Why AdaptHealth Stock Trading Is Lower Today
Portfolio Pulse from Vandana Singh
AdaptHealth Corp reported Q3 net revenue of $804.0 million, up 6.3% Y/Y, beating consensus estimates. However, the company reported a net loss of $454.1 million due to a $511.9 million pre-tax write-down of goodwill. The company's adjusted EBITDA was $161.2 million, a slight increase from $160.2 million. The company's shares are down 15.21% following the announcement.
November 07, 2023 | 6:53 pm
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AdaptHealth reported a net loss due to a write-down of goodwill, despite beating revenue estimates. This has led to a drop in the company's share price.
AdaptHealth's financial results were mixed, with revenue beating estimates but a significant net loss due to a write-down of goodwill. This has negatively impacted investor sentiment, leading to a drop in the company's share price.
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