AdaptHealth reports Q3 EPS ($3.43), consensus 20c

Reports Q3 revenue $804.03M, consensus $796.6M. “We are pleased with the results of the third quarter,” said Richard Barasch, Chairman and Interim CEO of AdaptHealth. “Powered by our sleep products, we generated 6.3% growth over last year, leading to record revenues for the quarter. Equally important, we generated cash flow from operations of $98.8 million and free cash flow of $21.7 million. Adjusted EBITDA fell short of our expectations largely as a result of unplanned delays in the implementation of the Humana contract. Nevertheless we believe that this contract will prove to be profitable for AdaptHealth.” Barasch continued, “We believe we are well-positioned to continue our historical trend of year over year growth in revenue and profitability.”