Aveanna Healthcare Reports Strong Financial Results for Second Quarter of FY2023
August 18, 2023
☀️Earnings Overview
On August 10th, 2023, AVEANNA HEALTHCARE ($NASDAQ:AVAH) reported their financial results for the second quarter of FY2023, ending June 30th 2023. The company had a total revenue of USD 471.9 million, a 6.5% year-on-year growth, and net income of USD 25.6 million, a 105.4% year-on-year increase.
Stock Price
The company’s stock opened at $1.7 and closed at $1.8, up by 3.4% from its prior closing price of 1.8. This rise in stock value reflects the company’s strong financial performance in the second quarter of FY2023. This quarter’s revenue was an increase of 6% from the same period last year and was driven by strong demand for the company’s services.
The company’s CEO, Dennis R. May, stated that the strong results were a testament to the hard work of the AVEANNA HEALTHCARE team and their commitment to providing quality care to their patients. The company is confident that their strong performance in the second quarter and their financial outlook for the future will remain strong going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Aveanna Healthcare. More…
| Total Revenues | Net Income | Net Margin |
| 1.83k | -219.88 | -4.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Aveanna Healthcare. More…
| Operations | Investing | Financing |
| -22.07 | -12.93 | 45.55 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Aveanna Healthcare. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.74k | 1.75k | -0.02 |
Key Ratios Snapshot
Some of the financial key ratios for Aveanna Healthcare are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.9% | -18.7% | -5.1% |
| FCF Margin | ROE | ROA |
| -1.7% | 305.7% | -3.4% |
Analysis
As analysts at GoodWhale, we took a deep dive into AVEANNA HEALTHCARE‘s financials. According to our Star Chart, AVEANNA HEALTHCARE is strong in asset, medium in growth, profitability and weak in dividend. With an intermediate health score of 4/10 with regard to its cashflows and debt, AVEANNA HEALTHCARE might be able to pay off debt and fund future operations. After our analysis, we classified AVEANNA HEALTHCARE as ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. Given AVEANNA HEALTHCARE’s financial status, we believe that investors who are interested in medium-term returns and dividends may be interested in such a company. Additionally, those looking for a stable investment may be interested in AVEANNA HEALTHCARE’s relatively consistent net income growth. Finally, investors with a higher risk appetite may be attracted to the potential upside of investing in a company that is still growing and could potentially yield greater returns in the future. More…
Peers
The competitive landscape in the home healthcare services industry is heating up, with Aveanna Healthcare Holdings Inc taking on Amedisys Inc, InnovAge Holding Corp, and National Healthcare Corp. All four companies are vying for a piece of the pie in an industry that is expected to grow significantly in the coming years. While each company has its own strengths and weaknesses, it is clear that Aveanna is in a strong position to compete against its rivals.
– Amedisys Inc ($NASDAQ:AMED)
Amedisys Inc is a home health care company with a market cap of 3.17B as of 2022. The company has a Return on Equity of 11.56%. Amedisys Inc provides home health and hospice services to patients in the United States. The company offers a variety of services, including skilled nursing, physical therapy, occupational therapy, speech therapy, and home health aides. Amedisys Inc also provides palliative care and hospice services.
– InnovAge Holding Corp ($NASDAQ:INNV)
InnovAge Holding Corp is a provider of senior services in the United States. The company has a market cap of 829.66M as of 2022 and a return on equity of -0.87%. The company offers a variety of services to seniors, including home health care, transportation, and meals. The company also has a number of programs designed to help seniors stay healthy and independent, such as exercise and wellness programs.
– National Healthcare Corp ($NYSEAM:NHC)
National Healthcare Corporation is a real estate investment trust that invests in senior housing and healthcare properties. As of December 31, 2020, the company owned and operated 245 senior housing and healthcare properties in 29 states and Puerto Rico.
Summary
AVEANNA HEALTHCARE reported strong earnings results for the second quarter of FY2023, with total revenue up 6.5% year-on-year and net income up 105.4%. In response to the news, the company’s stock price moved up the same day. Investors should take this as a positive sign and may want to consider investing in AVEANNA HEALTHCARE.
This impressive performance reflects the company’s strong fundamentals and its ability to capitalize on opportunities in the market. As such, it could be a good long-term investment option.
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