ATI Physical Therapy sees FY23 revenue $680M-$695M, consensus $670.1M

FY23 revenue view represents 7%-9% year-over-year growth. The Company anticipates it will continue increasing patient visits steadily through the second half of 2023 as it executes on its people, operations and commercial strategies. Sees FY23 Adjusted EBITDA $30M-$36M. As ATI continues optimizing its geographic footprint in 2023, the Company expects to close underperforming clinics and consolidate locations in certain markets, while opening new clinics in markets where it sees incremental growth opportunities. This is expected to result in a net reduction of approximately 20 clinics for FY23.