The following is a summary of the Aveanna Healthcare Holdings Inc. (AVAH) Q4 2023 Earnings Call Transcript:
Financial Performance:
Aveanna reported Q4 2023 revenue of $479 million, a 6.1% increase from the previous year.
Q4 Adjusted EBITDA increased by 30.4% year-over-year to $38.7 million, reflecting improved payor rates and cost reduction efforts.
Full-year revenue for 2023 was approximately $1.895 billion, up 6% while adjusted EBITDA rose 7.6% to $139.2 million.
Gross margin was $148.4 million or 31%, which was a 15.3% increase from the previous period.
Aveanna finished the period with strong liquidity, at $232 million.
Business Progress:
In 2023, Aveanna saw double-digit Private Duty Services rate increases in eight key states and achieved additional rate wins in 11 states.
The number of preferred payors for its Private Duty Services doubled from 7 to 14 which they hope to further increase in 2024.
Eight episodic agreements were signed in Home Health, improving the episodic mix to 74% in the last quarter of 2023.
Aveanna projects 2024 full-year revenue to be between $1.96 billion to $1.98 billion and adjusted EBITDA falling within the range of $146 million to $150 million.
The 2024 strategic plan involves extending existing partnerships, prioritizing cost efficiencies, and fostering employee engagement.
More details: Aveanna Healthcare IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.