analysts' expectations of $1.03. However, revenue for the quarter was robust at $570.8 million, surpassing the consensus estimate of $567.4 million and marking an increase from $562.0 million in the same quarter last year. Despite the EPS miss, the company's stock price saw a modest uptick of 0.35%, indicating a positive market response to the strong revenue figures.
The company's net service revenue saw a rise of $8.8 million compared to the previous year's fourth quarter, even after accounting for the divestiture of its personal care business in March 2023. The reported net income attributable to Amedisys, Inc. was $19.3 million, which included $11.5 million in costs associated with merger transactions. This figure is down from the $31.7 million reported in the same period last year. On a diluted per-share basis, net income was $0.59, a decrease from $0.97 in the prior year.
The adjusted net income, which excludes certain items, was $30.8 million, a decline from $38.0 million in the fourth quarter of the previous year. The adjusted net income per diluted share was $0.94, down from $1.16 in the same quarter last year. The company's adjusted EBITDA also experienced a slight decrease to $56.7 million from $59.9 million year-over-year (YoY).
Amedisys highlighted its commitment to delivering high-quality care to patients' doorsteps, with over 3,000 hospitals and 110,000 physicians nationwide choosing Amedisys as a partner in post-acute care. The company's focus on personalized home health, hospice, and high acuity care services continues to be a cornerstone of its operations.
In light of the pending merger with UnitedHealth Group Incorporated (NYSE:UNH), Amedisys did not conduct a quarterly earnings call to discuss the results. The company's financial performance reflects its ongoing efforts to navigate the complexities of the healthcare industry while maintaining a steadfast dedication to patient care.
InvestingPro Insights
Amedisys, Inc. (NASDAQ: AMED) has demonstrated resilience in its recent financial performance, with its latest quarterly revenue exceeding analyst expectations. The market has acknowledged this robust revenue, as reflected in a slight increase in the company's stock price post-earnings announcement.
InvestingPro data underscores the strength of Amedisys's financials, with a significant gross profit margin of 44.28% over the last twelve months as of Q3 2023. This high margin indicates the company's efficiency in managing its cost of sales and its ability to retain a substantial portion of revenue as gross profit.
While the company's revenue growth has been modest at 0.32% over the last twelve months as of Q3 2023, the stability in revenue streams is a positive sign for investors looking for steady performance. Moreover, the company's operating income margin of 8.7% over the same period suggests that Amedisys is maintaining a healthy level of profitability in its operations.
InvestingPro Tips reveal that Amedisys is currently trading at a high earnings multiple, with an adjusted P/E ratio of 17.88. This could indicate that investors are expecting higher earnings growth in the future. Additionally, the company's stock generally trades with low price volatility, which might appeal to investors seeking stable investment options.
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