Adapthealth Corp (AHCO)

Shares of Adapthealth Corp (AHCO) dropped by 8.99% from $8.45 to $7.69 in the trading on Tuesday, November 7, 2023. The reason why AHCO down is due to company's mixed earnings report:

• AHCO reported a 6.3% increase in net revenue for Q3 2023, reaching $804.0 million, exceeding the consensus estimate of $796.65 million.
• However, the company posted a net loss of $454.1 million, mainly due to a $511.9 million pre-tax goodwill write-down.
• Adjusted EBITDA was $161.2 million, up slightly from the previous year.
• On a positive note, cash flow from operations and free cash flow saw significant year-over-year increases.
• The company provided guidance for FY23 revenue of $3.160 billion to $3.185 billion, slightly lower than previous guidance, and adjusted EBITDA of $630 million to $650 million, down from previous guidance.

Shares of AdaptHealth (AHCO) were down 13.8% on Thursday, after the home-healthcare solutions company announced its incoming CEO is being sued by his former employer.

https://www.fool.com/investing/2023/08/17/why-adapthealth-stock-dropped-today/