AdaptHealth Turns To Q3 Loss, But Revenue Increases

(RTTNews) - Home medical equipment provider AdaptHealth Corp. (AHCO) Tuesday reported loss of $454.08 million or $3.43 per share for the third quarter compared with profit of $16.12 million or $0.11 per share, mainly due to $511.9 million pre-tax write down of goodwill.

Revenue for the quarter was $804.03 million compared with $756.5 million last year, an increase of 6.3%.

On average, analysts polled by Thomson-Reuters expected the company to report profit of $0.20 per share on revenue of $796.6 million for the quarter. Analysts' estimates usually exclude one-time items.

For the full year, the company has revised its revenue outlook to $3.160 billion - $3.185 billion, from $3.16 billion - $3.20 billion. The consensus estimate stands at $3.17 billion.