Amedisys (AMED) Q4 2024 earnings summary

Executive summary

• Revenue grew 5% year-over-year in Q4 2024 to $598.1M, with full-year revenue at $2.35B.

• Adjusted EBITDA for Q4 2024 was $54.6M; adjusted EPS was $0.96.

• Home Health same store admissions increased 8%, Hospice average daily census up 0.5%, and High Acuity Care admissions rose 29%.

• Quality scores remain industry-leading, with 88% of care centers at 4+ Stars and Hospice quality outperforming industry averages.

• Pending merger with UnitedHealth Group Inc. and regulatory reimbursement increases for 2025 announced.

Financial highlights

• Q4 2024 consolidated revenue: $598.1M; full year 2024: $2,348.3M.

• Adjusted EBITDA margin for Q4 2024: 9.1%; full-year margin: 10.5%.

• Free cash flow in Q4 2024: $59.8M; full year: $180.7M.

• Net debt at $75.7M; net leverage ratio 0.3x; total liquidity $814.4M.

• Cash and cash equivalents at year-end were $303.2M, up from $138.9M a year earlier.

Outlook and guidance

• 2025 reimbursement: Hospice industry rate +2.9% (effective 10/1/24), Home Health +0.5% (effective 1/1/25).

• Focus on organic growth, employee retention, and clinical quality initiatives.