Group 1 - Aveanna Healthcare reported quarterly earnings of $0.02 per share, exceeding the Zacks Consensus Estimate of a loss of $0.01 per share, and showing improvement from a loss of $0.03 per share a year ago, resulting in an earnings surprise of 300% [1] - The company achieved revenues of $509.02 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.67% and increasing from $478.01 million in the same quarter last year [2] - Aveanna has consistently outperformed consensus EPS and revenue estimates over the last four quarters, indicating strong operational performance [2] Group 2 - Since the beginning of the year, Aveanna shares have increased by approximately 79.5%, significantly outperforming the S&P 500's gain of 24.3% [3] - The future performance of Aveanna's stock will largely depend on management's commentary during the earnings call and the subsequent revisions of earnings estimates [4][6] - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $499.84 million, while for the current fiscal year, it is -$0.03 on revenues of $1.99 billion [7] Group 3 - The Medical - Outpatient and Home Healthcare industry, to which Aveanna belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable outlook for companies within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Revenue Performance - Third Quarter Revenue was $509.0 million, a 6.5% increase compared to $478.0 million in the prior year period[1] - Revenue for the three-month period ended September 28, 2024, was $509,023, an increase of 6.5% compared to $478,010 for the same period in 2023[29] - Revenue for the nine-month period ended September 28, 2024, reached $1,212,418,000, a 6.8% increase from $1,135,365,000[35] - Revenue for the three-month period in the UPS segment was $45,326,000, a 12.6% increase from $40,271,000[34] - Revenue per completed episode in home health increased to $3,104, up from $3,046, marking a 1.9% increase[33] Profitability Metrics - Gross margin increased 8.4% to $159.7 million, representing 31.4% of revenue for Q3 2024[3] - Gross margin for the nine-month period ended September 28, 2024, was $463,820, representing a gross margin percentage of 30.8%[31] - The company reported a gross margin percentage of 31.4% for the three-month period ended September 28, 2024, compared to 30.8% for the same period in 2023[30] - Gross margin for the same period was $109,827,000, with a gross margin percentage of 26.8%, down from 27.2% year-over-year[32] - Gross margin for the nine-month period was $320,830,000, with a gross margin percentage of 26.5%, down from 28.2% year-over-year[35] Net Income and Loss - Net loss for Q3 2024 was $42.8 million, significantly improved from a net loss of $102.4 million in Q3 2023[4] - Net loss for the nine-month period ended September 28, 2024, was $40,109, compared to a net loss of $108,788 for the same period in 2023[29] - Net loss for the three-month period ended September 28, 2024, was $42,843, compared to a loss of $102,389 for the same period in 2023, indicating a significant improvement[39] Adjusted Metrics - Adjusted Net income was $4.6 million, an increase of $9.3 million over the comparable prior year period[1] - Adjusted EBITDA was $47.8 million, a 32.2% increase compared to $36.2 million in Q3 2023[5] - Adjusted EBITDA for the three-month period ended September 28, 2024, was $36,191, compared to $36,191 for the same period in 2023, reflecting stable operational performance[38] Cash Flow and Liquidity - Cash as of September 28, 2024, was $78.5 million with an incremental borrowing capacity of $37.9 million[8] - Free cash flow for 2024 was reported at $16.7 million[8] - Cash and cash equivalents at the end of the period were $78,462, up from $48,294 at the end of the previous year[27] - Net cash provided by operating activities for the nine-month period ended September 28, 2024, was $19,231, compared to $25,677 for the same period in 2023[27] - Free cash flow for the nine-month period ended September 28, 2024, was $16,720, demonstrating positive cash generation capabilities[43] Debt and Financing - Bank debt as of September 28, 2024, was $1,480.2 million, with interest rate exposure hedged through $520.0 million in interest rate swaps and $880.0 million in interest rate caps[8] - Total indebtedness as of September 28, 2024, was $1,480,150, including a 2021 Extended Term Loan of $895,150 and a Second Lien Term Loan of $415,000[28] - Interest expense, net for the nine-month period ended September 28, 2024, was $118,208, compared to $113,304 for the same period in 2023, indicating rising financing costs[38] Operational Efficiency - Field contribution for the three-month period ended September 28, 2024, was $71,515, reflecting a 27.1% increase from $56,260 in the same period in 2023[30] - Operating income for the three-month period ended September 28, 2024, was $34,024, a significant improvement from an operating loss of $76,352 in the same period in 2023[30] - The field contribution margin improved to 14.0% for the three-month period ended September 28, 2024, compared to 11.8% in the prior year[36] Other Financial Metrics - Corporate expenses for the nine-month period ended September 28, 2024, were $91,981, an increase of 8.6% compared to $84,735 for the same period in 2023[31] - Total adjustments for the three-month period ended September 28, 2024, amounted to $48,952, down from $96,069 in the same period last year, indicating reduced operational disruptions[42] - Goodwill impairment for the nine-month period ended September 28, 2024, was $2,904, significantly lower than $107,222 for the same period in 2023, suggesting improved asset valuation[39] - Non-cash share-based compensation for the three-month period ended September 28, 2024, was $4,902, slightly down from $5,116 in the same period last year[39] - Acquisition-related costs for the three-month period ended September 28, 2024, were $150, down from $428 in the same period last year, indicating a decrease in transaction-related expenses[39] Shareholder Metrics - The weighted average shares outstanding, diluted, increased to 193,361 for the three-month period ended September 28, 2024, from 189,139 in the same period last year[39] - Income tax expense for the three-month period ended September 28, 2024, was $15,511, a significant increase from $631 in the same period last year, reflecting changes in tax obligations[39]

Third Quarter Revenue was $509.0 million, a 6.5% increase over the prior year period Gross margin increased 8.4% to $159.7 million, compared to Q3 2023 Third Quarter Net loss was $42.8 million, compared to net loss of $102.4 million in the comparable prior year period Adjusted Net income was $4.6 million, an increase of $9.3 million over the comparable prior year period Adjusted EBITDA was $47.8 million, a 32.2% increase as compared to the prior year periodFull Year 2024 Revenue guidance raised to approxima ...

ATLANTA, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH), a leading, diversified home care platform focused on providing care to medically complex, high-cost patient populations, today announced the appointment of Brent Layton to serve as a Class III director of the Board of Directors of Aveanna Healthcare Holdings Inc., and additionally as a member of the Audit Committee of the Board, effective November 1, 2024. “I am delighted to announce the appointment of Brent Layton t ...

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ATLANTA, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Aveanna Healthcare Holdings Inc. (“Aveanna”) (NASDAQ: AVAH) today announced that its management team will attend the Stephens Annual Investment Conference. Management will host virtual 1x1 investor meetings on Friday, November 22, 2024. About Aveanna Healthcare Aveanna Healthcare is headquartered in Atlanta, Georgia and has locations in 33 states providing a broad range of pediatric and adult healthcare services including nursing, rehabilitation services, occupatio ...

ATLANTA, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Aveanna Healthcare Holdings Inc. (“Aveanna”) (NASDAQ: AVAH) today announced that the company will release its third quarter results before the market open on Thursday, November 7, 2024, to be followed by a conference call at 10:00 a.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing 1-877-407-0789 or for international callers, 1-201-689-8562. A replay will be available three hours after the call and can be accessed ...

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Aveanna Healthcare (AVAH) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.Aveanna Healthcare is one of 1025 individual stocks in the Medical sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 d ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth po ...