Why AdaptHealth Stock Got Slammed Today
Poorly received quarterly results and a big leadership change were the twin engines driving AdaptHealth's (NASDAQ: AHCO) share price down on Tuesday. On those two developments, the healthcare company's share price eroded by more than 6%. That performance was notably worse than that of the S&P 500 index, which dipped by a comparatively light 0.5%.
AdaptHealth, which focuses on at-home healthcare solutions and services, earned nearly $755 million in revenue in its first quarter. That bettered the first quarter 2022 result by more than 5%. But the company's diluted net income line went very much in the opposite direction, flipping to a loss of $7.5 million ($0.06 per share) from a profit of almost $11.5 million.
Neither headline number reached the average analyst estimate. Collectively, prognosticators were modeling slightly over $758 million on the top line and a per-share profit of $0.11.
Source Fool.com
