Amedisys(AMED)2025-02-26 21:32Financial Performance - Net service revenue increased by 598.1 million in Q4 2024 compared to 111.9 million to 2,236.4 million in 2023[4] - Full year net income attributable to Amedisys, Inc. was 66.6 million and a non-cash impairment charge of 9.7 million in 2023[4] - Adjusted net income attributable to Amedisys, Inc. for the full year was 140.6 million in 2023[4] - The diluted earnings per share for Q4 2024 was a loss of 0.59 per share in Q4 2023[4] - The diluted EPS for the year ended December 31, 2024 was 4.60 for the year ended December 31, 2023[35] Operational Metrics - The company has approximately 19,000 employees and serves over 499,000 patients annually across 519 care centers[6] - Total assets increased to 2,060.2 million in 2023, representing a growth of 3.8%[15] - Total current assets rose to 496.9 million in 2023[15] - Total liabilities increased slightly to 940.4 million in 2023, a growth of 1.5%[15] - Cash, cash equivalents, and restricted cash at the end of the period reached 138.9 million in 2023[16] - Days revenue outstanding improved to 43.0 days in 2024 from 47.7 days in 2023, reflecting better collection efficiency[17] Revenue Breakdown - Medicare revenue for the Home Health segment decreased by 4% to 164.6 million[20] - Medicare net service revenue for the year ended December 31, 2024, was 874.2 million in 2023[21] - Non-Medicare net service revenue increased by 19.7% to 529.4 million in 2023[21] - Hospice Medicare revenue for the year increased by 3.9% to 754.0 million in 2023[24] - Average Medicare revenue per completed episode increased to 2,997 in Q4 2023[20] - Total admissions rose by 11% to 441,945 in 2024, up from 399,752 in 2023[21] Expenses and Losses - Net loss attributable to Amedisys, Inc. was 17.4 million and a non-cash goodwill impairment charge of 19.3 million in Q4 2023[4] - General and administrative expenses for the year increased to 237.5 million in 2023[29] - High acuity care segment reported a total operating loss of 25.6 million in 2023[27] - Adjusted EBITDA for Q4 2024 was 56.7 million in Q4 2023[4] - Adjusted EBITDA for the year ended December 31, 2024, was 247.0 million in 2023[31] - Merger-related expenses for the year ended December 31, 2024 totaled 36,672,000 in the previous year[35] Mergers and Acquisitions - Amedisys will not conduct a quarterly earnings call due to the pending merger with UnitedHealth Group Incorporated[4] - The merger with UnitedHealth Group is expected to impact various operational aspects, including patient and provider relationships[9] - The company completed the sale of its personal care business on March 31, 2023, impacting revenue streams[28] Impairments and Adjustments - The company recorded an impairment expense of 57,802,000, with a net of tax impact of 154,344,000, with a net of tax impact of $150,384,000[35] - The adjusted net income attributable to Amedisys, Inc. is calculated excluding certain items as defined in the financial notes[36] - Adjusted EBITDA is defined as net (loss) income before net interest expense, provision for income taxes, and depreciation and amortization, excluding certain items[36]