AdaptHealth falls on surprise Q1 loss

AdaptHealth

07/05/2024 14:40

** Shares of medical equipment provider AdaptHealth  AHCO.O 
fall ~8% to $9.75
    ** Company posts Q1 loss of 2 cents/shr vs analysts'
estimate of a profit of 5 cents/shr - LSEG data
    ** Cash flow from operations at $49.0 mln, down from $140.2
mln, primarily driven by delayed payments resulting from the
Change Healthcare data breach, company says
    ** On Feb. 21, UnitedHealth's  UNH.N  technology unit Change
was hacked, impacting insurers, pharmacies and healthcare
providers across the country
    ** AHCO's quarterly revenue of $792.5 mln beats analysts'
average expectation of $769.9 mln
    ** Up to last close, stock up 45.4% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))