Amedisys Inc. (NASDAQ:AMED) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 12%.
Amedisys Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 40.91% to $0.13 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Decreased 8.53% to $339.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Amedisys Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company missed the mean analyst estimate of $0.19. It missed the average revenue estimate of $361.41 million.
Quoting Management: William F. Borne, Chief Executive Officer stated, “Results for the first quarter were impacted by declining volumes and sequestration, but slightly offset by year-over-year increases in admissions and cost control efforts. Clearly, despite encouraging trends, quarterly performance did not meet our expectations. Consequently, we are implementing plans to consolidate or divest non-performing care centers, trim our corporate infrastructure and refine our patient care management strategy focused on delivering the optimal level of care to drive improved clinical outcomes for our patients. We believe these initiatives, along with a strong focus on volume growth and continued cost control efforts, will position Amedisys to capitalize on the changing healthcare landscape and continue to provide the best care for our patients in the lowest cost setting.”
Key Stats (on next page)…