Aveanna Healthcare raises 2025 guidance and issues initial 2026 outlook

Yahoo
Yahoo
20h ago
Aveanna Healthcare raised its 2025 revenue and adjusted EBITDA guidance and issued initial 2026 guidance while outlining preferred-payer expansion, Medicaid rate wins, and a focus on liquidity, deleveraging, and free cash flow.
Aveanna Healthcare raises 2025 guidance and issues initial 2026 outlook
A What happened
Aveanna Healthcare raised 2025 guidance to revenue of $2.425–$2.445 billion and adjusted EBITDA of $318–$322 million, and issued initial 2026 guidance of $2.54–$2.56 billion revenue with adjusted EBITDA of $318–$322 million. CEO Jeff Shaner and CFO Matthew Buckhalter presented the update at a J.P. Morgan healthcare event and referenced a Form 8-K and press release filed earlier that morning. The company reported 366 locations across 38 states, nearly 30,000 caregivers, and said Private Duty Services represents about 82% of revenue. Management reported more than $478 million of liquidity, leverage of about 4.6x, $86.2 million of free cash flow through Q3, and a term-loan refinance expected to save about $14 million in annual interest.
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Key insights

  • 1

    Management separated “normalized” EBITDA from timing-related items: Management anchored “normalized” 2025 adjusted EBITDA at $300 million and said about $20 million of the updated 2025 adjusted EBITDA guidance reflects timing-related items not expected to recur in 2026.

  • 2

    2026 guidance excluded future M&A impacts: Management said initial 2026 guidance does not include any impact from future mergers or acquisitions.

  • 3

    Growth expectations emphasized volume over rate: Executives indicated they expect growth to be driven more by volume than rate across most of the business.

Takeaways

Aveanna projected higher 2025 results and steady adjusted EBITDA into 2026 while emphasizing preferred-payer expansion, Medicaid rate efforts, liquidity, deleveraging, and free-cash-flow generation.

Topics

Business & Markets Management Health & Medicine Healthcare Systems

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