CANO HEALTH Reports 18.5% Increase in Revenue for FY2023 Q3 with USD 788.1 Million Earnings

☀️Earnings Overview

For the third quarter of FY2023, CANO HEALTH ($NYSE:CANO) reported total revenue of USD 788.1 million, a year-over-year increase of 18.5%. However, net income was (- USD 260.5 million), a decrease from the (- USD 54.2 million) recorded in the same quarter of FY2022.

Analysis

GoodWhale has conducted an analysis of CANO HEALTH‘s financials, and the results have been presented in the Star Chart. According to the chart, CANO HEALTH has a low health score of 2/10, indicating it is less likely to pay off debt and fund future operations. It is also shown that CANO HEALTH is strong in terms of growth, but weak in asset, dividend, and profitability. Therefore, CANO HEALTH is classified as a ‘cheetah’ – a type of company that achieves high revenue or earnings growth but is considered less stable due to lower profitability. Considering this information, investors who are interested in taking on a higher risk in return for potential higher returns may be interested in this type of company. These investors should be aware of the associated risks involved and do their due diligence before investing. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Cano Health. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Cano Health. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Cano Health. More…

Key Ratios Snapshot

Some of the financial key ratios for Cano Health are shown below. More…

Peers

Attendo AB is a provider of healthcare services, while Universal Health Services Inc is a provider of both healthcare services and products.

– EMC Instytut Medyczny SA ($LTS:0LTC)

EMC Instytut Medyczny SA is a Polish company that provides medical diagnostic services. The company has a market capitalization of 472.49 million as of 2022 and a return on equity of 2.52%. EMC Instytut Medyczny SA provides medical diagnostic services including blood tests, X-rays, and ultrasounds. The company also offers laboratory services such as genetic testing and IVF.

– Attendo AB ($LTS:0RCY)

Attendo AB is a Swedish company that provides healthcare and social services. The company has a market cap of 4.03B as of 2022 and a Return on Equity of 8.28%. Attendo AB provides services to municipalities, county councils, and the private sector in Sweden, Finland, Norway, Denmark, Poland, and Austria. The company offers a range of services, including primary healthcare, specialist healthcare, social services, and elderly care.

– Universal Health Services Inc ($NYSE:UHS)

Universal Health Services, Inc. is one of the largest healthcare management companies in the United States. It owns and operates hospitals, outpatient facilities, and behavioral health and addiction treatment centers. As of 2022, the company’s market capitalization was 7.97 billion and its return on equity was 11.27%. Universal Health Services, Inc. is headquartered in King of Prussia, Pennsylvania.

Summary

Cano Health reported strong growth in revenue for the third quarter of FY2023, with a year-over-year increase of 18.5%. Unfortunately, the reported net income for the quarter was a decrease from the same quarter in the previous year, coming in at a net loss of USD 260.5 million. This resulted in a stock price drop on the same day.

Investors looking to invest in Cano Health must take into account the company’s long-term outlook and current financial performance when making their decisions. Cano Health remains a risky venture and one that should be weighed carefully before investing.