Amedisys Reports Third Quarter Financial Results

BATON ROUGE, La., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Amedisys, Inc. (NASDAQ:AMED), a leading home health and hospice company, today reported its financial results for the three and nine-month periods ended September 30, 2016.

Three-Month Periods Ended September 30, 2016 and 2015
  • Net service revenue increased $35.2 million to $361.6 million compared to $326.4 million in 2015.
  • Net income attributable to Amedisys, Inc. of $11.4 million compared to $8.4 million in 2015.
  • Net income attributable to Amedisys, Inc. per diluted share of $0.34 per diluted share compared to $0.25 in 2015.

Adjusted Results*
  • Adjusted net service revenue of $361.6 million compared to $326.4 million in 2015.
  • Adjusted net income attributable to Amedisys, Inc. of $12.1 million compared to $11.5 million in 2015.
  • Adjusted net income attributable to Amedisys, Inc. per diluted share of $0.36 compared to $0.34 in 2015.
  • Adjusted EBITDA (defined as net income (loss) attributable to Amedisys, Inc. before provision for income taxes, net interest expense and depreciation and amortization excluding certain items) of $25.6 million compared to $26.4 million in 2015.

Nine-Month Periods Ended September 30, 2016 and 2015
  • Net service revenue increased $129.0 million to $1,071.2 million compared to $942.2 million in 2015.
  • Net income attributable to Amedisys, Inc. of $28.3 million compared to $15.9 million net loss in 2015.
  • Net income attributable to Amedisys, Inc. per diluted share increased $1.32 to $0.84 compared to $0.48 net loss per diluted share in 2015.

Adjusted Results*
  • Adjusted net service revenue of $1,072.1 million compared to $942.2 million in 2015.
  • Adjusted net income attributable to Amedisys, Inc. of $37.2 million compared to $35.8 million in 2015.
  • Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.10 compared to $1.09 in 2015.
  • Adjusted EBITDA of $79.4 million compared to $84.4 million in 2015.

* See pages 10 and 11 for the reconciliations of non-GAAP financial measures to GAAP measures.

Paul B. Kusserow, President and Chief Executive Officer stated, "I am extremely proud of our organization for their dedication to delivering high-quality, low-cost care to our patients while the company continues to undergo a significant transition.  Our employees delivered solid results across all three business segments.  As outlined in our earnings preannouncement last week, we did encounter some challenges in home health volumes as well as increased health insurance and bad debt expenses.  However, as of October 31, our last group of care centers is live on HomeCare HomeBase, an effort that involved training over 11,000 employees over the course of only 15 months.  We are focused on continued growth and delivering on the operational efficiencies we have promised our shareholders.  At the same time, we are actively pursuing opportunities to reinvest in our business and deploy capital toward accretive acquisitions.  We are extremely excited about the opportunities in front of us as we continue to execute on our strategy."

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